All Forum Posts by: Justin Madison

I'm looking at a flip opportunity with an experienced builder in Palo Alto, CA.  This is a high end flip very close to Stanford University on College Avenue.  It is priced at $2.5 Million with a 7,800 SF Lot.  It would be a tear down of the existing 2,000 square foot house and rebuild a 5,000 square foot house for approximately $1.1 Million, then resell the new house at approximately $5.9 Million.  Carrying costs excluded from example above.  Would borrow most of the money. Turn around time from start to finish is approximately 18 months.  9 months for the permit and around 12 months for the build out.  Is a deal like this worth doing?

Hi @Kyle Murphy, thank you kindly for the welcome!  What local meetups do you attend?  I plan on attending the San Jose Real Estate Meetup at Harry's Hofbrau tonight.

Thanks @Ryan Landis for the welcome!  Do you attend any of the local meetups?  Where do I find what others in our area are writing about?

Thanks @Rosston Smith for the welcome!  All the best to you as well!!

Hi @Robert Musallam,

Thanks a lot for the warm welcome to BP!  I really enjoy this website community, so many are so gracious and sharing, so I praise God for it.  Thanks a lot for the tips.  God bless you!

Hi @Mark Nolan,

Thank you for the warm welcome and the recommendation of the BP Podcasts.  I certainly agree with you!  They're fantastic and packed with excellent information!  I feel I have learned a lot by listening to them.  I've only listened to about 20-25 thus far but definitely want to listen to more.  I've listened to a few of them multiple times.  God bless you!

@Gyanendra Gautam,

Thanks a lot for sharing the link to the local real estate meetups.  I was very blessed to attend the meetup in Milpitas last night.  Were you able to attend?  

Hi @Sanjeev Advani, since I'm pretty new to real estate investment, I don't know what kind of cap rate or ROI I should be looking for in the bay area. Would you mind informing me of some reasonable figures?

Hi @Ishaan Misra, thanks for reaching out and saying hello!  I have not explored my local San Jose market much but would be interested in deals here if the numbers make sense.  Feel free to send some properties and deals over.  God bless you!

Hi @Sanjeev Advani, thanks for reaching out!  I'd be interested to see what kind of properties and numbers you have to offer.  Feel free to send me some properties with analysis.