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All Forum Posts by: Kuba F.

Kuba F. has started 1193 posts and replied 2098 times.

Post: These comps ain't loyal...

Kuba F.
Posted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 2,131
  • Votes 694

@Gregory Ballard Your numbers are a bit confusing, so I wanted to get clarification before offering an answer. 

The After Repair Value is only 305k? This property, when completely rehabbed, would be worth 10k less than the seller's current asking price?

Kuba

Post: What was your worst home renovation fail!?!

Kuba F.
Posted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 2,131
  • Votes 694
Didn’t check if we would have to get new electric service +4000 Didn’t check if we would have to get new water service +5000 Crushed sewer line while working +5000 If those were points I would have been winning. :/

Post: First wholesale property

Kuba F.
Posted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 2,131
  • Votes 694

@Oleg I. Congrats on finding a property! Do you have it under contract?

Where does your 250k ARV come from? Is this based on area comps, or a valuation on a website?

What methods are you using to calculate whether the spread is good for a flipper?

As far as finding buyers, you can use social media groups to ask if there are cash buyers in that area and get some emails, or use marketplaces to spread the word. Whether you blast the property details out on social and on the major advertising channels is up to you, given the daisy chain potential.

Post: New to Atlanta and New to Investing!

Kuba F.
Posted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 2,131
  • Votes 694

Hi @Ashley Gantt and welcome to BP!

Many have already chimed in on the Atlanta market, so sounds like you’re in a great place for wholesaling. 

If you need more ways to find motivated sellers and properties, I wrote a few BiggerPockets blog posts about finding them online, offline, and through relationships, that you might find helpful:

https://www.biggerpockets.com/blogs/8814/72016-55-resources-to-find-real-estate-deals-online

https://www.biggerpockets.com/blogs/8814/71506-27-ways-to-find-off-market-and-wholesale-real-estate-deals-offline

https://www.biggerpockets.com/blogs/8814/72664-35-relationships-to-help-you-find-more-houses-to-flip-or-wholesale

Interested to hear how you’ve been, in terms of the cold calls and D4D since you started. 

Reach out if I can help with anything!

Post: My first BRRRR.... From purchase to refinance

Kuba F.
Posted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 2,131
  • Votes 694

@Jason D. Nice work.  It was great reading your updates over time showing how these deals evolve.  I thought your initial rehab budget was low so I was interested to see where you ended up, and even at 10K over I think you made out pretty well, so great work!

Post: New Flip Blog: We're Adding 1,055 SQFT: LA (Jefferson Park) Home

Kuba F.
Posted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 2,131
  • Votes 694

We're definitely watching how it turns out. Rootin for ya to be able to move on from this project, and I'm sure you guys will turn this lemon into lemonade.

Post: Involving GC on Rehab Estimate

Kuba F.
Posted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 2,131
  • Votes 694

@Claire D. 

I hope the site has been useful to you.

Speaking as a Realtor, I wouldn't worry too much about your reputation with agents, especially if you intend on purchasing something. With the crazy competition right now agents have to work much harder and there's a certain expectation that more offers will fall through anyway. 

Although most agents don't invest, there are some out there like myself  that also flip and should be able to guide you with your estimates.  Find one of those, likely at your local investment meetup.

Post: Construction Estimates in the Baltimore Area

Kuba F.
Posted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 2,131
  • Votes 694

One of the best investments you can make to get your estimating legs is to get the bp book on estimating rehab costs.  It's cheap and easy to digest, and full of practical advice. 

Post: Involving GC on Rehab Estimate

Kuba F.
Posted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 2,131
  • Votes 694

@Claire D. 

Unfortunately you're responsible for the SOW.

To address your problem you should definitely read the companion book on estimating rehab costs.  It's an excellent primer on getting your estimating legs.  Another good resource for you pick up is an inspection book to help you perform the walkthrough through the eyes of an inspector.

You can also use this punchlist during your walkthrough to help you identify some of the major systems that you may or may not need to rehab.

https://www.biggerpockets.com/files/user/kubaf/fil...

Pre-offer, contractors will generally not come out to give you bids, but you can hire them to do so as @Sean Carroll suggested.

That bid will be your starting point to help you understand whether you can make the deal work.  Once you have the property under contract, then you should get several other contractors to come out and bid on the work, to be able to compare bids.

Post: How.do I estimate repairs?

Kuba F.
Posted
  • Real Estate Investor
  • Los Angeles, CA
  • Posts 2,131
  • Votes 694

Getting your estimating legs is pretty crucial if you want to do this more than once.  

Even if you do it only once, a small investment in time educating yourself will pay itself back.  I always recommend JScotts book as a great primer for getting those legs.  

Another thing that really helps is to actually read the cost books.  RSMeans is pretty expensive, Craftsman also has them at about half the price.  They're pretty dry, but reading about every single cost for every imaginable improvement item was very illuminating for me when I first started out.