All Forum Posts by: Lombosco Dixon

Should I flip a home in a flood zone 

It's a AE flood zone 

Purchase price is 99,900 

Last price home sold for was 265,000

Comps were 245,000

Damages 40,000

Apparently flood insurance would cost 200 a month 

I'm estimating that this home would cost roughly 1700 monthly ???

Arv 240,000

Last price home sold for 265,000

2 beds 

1 bath 

Repairs 40,000

Blocks from police station & shopping center , across the street from a school 

in a flood zone needs insurance200 a month highest premium need for this home homes

Adverage home on market 90 days 

Asking 156,000 

Estimated profits 84,000

I've actually used freedom soft it works out well for me In your trail period profile delete cc information call bank tell them what happened and contact freedom soft as well

Price 151,750 Arv 240,000 Repairs 40,000 Bed 2 (with extra room can be converted into extra bedroom) Bath 1 Attic Basement Street parking and drive way In flood zone highest premium price 200 monthly

That's why I would prefer assets based just incase something happens you can sale the house to make the profit back , people still give out loans to people with bad credit , my credit is being repaired but I'm just being upfront with people if you're interested or have references I'll give you more details

Looking for a private lender or hard money Need 175,000 Bad credit No money would prefer assess based lender

I'm getting frustrated as a beginner , I'm trying to start wholesaling but every time I get a deal it always gets held.

Ben Rutkevitz hello I don't see any contact info of your I would like to accept a joint venture request that you gave me on my post ... Please send a college request

Rod Yarger I understand your point however, I have been taken advantage of before just I wouldn't have a problem with joint ventures or paying for coaches. If your will to do a joint venture then that's fine with me

I'm wasn't being detailed purposely I just wanted to get a few opinions. 

I put the house under contract because my plan is to start off wholesaling. I need a nest like a few people said 

This house is 3 bed 3 bath 

The comps for a 3 bed 2 bath run from 300,000 thru 350,000 base off of 7 houses with in one mile these homes also sold with in the last 90 days 

The comps for a 4 bed 3 bath run from 348,000-389,000

The Niegborhood has roughly homes vauled in between 270,000 and 325,000 (mixed beds and baths)

The house would have to be sold around 290,000-315,000

Being the location of the house if I fix and flipped the house I wouldn't want to over build so I can fix the house up for 42,000 and if I wanted to add additional features I can ... As in adding an addition, garage etc.

But the purpose was to wholesale put I seen the potential profit after looking at this deal 

Being that I have bad credit I can't get a full 100% loan To fund the deal 

So my question was being that I'm a beginner with bad credit so I fix and flip or should I just lose out and wholesale the deal ...

How ever I'm probably going to follow Ned's advice 

I am afraid of the joint venture quest , I do not want to be taken advantage of. 

@Hattie Dizmond @Account Closed