All Forum Posts by: Lori Hayward

Anyone ever sold a flip within the 91-180 days after purchase window to a buyer using an FHA loan? If so, other than a second appraisal, what else did the lender require from you? Also, trying to figure out what's required per HUD versus a lender's own origination preferences.

TIA!

Quote from @Richard Helppie-Schmieder:

Quote from @Marcus Maloney:

Curious to know what everyone is paying per sqft for Reno cost. Light to heavy Reno. Please help me nail down some figures. I have a few bids and just check with those who flip quite often. I stepped away for a few years working in another space in RE but now getting some good deals that I need to take down.

 Let me be the first person in this thread to answer your question. $45/ft in DFW. Averaged across last 25 flips. 

Right on, Richard. I'm in the DFW area as well and my number is around $45-50 p sq ft. based on my numbers this year.

I think most people here know every home is unique, depends on the area, the work being done, etc.  Why can't those who are in his area just say hey "my last deal ran me about X per sq ft and it was mostly cosmetic, a gut, addition, etc."? 

Quote from @Account Closed:

Quote from @Lori Hayward:

Hello! I'm working on my first flip. I bought the home wholesale.  There are two other homes on the same street that are abandoned and I would like to reach out to the owners to ask if they are interested in selling.  I've used the appraisal district and some other public sources to locate the owner of record, but I haven't found phone numbers.  Any suggestions on how best to reach out?  Where can I find an acquisition form letter? TIA

Have you looked to see where the taxes are mailed? It depends on how long the properties have been abandoned as to what you do. Talk to the mailman and see what he knows. As for acquisition form letter. You may mean a purchase & sale agreement? And of course you'll want a title report and to go through escrow. That's outlined at the link below, then the article "BuyaProperty". DM me if you can't find it.

 Thanks for the reply. Yes, I've checked. It's owned by an investment company. The house went through probate that finished late last year.  I'm asking if there is a letter people use to introduce themselves and start a conversation.  I wouldn't need a sales contract until I knew they were interestd in selling. 

Hello! I'm working on my first flip. I bought the home wholesale.  There are two other homes on the same street that are abandoned and I would like to reach out to the owners to ask if they are interested in selling.  I've used the appraisal district and some other public sources to locate the owner of record, but I haven't found phone numbers.  Any suggestions on how best to reach out?  Where can I find an acquisition form letter? TIA

Hi! I'm in the middle of a flip in Oak Cliff.  The house is approx. 1300 sq ft. single story and the roof was $6500. Sometimes I had to get as many as four quotes before settling on a contractor.  Our contractors were referred by a seasoned investor friend and others we found randomly.  This is our first flip and working with contractors is the biggest downside to flipping. Their quotes are apples to oranges and then when you settle on one they are off to hustle the next project and leave you hanging.  I need to find the forum on how to keep your contractors on your project. 

Good luck!