All Forum Posts by: Mark Wainscott

I just got an email back and he said he was planning on putting in about 60K or so depending on the upgrades. He said his Realtor said comparable comps once the repairs are complete 225K-240K.  

He said the only major is the roof spot by the skylights, the rest is just cosmetics and a good scrubbing and any upgrades. I will have a contractor take a look as well.   

I appreciate everyone!     If you where to throw an offer out what would it be?  Cash? Hard Money? Owner Finance? and a ball park number to throw at him?

Thanks everyone for the help. I will do some numbers crunching. 

As of renting in the 2k dollar range this area does not have or would support such a high number.  Huge homes in the eligant neighborhoods are only snagging 1500.00-1800.00 a month 4-5bedroom basements and more..

Maybe I will see about my own personal residence and then use mine as a rental.

Experinced flippers what are some rough numbers for a kitchen make over? This has wallpaper also in it...

Home details 3Bdr 3 bath single story ranch with around 3448 sq feet. Has a in ground grunite pool, privacy fence and sits on about an acre of land. 2 1/2 car garage attached.  It was a recent foreclosure.  The guy who bought it now is asking 129,900.00  with out repairs or said he can do the repairs.

It was previously listed on the market about a year ago at 164k.  quick comps from realtor.com puts it at 113k now and zillow with about 170k.

The seller states it needs some updates Kitchen and bath updates, also says it does have a leaky roof on an addition where the skylights where not installed right. Im going to go physically look at it tonight, but wanted some rough ideas how to approach it or even how to put a good offer in.  Any advise or tips is appreciated.   By the sounds of it this guy may be a flip and fix guy.

Will be my first deal, I want to fix and hold for a rental if not occupy it myself for 3-5 years.

Are there any investors who truly are buying or acquiring homes with no money? Or rough credit issues regular bank loans may be out of the question? The gurus make it sound so easy like the old Carlton Sheets stuff. Can you explain your system or how you do it? Thanks

Good questions, I'm a newbie and just learning myself.

Can you share your ad wording?

Can you shed insight on wholesaling or flipping in Indiana. If I buy/contract a home then turn around and sell contract it to another investor? Any good title companies that are investor wholesale friendly?

So you can't even rent out a house you don't own? Or act as a property manager? 

Thanks Tom

I used to hold my Re license but never renewed it after I put it on hold. I noticed a post about wholesaling being illegal in Ohio. What are the laws or how is it looked at here in Indiana. Say if I contract to buy a house then turn around and have another buyer lined up. Like a double close? Any insight will be appreciated.