All Forum Posts by: Matthew Paul

 What makes you think I left money on the table ?    I got over asking , more than the apraisal , didnt pay a sellers agent , and 1% to the buyers agent . Buyer is happy and so am I . 

If you value your friendship , I would tell you not to do it .   I could list so many examples of why not , but the internet isnt that big . 

When you mix money and friendship , it rarely comes out good .

Try google ........Civil engineers key west florida 

There is one agent that didnt get their 2.5% . I am selling my house FSBO ( just finished last weekend with new carpet) . I had an agent lined up to go live with it for the 4th of July weekend . And last week I had a young couple stop by , looked at the house , fell in love with it . Came back with a buyers agent . Next day I had an offer for less , with a 2.5% commission to the agent . I handed it back and said no thanks . I told her its the asking price and I will give a flat fee of $6000. He told me that he doesnt reduce his commission . I told him thats fine ,have a good day , good bye . Next day he came up to the sale price with the same commission , I said no . ( last 4 houses had biding wars and sold over asking ) . The next morning , he handed me a new offer with 1% and 20K over asking . I told him he will have an answer tomorrow . We are under contract .

There are 2 houses under $700K in my zip code , none in my school district . 

Every area is different . This is just my example . 

I have replaced many septic systems in my younger years . Unless we were asked and were being paid extra , we never replaced the pipe going into the tank from the house . 

Its probably clogged , thats why its not hooked up . Its terra cotta pipe , its old . 

If you are watching any of these home rehab shows , I will tell you straight up , they are BS . I just did a total rehab on a house we were moving to . My wife was "excited" ( she watches those shows ) . After she helped and experienced it she realized how much more goes into it as far as time and especially $$$$$$ .   

I am a contractor , I have trusted subs already , but they just dont show up when you need them , they are on other jobs , there may be a week or so , nothing gets done , and this may happen 4 or 5 times during the project . 

I have found that if its a good enough deal to flip , its a good deal to keep as a rental , sometimes better , as a rental you do a quick repair and cosmetic update and rent it out , and in maybe a couple year it has appreciated , you then do a remodel and sell and you have made much more 

Flipping is also affected by high home prices and higher rates . You have to remember you make your money when you buy the house . You dont buy right you will lose . With out experience , a fix and flip is very risky .  Even with experience its risky .  I have some guys that are sitting on houses because they went over budget , and over improved for the neighborhood .

Have a exit plan .

I am going to throw this out there , investing is always a gamble , you dont always win . I always have a back up plan with real estate . I am not going to get into different loans or rates . Me , I want to preserve my credit rating , ( and money ) if things go south , the best I can . ( Hasnt happened but I do prepare ) 

My suggestion , consider selling your primary where you live and move to Florida . Hopefully you have equity in your primary and it will cover the difference . Dont know your total situation , this idea may suck big time , BUT , if this prevents a major hit on your credit or a bankrupcy , you still have a roof over your head and it gives you time to regroup . 

I will never buy a property I wouldnt live in with my family , condition and location . Why ?  As time changes I may have too . Hopefully it wont , but its possible if things ever crash . 

Sometimes you just have to do what needs to be done 

The GC will provide you with a contract .