All Forum Posts by: Howard Manning

Hey Brandon would love to hear it but have basketball game tonight.  Can you put it in print so all of could get it.  Thanks for your thought on it.

When you are looking at potentially good buys, check out "gsaauctions.com".  I have seen some really interesting bid prices in the Jacksonville, NC area and out to Richlands, NC.  I have wanted to check some out but they are a little far away for me.  You might also check out tax deed sales, as well as Hubzu.com and Auctions.com.

I like that idea.  I have an application in now with a local bank and waiting to see if and how much is approved.  If it works I'll give you a shout back.

Sammy,  I wish  you were here in eastern NC.  I have a property on Hubzu.com that is closing again Monday.  I did not start looking for funding in time to get the prequal letter required to bid.  The property is in Greenville, NC.  Zillow values it at about $110,000.  I the owner foreclosed on it at $92,000.  It has been on sell for $60,000 but now is listed at $28,000.  No bids so far and it closes Monday eve.  I have walked through and inspected it.  If I do the repairs needed I could make repairs for about $12,000.

I am strongly interested in fixing and flipping this property but would need help or prequal. letter to do the deal.  Would love to partner up with you on a 50/50 bases with me doing all the repairs.  I have rennovated about 45 to 50 houses since 1988. 

If interested in checking it out oh Hubzu and Zillow the address is 100 Lancaster Dr. Greenville,NC.  For more info about me or the property contact me.

Howard

252-292-9676

email: [email protected]

Oh, it sounded good to me.  Thanks to both of you.  I probably won't be using it anyway.  Seems like a useless number to me.  but I see where a buy and hold investor would be interested.  

Howard from little Sims, NC

We have a caution light.  Hooooray

Hi, just a question for you guys.  I see Cap Rates used a lot on BP.  What are they and how are they computed.  

Howard

Sims, NC

telephone: 252-292-9676

Hello Mark.  I found your "cost to fix up a house both interesting and useful.  I am doing some of that under contract and it helps to determine if my estimates are in the ball park.  

Howard 

WOW, that consistent.  Thanks for the feed back.  That will save me time and money.

Ok wholesalers and RE agents.  Which sells better for the same Sq. Footage, a house with 3 small bedrooms with small master br. or a house with 2bedrooms with a large master br and walk in closet.  I'm a new member and looking at a 1975 house, 1650sf with 3 small bedrooms.  Considering opening up the hall and wall between 2 brs to make a much larger master bedroom with walk in closet.  Is it worth the cost and work.  Entire house needs upgraded carpet, paint and closing in a screened sun room.  It didn't sell on Hubzu.com at $30,000 that started out at foreclosure sales at $80,000.  Zillow valued it at $110,000 to $120,000 rpv.  It has been relisted by Hubzu  starting at $28,000.  All houses this size on this block are valued about the same.  

I figure it would cost me $15,000 to $18,000 to rehab including new vinyl siding, heat/ac, and creating a sun room from the current large covered and screened deck/patio.  

When are you expanding to NC.  Have fix and flipped several houses and want to do more, perhaps one per quarter next and grow to one a month.

Howard from Wilson, NC near Raleigh, Rocky Mount, Greenville, Goldsboro.

Telephone: 252-292-9676