All Forum Posts by: Nick Scapellati

@Julie Hill I think without math REI is impossible. I have read some of the responses and I believe that terminology might be the bigger issue. I teach math. From 6th grade through precalculus.

When I have a student that is struggling usually it is because they don't speak what I call the language of math. Terms in math and in REI are subject specific. You usually don't hear them in other conversations and their meanings are often not understood. Once you understand the term the computation are usually not very difficult. I think you would benefit by learning meaning behind the terms in finance and investment. If you do know what the terms mean the calculations become much easier.

@Brian Greeson just a thought. I agree with what has been stated by others but another possible solution could be that you offer to have pest control treat the problem neighbor’s home. You would be out of pocket a little cash but very little time and the gesture might help with the remedy of this problem also.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $120,000
Cash invested: $54,000
Sale price: $195,000

We purchased this 1949 home and renovated it over the summer. Big project that included rewire, new roof, new hvac, and all cosmetics.

How did you find this deal and how did you negotiate it?

Found it on the MLS. It was just outside a hot neighborhood that homes were being renovated.

How did you finance this deal?

Conventional loan for purchase. Private money for the reno.

How did you add value to the deal?

Improved the property .

Lessons learned? Challenges?

We over improved the property for the area. Could have made more profit with less investment.

@Robert MacNeal I think maximizing your return should be a secondary goal at this point in your real estate career. To minimize risk perhaps you should look into SFH at first to gain experience in managing income properties. It has a lower entry price point and thus a lower risk to loss. Maybe one or two homes to learn the ropes and the scaffold up.

@Yonah Weiss I have a degree in Middle Grade Education and my wife has 3 degrees. One in psychology, one in chemistry and one in health management.

I am not sure my degree yields much to success in investing other than the ability to learn. I have learned most of my knowledge on real estate from books, podcast and others in the field.

@Jalen Williams welcome to REI and Bigger Pockets.

@J Scott I have already contacted two others to get their thoughts. Thank you.

@Lien Vuong thanks for the advice.

Hello BP. My wife and I are finishing a flip and are confused to what sale price we should place on our home.

We had an appraisal done and it came in higher than we expected at 260k. Our listing agent suggests that we start at 220k.

In truth I thought that the appraisal would come in around 225-230 but was pleasantly surprised. We have looked at other comps in the area that have sold for 230s so that is what we expected to list at but with the higher appraisal now we are not as certain.

Looking for any advise on what price to list at.

I have used Heck Electric in the past. They did really nice work for a reasonable price.