All Forum Posts by: Tom Lane

Thanks!

Its great to be here...

I am thankful for Bigger Pockets because I live 7 1/2 miles from ANY town. Before I found BP, networking consisted of two tin cans and a long string!

With a good cleaning in might bring about 500 a month.

I've always preferred to fix/flip and I do ALL my own repairs/remodeling. I've tried the landlord thing but I didn't care for it.  Of course, considering I've never paid more than 30 thou for a property, they didn't attract Michigan Avenue tenants.

To be not too politically correct - I'd rather sell my 'children' than watch them take a beating...

I would start with the mail carrier and trash collectors. THEY know where they never have to stop...nothing in, nothing out, chances are its vacant.

Hi folks. New to Bigger Pockets but not to the whole real estate game. My question is, "how would YOU deal with a 7k, 2 bdrm home in small town USA"?  The median price of props is currently 125,000. Would you fix/flip, buy and hold or run the other way?

My most recent project is 5 miles away and will close any day. We paid 18, spent 40 more and sold it for 84,900 (roughly 4k profit a month).

What to do, what to do?

I've been doing rehabs/remodeling since the sixties and hands on flips since the eighties...your estimates fall in line with the "parts x 2" concept.