All Forum Posts by: Ricky Sabogal

Sorry @Jesse Harris - LOL.  The Hampton Roads area... Chesapeake specifically. 

Hi BP family!!! Does anyone have recommendations on Kitchen cabinet suppliers? I’m starting a project in Southern Virginia and exploring options. Is big box the way to go? I have heard of some people having success with IKEA. What are some affordable recommendations out there? Anything I should be on the lookout to avoid? Thanks for any/all advice!

Thanks Patti, that’s what we were thinking too. 

Hi!  Has anyone done a historic home rehab in Portsmouth?  Or does anyone know of any contractors that specialize in historic district rehabs?  I have heard horror stories about the HRD area's historic commissions for rehabs, lots of red tape and headaches...  Hoping some can share some of their learnings/experiences.  Thanks for your time!

That makes sense @Sam Shueh  The listing states the owner will review all offers after 7 days on the market, so I have a couple of days.

Have any of you ran across an investment property that you thought was priced too low even for a fix and flip?  Is it a thing for listing agents to list low and have investors fight each other out for the property?  How have you handled that in the past?  Do you go in with your highest/best?  Do you put in an escalation clause? 

SFH - offered 75k (listed 70k they already had a full price offer)

Reno budget - 40-50k (thats on the high end)

Comps - 185-210k

HML terms - 25% Down, 4 points, 12% - not too happy with the points, but its my first one, can't be took picky.

Down Payment/closing cost/points, etc - 40k

Potential profit - 55k

Just placed my first offer for a fix and flip!  Excited and scared out of my mind at the same time.... ahhhhh.  Now its a waiting game.  I'm assuming that I should use the time between ratification (fingers crossed) and settlement to line up contractors (have 1 that walked the property with me, but would like to get a couple more).  Any other tips/advice that anyone has that should be done during the time of ratification and closing?

I am analyzing a fix and flip property in the Hampton Roads, Virginia area.  I went to see the property and while I think 80k renovations to turn this property around is reasonable, it needs a new roof.  In looking at the roof (I'm not a roofing expert) I know it will need new shingles, but there is also some wood rotting that I is visible from the outside, so I am hesitant that the frame under the shingles are also compromised.  While I know prices will vary by market, does anyone have any idea of how much extra I should plan for the possibility of a new frame?  Thanks for any and all input! 

BP team, are the Live Streams recorded for playback later like the webinars?  I was notified of a live stream today at 5pm EST (5 Rental Property Investment Red Flags), I couldn't make it, so I was hoping there was a replay.  @Brandon Turner any insight?