All Forum Posts by: Ryan Kawash

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $122,000
Cash invested: $80,000
Sale price: $278,500

Large Colonial-style home that needed much work. This was my first fix-and-flip investment.

What made you interested in investing in this type of deal?

The ARV was way bigger then the cash needed

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

A friend sent it to me

How did you finance this deal?

Hard money

How did you add value to the deal?

Complete renovation inside and out, adding a full bathroom, and adding a half bathroom

What was the outcome?

Sold for less for what we were hoping but still was a successful (and fun) fix and flip project

Lessons learned? Challenges?

Do not hire your friends as your general contractor. Also, don't hire a general contractor in general, GC the project yourself!

I meet the requirements to become a super host as a host for Airbnb and was just wondering does it really change a lot as far as revenue?  The only reason I ask this is because I plan on automating my Airbnb business and hiring evolve to manage the listings.  The only problem is that evolve lists my places under their own profiles, which means I would lose my superhost status.  

@James Colgan @James Des @Steve Miklashevskiy

Sorry for the delayed response... 

I did not buy in Vernon I ended up investing elsewhere.  Still is on my mind though!

Hey everyone!  I'm based in the Hudson Valley in NY/North New Jersey.  I'm looking to meet and create mutually beneficial relationships with private money lenders.  If you're interested in funding deals message me!  I'm open to different terms.

Thanks,

Ryan

@Obed Calixte

Well going off of what everyone is saying, flipping remotely is nearly impossible in that you must be at the property everyday to ensure the GC is doing their job and not cutting corners and what not.  I experienced this with my first flip and I gave my GC the project and he took wayyy longer then he said and didn't do a good job.  So now i'm at the point where I need to be living where I am flipping.  

Hey guys so I’m finishing up on my first flip in New Jersey right now.  Didn’t go exactly as planned but that’s another story lol.  Anyway, my partners and I currently live in the Hudson valley in New York and want to get out of here and we’re thinking of moving to either Texas or Florida.  We were super excited, looking at moving outside of Austin, looking a Tampa, Miami etc.. until I had a couple calls with agents in those areas and they basically told me that there’s hardly any inventory to flip and when there is, they have an offer within a day, usually cash.  A bunch of redditors in the real estate investing subreddit all said the same exact thing.  Being a beginner in this, I don’t have cash I can just offer same day, I’d have to go through hard money or find private money somehow.  But still, even that, the inventory seems too low and I find myself discouraged about moving to these states and starting a successful real estate career.  I can stay here and flip in jersey since competition isn’t too crazy, but I refuse to believe that it’s nearly impossible to go to Austin or Tampa or any of these “extreme competition” areas and start flipping.  Can anyone suggest what I should do?  

Hi guys!  So I just finished rehab on my first fix and flip deal in NJ and listed it today.  Went through some crap but all a learning experience.  Anyway.  I want to hop right into it again (and do it the right way this time).  Right now I rely on my 1 real estate agent to send me deals that are worth flipping.  Is there a better way to find deals besides an agent sending me listings?

Hey guys, I have an Airbnb, and come April 1st I will have a 2nd one.  I wanted to see if there is a specific place to buy bedding, towels, things in that nature, or if there are any sites specifically for buying furniture that’s best for Airbnb use.

Thanks for the reply everyone!  I’ve heard that it’s taking extra long for cabinets and appliances to be coming in since covid started, so that’s why I don’t want say anything or blame anyone yet.  The only problem I have is that he told me the whole house will be done the first week of January, which to me means that the kitchen stuff would be in and installed.  If he knows that kitchen supplies are taking sometimes 2 months to come in, wouldn’t he or any other contractor who knows this order all of that stuff first?  And work on the kitchen first?  

Hey guys, I need advice on a slight problem I have.  Right now, I'm in the middle of my first fix and flip deal.  The whole house is basically finished, except for the kitchen,  Walls, electrical, plumbing, tiling, paint, and lighting is all finished.  The only thing that's holding me back from listing this house on the market is the cabinets, countertops, and appliances.  My contractor tells me every week for over a month now "the kitchen will be in Tuesday" but every time I ask him for an update on that, he says oh it wasn't delivered yet, so another few days.  This has been happening since the end of December.  I'm at the point where I may go to home depot, tell them about what I want, give them the layout and order the kitchen stuff through them.  What do you guys suggest?