All Forum Posts by: Shawn Ward

Also, be sure to gather good comps from a trusted agent to help determine your ARV in that particular neighborhood.

@Patrick Philip it depends on a lot of factors. 

1. If you have the financial means to hold the house longer and the margins are good, high end flips can be good.

2. If you are just beginning with flipping, stick to the lower priced homes

3. If you want to get in and get out fast, stick w/ lower priced homes

All the best!

sjw

@Ashley Wolfe these nerves are normal and you should embrace it! Its a good thing. Means that you are really getting into something that you are striving for.

Also, the next time you go out, offer an experienced investor who's done this type of deal to go out with you , and their expertise will ease your tensions. Offer to pay their gas and buy lunch, whatever gets them out. 

All the best!

sjw

@Brian Ellis always use Credit Karma. Keeps you up real time and its FREE!

All the best!

sjw

@Jackson Tate from my experience as a flipper, it depends on the neighborhood since that will dictate the buyer. 

If you are in more of a trendy area, you can experiment w/ colors.

If you are in a more conservative neighborhood, then stick w/ white.

But, at the end of the day, the buyer can always paint cabinets, and should not end up being a determining factor on a sale. 

Onward!

sjw

@James Powell no matter where you are, I'd try to make free and clear (after agent fees, taxes, escrow, etc) 10% of ARV.

Onward!

sjw

@VICTORIA LEONE if you have a corporation, then this sort of travel should be deductible. But def check w/ a CPA. 

All the best!

sjw

@Justin Worsham I think it depends on your goals. 

1. If you want to create more income and get more active in REI, then refi and use to flip

2. if you want to be more passive and create residual income, then refi and buy more rentals

Onward!

sjw

Usually once they give you an LOI and their appraisal comes back in , the numbers are set.