All Forum Posts by: Shawn Ward

@Jared Baker cosmetics TYPICALLY, if priced correctly will have less margin than a full fixer, since it is closer to the fair market value. However, if you get a great deal when you buy it, it could be good, but that will depend on getting a seller who will accept less than what they would usually get.

All the best!

@Rita Solomon-Moore Agree with @Simmy Ahluwalia , you do not want HML on this. Get a conventional rental loan.

Our biggest extra/unexpected expenses have been plumbing issues once opened up and foundation issues that werent found at inspection. 

I agree w/ @Daniel Kong . OfferUp and Craigslist are the best.

@Eric M. we moved fast on lowering and selling fast because of the high amount of the HML loan and the fact that we had the house for 12 months. If we owned full cash, without the loan, we would have waited for sure to get the price we wanted. This was a very expensive home, so time was money every day we held it.

All the best. 

sjw

@Trenton Keys 

1. BP = Bigger Pockets

2. Search on BP and LinkedIn for agents in your area. Also, ask any homeowners if they can recommend an agent

3. You will not have to pay the agent until there is a transaction. Usually, they get paid from the SELLER in a transaction a % of the sale price. No need to pay anything upfront

4. Not sure about Florida, but in Cali, if you do not have access to the MLS, the best way to get comps is on Redfin and with an agent. May be Trulia in FL.

All the best!

sjw

@Victor S. the main issue with our home was that it was on a busy street and there was no street parking. We def underestimated peoples NEED to have street parking. Our home parked 6 cars comfortably in the driveway and back/garage, but the fact there was no street parking and the road was busier, really turned people off. 

Hey guys!

1. @Account Closed true the numbers did not work out on this deal and we lost a few bucks on this deal. We could have waited to get the price we wanted, but with the softening in the market and the high hard money interest payment every month, it was in our best interest to sale it at the price we could and move on to new deals. 

We understand that we'll not hit homeruns on every deal, and this is just a part of the business. 

Def many lessons learned and we are stronger because of it. 

All the best!

sjw

1. For investors, find them on BP and LinkedIn and ask if they will allow you to put them on your email list

2. For ARV, I'd recommend you partner with someone who has access to the MLS, like an agent, and have them pull comps for you and give you and idea on ARV

Onward

@Andrez Brewster 1. go to as many meetups and look to meet as many flippers as possible in your area   2. try to get a mentorship or internship going with one of these flippers to learn the business form the inside and build your confidence  3. Listen to podcasts about flipping on BP   4. start analyZing deals for practice   5. Then GO