All Forum Posts by: Stephen Lofthus

@J Scott The estimated ARV is determined by the market correct? Also to be "accurate" does that not come with experience and/or real estate agents, MLS etc?

Fixed Costs can be estimated-

Rahab costs is knowing your contractors and pulling the trigger on good estimates? Or can you determine that prior to contractor estimates?Those profits are very appealing..Thank you for your input..

@Account Closed Yes, I am trying to determine ROI and also trying to cover my ars..also want to be able to analyze multiple properties to determine which ones to go after.

I know that pulling the trigger on a property is the way to jump in but I want to try to make the right move initially..

Thanks,

Stephen

Is there a general system or formula to analyze your flips?

@Rodney Kuhl I was raised in Eden Prairie but went to school in the south. Yes we will have to connect for sure!!

@John Moore Thank you sir!! I will do my due diligence!!

@paul timmons thanks for the advice!!

@mike D I will hopefully see you around!

@Wayne Brooks brooks So MLS is better?

Good Saturday All!! I have been on here for about a month and don't believe I have introduced myself...I am from Minnesota but got transferred to Indianapolis for my corporate position now 3 years ago. My father is a master carpenter and has been for 35 years. A man that can walk into a property and assess everything that needs updating or fixing(building) so I am pretty experienced about the building process. In my past I have been a LO and currently am debating on getting my RE license to help out in costs along the way. Am currently establishing an LLC and have already completed a BP. I do things 200% and am a perfectionist to some point. Have been learning a ton on this site and also educating myself online and through books..mostly on what not to do and how to successfully flip homes. Have already started interviewing and researching good GC's in the area. Found a great plumber, electrician and potentially a tile guy so far. Am also researching solid RE Attorneys and CPA's. Any feedback would help a newbie!!

Thanks,

Stephen

Is this not more accurate than the MLS would be? They provide everything..ownership/transfer/deductions, property assessments, spring/fall tax bill statements, tax payments etc...has anyone used these references? I have been looking at the sheriffs sales in 2014 and cross referencing the assessed values to read if these were good investments to get used to reading these docs in preparation for first flip..any input would help!!

Thanks

Stephen

Thanks Matt!