All Forum Posts by: Sunil Dudeja

Very valuable information. Many thanks to you.

@David Krulac

Well said and great story you have..

Also Jon what kind of Alarm did you get for your properties. Thanks

Jon Thanks for the advise and suggestion. I did buy a motion sensor alarm but unfortunately the break in happened before we could install it. Any way I am thinking about the alarm and having someone sit at the house through the nights. Its crazy but you are right, other people told me the same thing that break ins happen everywhere.

hello all 

              I started my first flip in Atlanta. The neighborhood is very rough. I wish I had done some more research on the area. Break in is a big problem in the area. First time the burglars cut off the wires and took the wires and I had to get the wiring done again. I got a security system installed and some lights outside. Some time passed and break in happens again even with the alarm system. They took some stuff but did not cut the wires this time. I am really frustrated and thinking about getting out of the rehab and may be sell it as it is. The other extreme idea I have is, I should sleep there at night until the house is done and sold. 

        Please share your thoughts and ideas. Thanks in advance. 

Hello Azeez

                     Can i get the info too. Thanks

Hello All

                 So after searching a lot and studying/trying to study for about 7-8 months I finally got a house that I am closing tomorrow. I am looking for a reliable General Contractor. Please refer your contractor that you used. Any and all suggestions are welcome. I am excited but at the same time I am very cautious to process. The house needs major work. My goal at this point is to get the best possible General Contractor for the job. So please advise and suggest. Any and all thoughts are welcome.

Hello KC

I am looking for houses for flip and I am about to get my first one, but to answer your question or to tell you what I saw, adding a BR or RR is very common in properties. The houses I saw were sold based on new configuration. I saw countless examples like this. Even wholesalers offer the deals based on extending the existing configuration. So as far as value is concerned, you will get the price for additional BR. I haven't experienced this being an issue as far as county records are concerned. 

Hello Lynette 

I agree with what you said except the part where you mentioned that in some areas they pay more to get the newbies out. That is interesting to me. Any experience you had like that. 

Hello Friends

So this is how I feel when I try to get a property and I see someone buying at a price that does not make sense based on numbers. One thing I know is on me which is I am new. But I have been studying and I tried for multiple properties and did not get any. For example one just today, sold for 109K and wholesaler had a bottom price/start price of 89K. Rehab was at least 50K( as per multiple contractors, my contractor even quoted 90K, but other GCs on the spot said 50K) so I offered 92K. ARV is around 180K. There were multiple offers over 105K. So this is my though process is about what happens, and I like any and all opinions and I hope to learn from the experts/more experienced flippers.

1. If someone buys to rent it their expenses go much lower so they can offer a higher price (though this one was bought for flip)

2. Some more experienced rehabbers can get the reno done for less.( Most likely scenario) and some may be able to save on agent's commission.

3. Someone buys without working out exact numbers. (seems unlikely)

besides this home in the past my bid was beat on homes by 10K or even more.

So I just seek opinions and advise if you can spare few minutes from your valuable time.

Thanks in advance.