All Forum Posts by: CK Hwang

why not do a quick search of a local crime map? I almost pulled the trigger on a property yesterday, and then did a quick crime map search. When I saw all the crime was concentrated around that area, I decided to pass.

Hi everyone, looking forward to meeting all of you at the meetup. I'll be coming alone.

I've been investing in real estate for the last 5 years, but started full time flipping last year. Been working on properties in Orange County and always looking to buy.

Hi Walt, not sure how it is in Florida, but here in Orange County, in some of the cities a garage conversion to living area is a straight no from the city. Also a lot of the neighborhoods here have HOAs, even for SFRs, and the HOA would not permit a garage conversion either because of the parking issues.

Hi David,

have you figured out what aspect of real estate investing you want to do? for myself as a flipper, my emergency strategy, in case one of my flips doesn't sell, is to line up cash out financing, then rent out the flip I can't sell, use the rental return to finance the interests, and use the cash to continue flipping.

Of course after about 4 houses that don't sell, you run out of funds, but for a flipper having 4 houses that don't sell, there is probably something wrong with the economy or the math or both.

Thanks everyone, I see where all of you are coming from.

Thanks for feedback everyone. @Mike G. , why is option 2 completely out? I find homes that I flip to carry a higher value if all the non permitted construction are permitted, so wondering why you don't do it?

Hey everyone, so I recently came across a property in a ok town (but a nice part of town), which I was thinking of buying to do a fix and flip. I've never flipped anything in this town before. I ran the comps, and got a set of comps from a realtor I work with a lot, and they came out to be similar numbers of around $699K.

I was quite surprised at the ARV of $699K because I didn't really expect people to pay this much for this area but checking and rechecking the comps both by myself and by the realtor several times gave the same number. In my mind, I am going "No way I would ever pay this much for a house here of I was a buyer."

Have you guys ever come across a situation like this? If so, how did you handle it? Did you trust your comps and just went by the numbers, or did you tend to trust you gut instinct and forgo making an offer?

It's a little bit of a dilemma for me because numbers don't lie, coupled with my lack of experience and understanding of this area means I could be under estimating the arv value. But at the same time, it's a little hard to wrap my mind about spending that much on a 1300 sqft house in that particular town even though the comps say otherwise. Any advice on what to do?

Saw the stat too and was wondering if bubble was about to burst etc etc... But looking at the stats, it's based on NEW home sales, so to further dissect the stat, could it have to do with the slowdown in new home constructions 3 years ago? i.e., situation where fewer homes built so fewer NEW homes sold?

Could have to do with a slowdown in construction during this cold winter?

@Dawn Anastasi , hey a hit rate of 1 in 3 offers is pretty good. My hit rate is more like 1 in 25 offers that I get accepted.

But dang, i can only dream of transacting houses at less that $20K. I wish I had housing prices like that, i think my business would move along faster.

Hi Martin, my recommendation would be to check with Llyods. here is their website http://www.lloyds.com/

I find they generally are willing to insure situations that many "consumer" insurance companies tend to avoid.