All Forum Posts by: Tiara Murray

I have a question. I live in a neighborhood that has some pretty nice single family homes. Its pretty nice and quiet. However on the other side of the road the neighborhood turns very bad, its like day and night. There are many vacant homes, and the streets are not very safe. Many investors wouldn't touch these few streets with a 10 foot pole but I see opportunity in those vacant homes, there are so many that I think I could get a pretty big profit from them with either buy and holding or flipping them to buy and hold investors. They are priced pretty cheaply, its definitely a steal. Do you think I should take the risk and try to flip rehab them?

Sounds good, thanks

Well the only problem with that Jon is that in the neighborhood due to the high foreclosure rate there are houses selling for $65,000 in one place and $5000 a few houses or blocks over. So I really confused when I try to get an arv via realtors

Wow, great info, thanks guys

So between what steps do I get the appraisal?

So between what steps do I get the appraisal?

Okay so I have the basic wholesaling steps down.

1.Find a Property
2.Put it under contract using a PSA
3.Get it inspected
4.Get rehab estimate
5.Calculate the gross income (rent)
6.Calculate the PITI
7.Get the estimated ARV
8.Advertise to buyers list
9. Assign contract to your end buyer using an assignment contrat
and seperate PSA

But I think I'm having problems with step 7, how do I find out the estimated ARV? Is it throuh an appraisal? And if so, when do I get the appraisal?

Well Im currently trying to build a buyers list. Its pretty tough. I am also trying to decide if I should build my buyers list first or put a few properties under contract and shop them around

Thanks for clearing that up Jon. I guess I didn't take into consideration salaries and management fees. I also didn't realize that you can still make tons of money without retaining much equity.

The banks are getting a little tighter with their money. Forcing people to come up with more creative ways to fund their projects. My question is, why dont everybody consider private equity firms to finance them? Are private equity firms also tight with their money?