All Forum Posts by: Sebastian Marroquin

@Maria D'Aura Hello. I would say or suggest to: 

NEVER BUY SOMETHING WITH AN UKNOWN THIS BIG: easy fix: ask someone: or go on yelp and find a structural/ foundation company (they specialize in foundations, retaining walls etc. ) : i've used them before and they are about $200 to $300 (for the assessment). The crack looks big... but sometimes like in my buyer's situation: it didn't matter: as it was just visual and it did not affect the structural integrity of the property. 

$300 could save you a lot of time, and thousands of dollars down the line. 

Once you get the assessment : they can maybe wave the initial cost and deducted from their bid to fix or you can have your contractor fix it for a fraction of the cost. 

Where are you buying? 

At the end of the day: do your numbers: if the cost to fix plus the purchase price plus renovations are below ARV : and you can make a profit then perfect move forward.

IF not don't.... (be objective) and remove emotion from it. 

@Kevin Kelliher spend $1 million for a ARV of 1.15 million.... not the best....

I'm sure you can get something for about 500k to 600k in the same area: put in about 200k to 300k where ARV is about $1.2 to 1.3 million

or find a tear down in the area: or a small home : for under 500k and build an amazing home for all in of: $700k to 800k and sale for that amount. 

Look for off market homes: do your own marketing : knock on some doors: get some expired listings : For sale by owners: put some effort in and you will get paid according to that effort. 

2nd Meeting coming up!! 

(I am going to the FIBI meet up group this week in Pasadena and will bring back some nuggets from it! The meeting is about how to properly write notes on properties (I'm assuming for loans or JV loan partnerships).

Come join us September 2nd: we will be talking about flipping homes: specifically about a couple of mistakes that we have made along the way. 

Come meet like minded people in this area and grow your network. This event is free and we will not be pitching anything (no selling of any kind). 

We will also go through one of our current projects: Where we got it from? How we acquired it? How much we bought it for? Rehab costs and what we are doing to the home? ARV / expected sales price and how we arrived at the price? and some mingling!

You can also join the facebook page : pasadena investors 

or add me on instagram at: @ FitRealtor_ 

Hope to see more people there! 

Post on here if you are coming! Thanks 

based on the questions you are asking: it seems fair to say that you do indeed need a realtor. They will help you see the full scope of options you may have, the scope of work and actual (real) figures you will pay, and will help you realize that the 3% you are trying to save is nothing compare to the investment you are making. 

plus you are not paying for it. 

Save in a smart way where you can. Saving saving $5k can costs you 100s of thousands of dollars. People on here are right. 

If you have that type of money for new construction: maybe you should be looking for opportunities that will give you a much bigger ROI.

Why not buy an existing duplex - that needs renovations? 

or 

a home that you can add value to plus add a guest house. 

or 

land for dirt cheap: and then add the home onto it. 

There are multiple ways you can go about this. Consult, research, and take action 

Home was appraised as is: at $815k (appraisal on hand) 

Home purchase price right now: $680k 

Renovations: 75k 

ARV: 880k to 900k

PM me if you are ready: good for a flipper : or perfect for a hold/ rental property! Or someone to live in it! 

Hello everyone: the event is happening this Saturday at 11am: Don't worry about bringing anything... nothing to be nervous about... 

The point is to get like minded people in one room: 

I have been doing flips with investors and now on my own with a couple of partners: and my goal is to Do flips completely on my own and to own first : single family homes, then duplexes and up to 4 unit homes and then eventually move into apt. buildings with over 50 doors per property. But first, baby steps right! :) 

No matter what your real estate goals are: you will meet people that can help you, motivate you and people you will learn from. 

Please ask any friends and or family to come! 

@Yvonne H.Hi, the event is this saturday: at 11am in pasadena : look at the post: it has the address on there! 

you can also text me: 626-375-6744

still available ? 

what do you have under 1 million right now?

do you still have this deal?