All Forum Posts by: Viktor R.

@James Propeck , We have to put the deal on hold for now but I still do have it under contract and I'm looking for a buyer. Send me a personal message with our phone number and email and I will let you know when the deal is ready to go. It's currently occupied so please do not contact the tenants. 

Easy flip in Eastside Tacoma....

Assignment of contract for sale. I've included a link that shows all the pictures that you need as well as a property profile and comparable sales. The data provided is for informational purposes only. Buyer to verify all information to their satisfaction.

• Assignment available for $105,000 which includes wholesale fee
• Repair estimate: $15,000- $25,000
• ARV: $175,000
• Pictures, Property Profile, Comps (click on blue lettering)

@Xavier Garcia, it was a pleasure speaking to you over the phone. I'll go ahead and add you to my BP colleagues. I hope my email found you well.

Assignment of contract for sale. This house is situated in a hot market of Portland, OR. A word to the wise, when placing a house under contract, make sure to complete a memorandum of contract. I've had several interested parties try to steal this house right under from me after the seller and I had an agreement. This house needs work and a good clean up job. The house is occupied and only available to be viewed via appointment.

I've included a link that shows all the pictures that you need as well as a property profile and comparable sales. The data provided is for informational purposes only. Buyer to verify all information to their satisfaction. 

• Assignment available for $295,000 which includes wholesale fee
• Repair estimate: $20,000- $25,000
• ARV $380,000-$400,000 (comparables included in link)
• Pictures, Property Profile, & Comps (click on blue lettering) 

I do not wholesale apartment buildings. I am focusing on SFR at this time. However, my business partner and I are looking into commercial at some point. What we would like to focus on is find underperforming apartments as compared to similar commercial properties, structure a deal with multiple investors, and after the purchase bring the property up to par. We aren't there yet because we still need to generate the reserves before we get to that point.

@Sarah Simpson, that is an excellent question. The $650 rent per month is a conservative estimate. In my opinion and the comparables that I've looked at, you can justify a rent of $750 with a really good rehab. 

@Xavier Garcia The ARV is between the comps I provided of $118,000- $136000. The rehab estimate is $20,000. The contract is available for $49,000

The house is under contract and the contract is available that includes the wholesale fee. It's situated between Spokane and Spokane Valley. It's currently vacant and needs a rehab. Buyer to complete their own due diligence to their satisfaction. All data provided is for informational purpose only.

• Rehab estimate $20,000
• Comps between $118,500- $136,743
  • 619 S Greene ST , Spokane, WA 99202 $136,743
  • 3817 E 12Th AVE , Spokane, WA 99202 $118,500
  • 3717 E Pacific AVE , Spokane, WA 99202 $127,900.

Congratulations on getting your first deal. I want to see how big of a deal it is that you started out with roasted investing and have the courage, guts and grit to go be an investor. This is what I would recommend you do as I would do the same in your situation: 1. Ask another real estate agent to provide you comps for the property. One source of data for your information is not enough. You should have at least four data sets to confirm your ARV numbers. Network with your REIA group or go to the person in this post that offer you assistance. That is just awesome! 2. Just because one investor didn't like the deal doesn't mean it doesn't make sense for another investor. Not every investor is the same or has the same goals. One person could be after cash flow which would allow them to buy at a higher price and bring the rehab up to rental ready. Another investor could be a flipper which would require them to buy at a lower discount and complete a more thorough rehab. Yet another investor could even want to do a live in flip. My point is always have multiple sources and not rely on just one data point to make such an important discussion 3. Try to complete the comps your self. It seems like the real estate agent did not use like-type properties. If you don't use like-type property then you must adjust your comps for the differences. 4. Be very transparent with the seller and let them know that the purchase price needs to be renegotiated due to your due diligence. Provide good reasons why you need to lower your offer and if this is a true motivated seller they will understand the lower price point. 5. Best wishes to you!

Sounds like free advertising material for BP