All Forum Posts by: Wyatt Franta

The before & afters on this home look so different, I think you're going to nail this flip. When I first took tours through properties that homeowners were looking to sell, some looked just like what's shown in your before photos. It took about a handful of properties before I was able to see beneath the junk and see the potential!

I have a quick question about the 4th bedroom addition. Did you add sqft to the home to accommodate it, or did you transform an existing room? Where I live on the coastal side of SoCal, I typically see homeowners transform old office space into a bedroom, so I'm curious if it's the same way in Texas. 

Best of luck to you on this, I'll be following along to see how to turns out!

Hi all,

I've been using Biggerpockets and several other platforms to build relationships with fellow Realtors and investors from all investment backgrounds, and I've been dealing with a strange phenomenon lately where we exchange greetings, discuss their unique investment criteria (desired ROI, rehab cost budget, type of property, etc.), and then I set out to match them with potential investment opportunities. I usually will have something that fits their mold within 24 hours and is even off-market 95% of the time. However, when I reach back out to them with the property, they go MIA and vanish off the face of the Earth never to be heard from again.

 So I'm curious...Is that common for any of you as well? Have you investors met other investors who've agreed to pool resources to either secure a larger investment with you or minimize potential risk, only to go MIA when an opportunity was presented? And have my fellow Realtors on here had the same issue of building a search profile around a brand new client, only to never hear from them ever again?

@Taylor King @Taylor King I'm a Realtor out in Orange County, CA and let me tell you that the 20 - 80 rule is real out here. Even some of our area's top salesmen are absolute boneheads who have deep ties exclusively through family and wealthy friends that supply their annual incomes. I know this industry can be frustrating to work with at times, but there genuinely is a lot of work that goes into being a good agent. The best agents that I work with put in about 50 hours a week on average in the office alone. And although Winter season gets a little hectic for me, if you ever need help or a 'gut-check' on a property, send me a PM and I'll do my best to help you out. Also. Have your next agent check for expired listings. Not on the MLS = no competition = not being outbid. :) Best of luck on your future investments!

Hi Ryan, here's what I've found in my experience with new constructions where I'm from in the Orange County...

- New constructions don't always guarantee the best value for your buck. Some contractors may cut corners in order to maximize profits while meeting the guidelines of the developer. It's really easy to hide things with a good paint job and flooring.

- Home inspection, home inspection, home inspection. It doesn't matter if it's brand new, get a good home inspector you trust to walk through it. They've saved my clients an average of a couple thousand dollars each time. No home, in my opinion, is ever perfect and if you can negotiate the price, after the inspection is the best time to do it when everything has been brought to light. Seller credit is most won at that stage.

- No clue on this one, but I do know it will depend based upon location. An experienced California developer will probably make more than a Chicago developer on a regular basis given home values. If you want to negotiate the sale based upon their assumed margins...Good luck.

- Your best bet will be pulling comps in the area and trying to put together an offer that reflects the average value of the comps and the price of the brand new condo. You may not be able to slash much off the top, but that's okay. When the home inspector walks through, and if he can find ANYTHING of substance that causes alarm, you can then further negotiate for seller credits.  I'm not familiar with Chicago so I don't know the market either. If it's a seller's market, they still may not budge, but if it's a buyer's market they may be willing to work with you further to get the sale.

- Question everything you aren't sure about. 

I'm off to get some lunch, if you have any more questions, just send them my way.

Good luck!