First post intro and Oakland investment help

[Rabeeya Khan]

Hi all,

New to BP and wanted to thank all of you for adding to this invaluable resource.  I and my husband are part time residential RE flippers & investors. Have done 4 low end flips in the Bay area ranging from 600/900K. Recently bought a property in Oakland (Crocker Highlands) from a wholesaler for 1,070000. This one is our major investment and need minimum of 300K of work done. Any leads regarding economical structural engineer, soil testing  and foundation work would be much appreciated. Second guessing ourselves that may be we bit off more than what we can chew.  It  would be very helpful to hear opinions regarding a flip with foundation/soil issues from local area experts.  Comps around the area are all over but 1.7M resale is conservative number. Worth it or not??

[Arlen Chou]

@Rabeeya Khan Croker Highlands is a nice area. Just be careful about your ARV. It is hard to say without knowing more about the property, but there are some nice homes in the area for less then that. I believe that the flips in the lower price ranges go fast, but now you are getting into a higher grade of property which might see some softening moving forward. This also depends on the amount of work you are planning to do and when you plan to get the property back on the market. I am curious to know why you are looking for a structural engineer and getting soil testing and bids on foundation work. If there are red flags pointing to the potential need for all of this, I think you might zoom past $300k pretty fast and have a pretty long hold period...