Great job. That is the kind of ROI all investors should demand! In Denver there would have been 10 others bidding on it until the profit was down to 10-15K, just to keep their crews busy. Ah how supply and demand work in our industry.
Great job. That is the kind of ROI all investors should demand! In Denver there would have been 10 others bidding on it until the profit was down to 10-15K, just to keep their crews busy. Ah how supply and demand work in our industry.
@Tony SanFilippo the key to deals like that in Denver is to not be bidding. Generate your own leads and then you have lots less competition and if you do have competition it's other investors and typically not first timers shopping with their agent.
@Tony SanFilippo the key to deals like that in Denver is to not be bidding. Generate your own leads and then you have lots less competition and if you do have competition it's other investors and typically not first timers shopping with their agent.
@Bill S.
True, I am not saying good deals will NEVER be found, but the competition in Denver is so large, even my generated leads don't have to look too far for another We buy houses add, to get competitive bids. There are many investors (not retail buyers) that will bid up a house just to get the house to keep their crews busy and are ok with a very small profit margin. I have talked to many contractors at REI events that have been able to acquire hard money and will take deals all day just to stay busy.
@Bill S. Thank you! Not sure how competitive it is in Denver but even here the "off book" ways of getting real estate are deeply tapped into. However, here everyone is looking to find the gold mines. Many properties still exist with 30k profit potentials.
Roselle, IL · Member since 2015 · 165 posts · 143 votes
10y
@Jailen Holt Pretty much everything. A lot of new drywall, plumbing, electrical, sub floors were added/replaced to kitchen, new windows, siding/gutters/fascia/soffits, flooring (much of home had original hardwood), plus all the visuals you see on photos (cabinets, granite, trim, etc).