All Forum Posts by: Aaron Crow

I am in a very hot market, and properties are hard to find and when you do find them there are a lot of other people looking at the same properties.  I found one today on a site and the price went up 25k before I jumped out.  It got passed my numbers, and it doesn't make sense.  Many of the leads that I have gotten from wholesalers don't have enough left to make a profit on.  

In a market that is rising and hot, flipping is difficult.  I know that many are buying and holding for long enough for the property to appreciate then they can sell.  That is just not something that I have really considered before.  If the property appreciates that is a bonus, but I have no control over that so it seems to be very risky.  

Any others using that formula in hot markets?

@Stephen Salerno send me the details on this one as well

I was an REO listing agent for a few years, and sometimes the bank will lower the contract price if new discovery is found, other times they wont. They may just kick out the contract and put it back on the market. It will depend on the bank and asset manager. No way to tell. It is just numbers to them.

Welcome to the group!!

Texas is a really big state, any other details might be beneficial if you would like someone to be able to help you.

im definitely interested in this as well.  Condo vacation rental.  Anyone have local resources agents to work with 

I agree, I believe he is being truthful and up front with you, he told you that isn't his specialty, and told you it would be difficult.  That doesn't mean that you should quit, but rather find an agent who does specialize in what you are wanting to do and/or find alternative ways to invest outside of what you asked him about.  

It comes down to how badly do you want it?  Are you willing to work to get the deals or do you want to sit back and wait till the deal of a lifetime falls in your lap (which may never happen).  If you want something bad enough then you will find a way.

That is a really open ended question, with not much details.  To give a generic answer I would say read through the forums, read the blog posts, listen to the podcasts, ask specific questions and people will be happy to help and answer. Good luck, welcome to the site.

and no matter what there will be a hundred more trips to the store for things we run out of our forgot or I changed plans so new items or we broke something that we weren't planning to replace

I go with my contractor,  we pick out the material I pay for it all and it gets delivered.  It's what he wanted and he didn't have to front the money.