All Forum Posts by: Alberto Camacho

Great intro and welcome to BP!

Check local laws, both state and city, that will explain what you can and can't do. Some areas are landlord friendly but but ignorance isn't a legal defense. Some cities have specific laws around the handling rental of deposits. The best way I've found is the savings\checking accounts approach. 

Welcome to BP!

 Sometimes it happens that way and there is nothing wrong with that. I don't know what your contract looks like but you might have the option to go back and adjust the deal based on the repairs. 

 The 70% guide is exclusive of repairs. 

The way I've understood it is 70% of ARV minus any repairs minus wholesale fee.

This way you can assign it at 70% of ARV minus repairs. On a home that needs no repairs the 70% would work. Some markets don't allow getting to that number but the closer to that 70% minus repairs the faster that deal will fly out the door.

Get to know your market. That will help you shape your approach more than any guideline.

Anyone else interested in joining the peer group? If you would read my first post to get the skinny on my vision. I'm sure one it gets rolling it will have a life of its own. 

What is the condition of the bathrooms and kitchen? When you looked at comps were the kitchens and baths updated? What about the roof? Even if everything is in great shape for its age, as an investor, I would consider any deferred maintenance in my asking price.

Welcome to BP!

I'm going to ask everyone connect with me. I will share my email and we'll discuss next steps. 

Thanks for the interest. I'm super excited to do something like this.

-80% ARV? what are repair\make ready costs? 80% might make a nice buy and hold if the make ready is low.

If your not finding your own deals your capture is going to be thin. 

-Trusting comps? I would verify the CMA, rehab costs, taxes and anything else that goes into the analysis of the deal. Why would you trust anyone that you have not trained yourself?

- Realistic ARV? again what are the repair costs? Do you buy and hold or flip? In the end does it really matter what the ARV is if the numbers make sense for your investing goals.