All Forum Posts by: Alex S.

Thanks Wayne and Mike, I'm going to follow you guys advice on this one. Will list it a week after closing with no FHA buyer. Thanks

My wife and I put a plan together to start flipping houses last year in January and opened our doors last year in July after getting everything together. Since then we have successfully rehabbed and sold 3 houses, and just put our fourth house under contract yesterday and will close in two weeks. On the previous three we never worried about the flipping rule because most needed major repairs, so we took our time and waited the 90 period. However there is nothing wrong with this house, I will install granite tops, paint, clean, and appliances. It was built in 2008, got it for $100k, comps around about 180K. When we close I want to put it on market the following week for 180K. Will this rule affect us and should we just say no to FHA buyers, but I was thinking that might limit the number of qualified buyers. What would you seasoned investors do? Thanks

Thanks Jim, I am mostly looking in the Clayton and South Fulton area. Now I did see one fire damage in Fayette, I went and took a look at it, the county has it condemned right now. I have been to the REIA meetings in Tucker, haven't made it to I-HOP yet, will try to do that this Thursday. Thanks

Thanks Jered, and I agree it's tough out here, most of the deals we come across don't have much room for profit vs the risk involved. However I realized last night that maybe I am being too impatient, it has been only six weeks and not six months. So we shall stay patient and persistent and usually that produces great results

Thanks Davon, Just sent you an e-mail.

Hello fellow investors, this is only my second post and never actually properly introduced myself. My name is Alex and I am a licensed contractor in Georgia and sort of a new investor.  My wife and I opened our investment doors in June, for purchase and rehab. She is to find them and I am to rehab them no matter the condition. I thought this would be quick and painless, but we have not been able to find any deals. We have a website, we are on Google with Adwords, (spent $700 on that last month) we mailed out over 1,500 postcards to vacant houses and houses that are coming up for tax sale, we have an ad on craigslist, and yet no deals. 

I know a lot of agents, but I have found that it seems to be hard to find an agent who is investor friendly, some tell me I am offering too low and I don't hear back from them, but I offer those prices because that's the price I need it at to make our profit. Plus most of the houses on the MLS seems to be overpriced and on the market for over 90 days, but still overpriced. Now wholesalers have houses listed all over, but when they say $10,000 worth of repairs I go and look at the house and it is more like $25,000. Are we doing something wrong? Or maybe it takes longer than 2 months to find a flip, I don't know.

Now I do get a lot of hits from my ad on google, but none fits us, most are wholesalers just looking for buyers, or people who are upside down or something that fits a buy and hold, but nothing that fits a purchase, rehab and sell. How are most rehabbers finding their deals, with agents, wholesalers or finding them on their own? Any advice would be greatly appreciated.

Responding sort of late, busy week. However wanted to just thank everyone who took the time to share their knowledge and give advice. Also to Holly, we are considered fire chasers, have a program that tells me whenever there is a fire. However have to compete with about 3 other guys whenever I show up.

Thanks Marlon!

Thanks Steven for your advice...however is an investor renovation loan better than going through a hard money lender? I mean does it take long to close with an investor renovation loan?