All Forum Posts by: Alycia Ludden

@Tyler Rasmussen

Are there any planned meet ups soon?

@Russ Marlborough

Do you plan to hold or plan to resell soon?

If it cash flows really well and I was buying to keep as a rental, I wouldn’t worry about the appraised value. It doesn’t matter until you go to sell and the seller isn’t willing to budge so 🤷‍♀️

Hi!

I’m just getting started and have made a total of maybe 6 offers now, getting 2 under contract. However, I had one just not get a response, but they had multiple competing offers. However, I made two this weekend that have been on market awhile and didn’t get a response from either? They were low offers admittedly, but is this normal to be completely ignored? Should I submit a higher offer?

 Do you have a website or phone number I can reach out to you at? 

@Lynnette E.

And you are very right, if we could get by with just clean we totally would and are cutting any non-essential projects. It was very tempting to have the possibility of still making a large chunk of money right now.

@Lynnette E.

Thank you, the capital gains was something we have considered and will be doing a 1031 exchange on the advice of our accountant when we sell. Since we didn’t buy until mid October last year, we want to avoid the seasonal market slow down and a possible overall market slow down too by selling before August.

@Kelly DeWinter

Thank you very much for the advice. I’m wanting to trust her market knowledge, since we are new to flipping, but I spent 2 years working with her scouring the area for a place like this and know we couldn’t have come close to what this finished product will be with our 250k budget last year. I don’t feel the market has slowed that much and then the pocket listing idea threw me off. I will definitely do some thinking on it!

Sorry in advance for the novel- 

My husband and I purchased a rehab property last fall. We planned to rent out the current home and eventually build a new home on the back 10 acre parcel.  Long story short, our plans have changed and we decided to do a full rehab on the current home and sell the back 10 acre parcel as well. Our realtor that helped us purchase the property will be who will list with, she does a lot of acreages in our area. However, I feel that she is undervaluing both pieces of property. She keeps mentioning that they will "see how much we paid", which in all fairness, was low due to the condition of the property (think large pole barn, garage, house and pasture full of 20 years of junk plus an abandoned mobile home that may or may not have been used as a grow house). This area is hot for acreages and she has two clients currently looking and has floated the idea of selling "as-is" on contract through a private listing with her office. She also knows of someone else looking for land in our area, so potentially has a buyer for that. I feel the prices she is giving us to definitely be on the low end of the market though after scouring this area to find this deal for 2 years and seeing what properties sold for that will be similar to what our finished product is. She also has similar listings that she has listed at the top of market value for the area. I'm wondering if she's putting too much emphasis on what we purchased it for and if the private listings in the "as-is" state would really be in our best interest. Any thoughts? Would you do a private listing to save some headaches with a rehab? 

It should be mentioned we will still be nearly doubling our investment with the prices she is suggesting, but could potentially be missing out on almost an extra 100k in profit should we finish and list at what I think it feel the market would support.  

Id love to know about the next one

I have an opportunity to purchase a foreclosure that I think will be a home run. My realtor suggests making a cash offer. We purchased our current flip with our heloc and maxed it out, however we are in the last stages in finalizing a refinance mortgage, we are waiting on a lien (that should have been removed at closing, the company hasn’t released it, it’s a total headache) to be removed. So it could be finalized tomorrow, or could be another 6 months, who knows? We could get traditional financing but really want to bring a cash offer to make it more appealing. Would obtaining a short term personal loan (12-24 months) to help bridge the time be my best choice? Any other suggestions? I could pull from my various IRAs but would prefer not to. Family/friends isn’t an option.