All Forum Posts by: Andy Cross

@Dev Horn too funny door hangers... My dad starting in RE in 1965ish.. did not like the 3 leads a week the managers gave him... ( think Glen Gary glen ross) so he went out bought a printing press and taught me how to run it... then on sat me a a bunch of my buddies would walk the neighborhoods and put 2 to 3,000 door hangers out... we got paid a penny a piece... so it cost my dad maybe 5 cents. this generated about 20 or so leads for him every week.. and he closed 1 to 3 a week and soon was number one.. and soon after started his own company and had 100 agents working for him LOL.. that was my up bringing talk about starting at the bottom..

NOw a days parents are not going to drop 8 years off in a neighborhood at 7 in the mornig and let them walk for 3 to 4 hours LOL.. but that was another time....

Jay I did put on my roller blades in 2005. I could zip through Neighborhoods. Putting flyers in every door and or mail box. Before I found out it was illegal or frowned upon. Man I could fly through those neighborhoods though. Now keep in mind with skates on I was close to 6 ft 3 ish..Working in lower end areas zipping in and out of driveways.

In 2006 I wholesaled 46 houses in the same area all to just two buyers.So I guess my roller blades and 5000 plus flyers worked out pretty good. I hit all three low income areas in Rock Hill at the time.

Those same areas I would probably get shot today if I tried that but hey things change.

I was trying to think out side the box back then...

Alex...this is so much better than walking. i need to get a new pair of roller blades. I nLA, need to zip in and out a little faster than the leisurely skate. Thanks for the tip! I like it!

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Originally posted by @J Scott:

Originally posted by @Andy Cross:

Originally posted by @David Tipton:

I'm reading J's book on flipping houses now and will get to estimating rehab costs next, really helpful so far. I'd recommend checking it out:

http://get.biggerpockets.com/flippingbook/

Hi David, I'm considering purchasing that book. However, as a newbie, I've a little leary about guidance from seasoned investors that aren't particularly rehabbing/flipping in the market I'm in. Are you finding the information in the book is useful for you, since you are in the LA area (like me)? Thanks!

I'll let others provide the reviews, but just to clarify the purpose/focus of the book...

There is NO book (or system or guru) that will be able to tell you what it will cost to rehab your houses. That's because the cost will depend on:

- Location

- Type of house

- Type of contractors

- Type of management (GC vs. subs)

- Level of finish

- Time of year

- Your negotiating skills

- Your scale (how much business you give the contractors)

- And about 25 other things...

So, anyone who tells you that they can provide you a list of costs without knowing your specific project is lying to you.

My Estimating book will NOT tell you how much it will cost to rehab your houses. What it will do is TEACH YOU how to figure that out yourself in an optimal way. It will teach you how to look at a property and determine:

- What needs to be done (Scope of Work)

- Who should do it (which contractors)

- How to ask for and get pricing

In addition to the above, the book also provides ranges of pricing for every major rehab area and task, but again, that's to be used as a guideline and will NOT be able to tell you what you should/will pay.

Estimating costs is hard. My book will teach you how to make it much, much easier...but it certainly won't/can't do the work for you. If it could, I'd be charging a lot more for it... :-)

Thanks J. I figured that's what I'd find in the book on estimating. :-)

1 Vote

Originally posted by @J Scott:

Originally posted by @James Hill:

Check out this resource from a book called FLIP by Rick Villani. It is a $/sf rehab cost estimating guide.

www.estimatingrepairs.com/matrix

Given that these numbers don't take into account location (let alone any of the other dozen important factors), I wouldn't rely on them for anything. Given the OP is in southern CA and doesn't have rehab experience, the real numbers for the OP are likely much, much higher than this...

Hey J...sorry, newbie here. What does OP stand for?

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Originally posted by @David Tipton:

In Los Angeles, probably somewhere between $25-100/sf, depending on the scope of the rehab, the contractors you use, your negotiating skill and how you choose to manage the project.

Unlikely you'll be getting much done in that area for less than $25/sf, and unless it's purely basic cosmetics, it's probably going to be much higher than that. And, if it's a larger rehab (including mechanicals, exterior work, etc) and you're not skilled at hiring contractors and managing them, you're probably closer to the $100/sf range.

Of course, if you don't know that already, you really, really, really shouldn't be trying to estimate costs sight-unseen. I've done hundreds of rehabs (and have written a book on estimating costs) and I will very rarely try to estimate sight-unseen.

I'm reading J's book on flipping houses now and will get to estimating rehab costs next, really helpful so far. I'd recommend checking it out:

http://get.biggerpockets.com/flippingbook/

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Originally posted by @Robert Burns:

I've bought many wholesaling programs and recently Sean Terry's Flip2Freedom Academy was recommended. I would appreciate any feedback from BP members who have experience with this. Thanks in advance!

Hey Robert... I may have missed the answer to this question in the previous responses) But if you've already purhcased many wholesaling programs, why was Sean Terry's academy recommended? I'd imagine he would be saying much of the same things the other programs have said. I only ask that because my mentor has told me the same things that Cody Sperber, Josh/Brandon, all the BP podcast guests have said.

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Originally posted by @Antonio Coleman:

@Andy Cross Lol, your website should be the voice that speak when you can't. It's all about having content that educate them on what you're looking for. There is no right or wrong way of doing it bro.

Ah yea, I get it. I just wanted to make sure I understood what you meant by that. I was thinking, you are "pre-qualifying" sellers' motivations somehow. If that makes any sense.

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Antonio Coleman ...you mention sending people to your website to be "pre-qualified." Pre-qual for what? (Sorry just trying to understand...newbie here)

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Logan Hicks ...newbie here and trying to clearly understand your point...would it have been a better sell if she said she would serve as project manager on the flip?

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Michael Batts the guest on the most recent BP podcast (#155) said he learned real estate investing in BP...no mentor. That equates to FREE, unless you get pro membership. That tells me that you don't necessarily need a mentor, if you simply need someone to guide you through things. People are pretty open here to answer any questions you may have on the forums. I paid for a mentor, and in my opinion it was a complete waste of money and time. She gave me some information, contracts, and some silly form, and wanted me to bring her leads; and not bother her with questions unless I have that form filled out. At the end of the one-on-one, she told me to knock on 50 pre-foreclosure doors a day. No discussion of I'm a people person or not; or what the best method for someone with my personality should do to start out. That's not mentor ship to me. Now I just come here with my questions.

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Hi Jamie! If anything, you can be a mentor to others. Flipped 3 properties, and a FT job?? Awesome!!! Many want to be like you....I'm one of them!!

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All Forum Posts by: Andy Cross

Andy Cross has started 21 posts and replied 174 times.

Post: wholesaling

Post: Estimating rehab in Los Angeles sight unseen.

Post: Estimating rehab in Los Angeles sight unseen.

Post: Estimating rehab in Los Angeles sight unseen.

Post: Sean Terry Flip2Freedom

Post: Marketing when you don't have cash?

Post: Marketing when you don't have cash?

Post: Opportunity to flip a home

Post: Reasonable Mentor!

Post: Mentor/Coach---Please chime in and tell me your thoughts!