All Forum Posts by: Will Barnard

Quote from @Korey Rademacher:

Yep, it's certainly allowed here in my market, the Pensacola area. I've done it for several wholesalers. 

How can any licensed real estate agent in any state list a property on the mls without the seller signing a listing agreement in which he or she has ownership of the property and signing authority to sell the property? I find this difficult to believe, although FL has had some very loose rules regarding real estate in the past. 
If the wholesaler is double closing and buying with cash or financing, closing, taking title, then you immediately list for sale, then yes. Without having name on title, you can’t list a property you don’t own.

Quote from @Khari F.:

@Will Barnard Hi Where can I find a sample spreadsheet to use as a template? I’m not good w excel. 

Here is one I uploaded to BP file place (free download) but it is a bit old, fyi.
https://www.biggerpockets.com/...

@Bryce Henson Well, if you like mantras, here is another: “Real Estate Education is not a cost, it is an investment”. - Will Barnard

Paying for education, be it a book, course, live event, college, whatever, that money going out should result in saving you costs from mistakes that otherwise could have been avoided with proper education. An educated investor will make better buying decisions, better operating decisions, and better management decisions allowing for less costly mistakes and better profitable investments.

There really is no such thing as a sweep spot across the board as far as size of homes goes for best flips. It is largely dependent on a number of things like investor experience level, amount of capital the investor has access to, local market conditions, what the competition has for sale, etc.

Back to generally speaking, it is fact that going from a 2 bed to a 3 bed home can dramatically increase value, same goes for going from 1 bath to 2. It is much less of an impact when you go from 3 beds to 4 and even less from 4-5. Same with baths. As the quantity gets higher, the added value goes down. Square footage certainly factors into values of course, especially when one uses an average price per SF comparison of comps.

What is best for you can only be determined by you and your study of your specific market. Don't spend so much time thinking about what other investors do  in other areas, look for what is selling in your market and at what price points along with level of finishes. These have a profound impact on what you should be looking for in a flip opportunity.

As stated above, your acquisition price and knowledge of your local market conditions is imperative to success of flipping, especially in a flat or downward market trend. With rates continuing to climb and recession deepening, values will get pressure as affordability levels are reduced. A lot of buyers are priced out due to the higher rates which will continue to climb until the fed has killed the economy. Run your numbers to see how it pencils out as a buy and hold as a backup to the flip if the flip cant be sold profitably.

I have never had a weep hole in a shower and if I came across one, it would likely be an outdated bathroom that would get gutted and have a full remodel done to it.

That said, the weep hole is there for its purpose and should not be caulked, eye sore or not.

$4500 for labor and materials to install new panel and wire entire house including finish electrical is a steal if that scope is accurate. That would be well over $10k here in southern CA. Of course our gas prices are the highest in the nation (which affects material costs) and our labor as well.

Google docs, excel spreadsheet, or software programs like Basecamp are useful.

Check out on Zillow 13450 Contour Dr Sherman Oaks and 12149 Hillslope st Studio City

Both are my designs and built by me in southern CA.

Softening up the front with grass, trees and flower beds (along with small colorful plants) will also help the front elevation.

Quote from @Chris Blackburn:

Not trying to get anything for free.  Just a lot of talented people.  I think @Jay Hinrichs is part of a worthy group to support if the BiggerPockets family helps me out!  (FYI, I hate the green one) .  (Also- It is hard to find a more supportive and knowledgeable group than what is found at BiggerPockets..  To the BP team- Thank you!

 Of these 4, the top and bottom left would be the 2 choices. For the bottom left, changing the garage door (and perhaps the front door) to black and using black gutters and downspouts will give you the nice black and white modern farmhouse design which is so hot right now (at least in southern CA).