All Forum Posts by: Ophelia Nicholson

Congrats the floors are gorgeous in the living room!.  What color is that? Why did you put tile downstairs instead of carpet just curious..

@Cal C. 

 I look forward to kicking your behind-- I mean winning :-) Don't let the 10 days you have ahead of me make you feel too comfortable over there.  ( She said in her nicest voice). I have two properties I bought on Oct 31st and I'm already on bathroom tile and paint so I think I have a shot of beating the 66 days- Assuming a buyer doesn't come along and mess it up.. HAHA..

Congrats- This will be my new record to beat- My best days so far was one that I sold in August that my days from close to close was 76 days to an end buyer who got a 30 day loan and it was a 4 week full rehab.

I came to the US in 1999, I bought my first property in 2001 I was 24 and my first investment property in 2002 at 25, second investment property at 26.. Wish I could go back and buy one every year oh well.

For the end of the year I'm basically getting things together for 2015 as mostly anything I acquire now will probably sell in 2015

1. Complete construction on 2 flips I bought yesterday and have them on market before thanksgiving if not then it gets moved to week after which would be worst case December 2nd.

2. Sell 2 completed rehabs that I have under contract, One buyer was supposed to close on the 30th Oct but asked for 2 week extension so both should be closed by end of November.

3. Buy 4 properties to flip that I have under contract - Various closing dates in November- they should all be purchased by Nov 28th- Title issues keep pushing some closings back.

4. Get 4 properties to flip under contract this month for December closing.

5. Get my new assistant up and running.

I love listening to Jim Rohn on youtube and he has this saying "What if your all negative relatives turned positive?- What would that do for your financial situation or your life" -The answer is NOT MUCH.

So my advice would be to spend less time worrying about things that really will not make much difference in your financial situation and work on the things that will make a difference which is ultimately you and only you.

When I first started years ago I remember being told by relatives that flipping houses would never work. Now these same relatives would love to invest a few thousand with me but I'm not interested because the fact that they now believe means NOT MUCH.

Question- Why would a seller take an extra 5K from you that they would need to repay over the next year or 2? Why would you want a  past seller to be indebted to you?

How long has the property been on the market?

How badly do you want the house- Can the deal still be done at 85k. Maybe the sellers are being totally honest-they may want to get rid of the house without ruining credit and without coming out of pocket.

Unless your deal is the only one for a very long time I don't see them agreeing to go into debt to sell it to you.

95% of my rehabs are completed in 4 weeks or less  so my rehabs are all under 90 days.

I think what will end up happening is investors will refuse to sell to people with FHA loans and it will be just Conventional and VA. This will close the market to the majority of buyers who use and just means your rehabs have to be the best thing on the market to compete for the non FHA buyers.

Okay I don't know the area but I looked up the zip code and subdivision and from the looks of it- Houses stay on the market for a very very long time. Out of 29 listings on the market only 5 are under contract which means not that many buyers or the ones that are there need a reason to get out of bed and come buy your house.

 I suggest that if you need to sell it quickly you do whatever it takes.  That includes staging it, open house and consistently dropping the price until you find a buyer. I think you may end up actually holding this one for a little bit.

1. Do Nothing

2. Look for another house

3. Check my bank account to see if the wire came in already

4. Call the title company about my wire

5. Do nothing.

Sorry I don't celebrate its just another house.. Not a big deal