All Forum Posts by: Greg Behan

something doesn't add up. Unless you can buy it for an extremely safe price i'd avoid it. These are big numbers with a few red flags and it would be your first deal. Most times houses sit on the MLS due to unmotivated sellers or being over priced. The houses around it might of sold for 800k or more but how do they compare to this house? Also when did they sell? I just looked at a custom built house yesterday from the 70's that seemed like it would be an amazing opportunity to flip but when you walked the house it was functionally obsolete. A lot goes into a house especially at the higher price points those are your pickiest buyers.

@Jay Hinrichs

You are right.  But honestly I don't even look into lower end areas.   It's just a shame that some people have taken a turn for the worse and let it all go even though at one time they were doing well.  Also the drug example was a guy in his 30's or so who inherited his parents house in a nice suburban neighborhood with an elementary school right down the street!  I just feel like it's too unpredictable (at least around my area) to be bringing kids to look at houses

There are two sides to this situation.  Although it may be beneficial for your kids from a learning perspective, I would not want kids in some of the situations I've come across.  Some really messy run down houses could be dangerous just to walk around.  Picture your kid accidentally breaking something while walking through a hoarder house, these people could break down from seeing their "collectable" destroyed.  Also as a real estate investor you don't always know who is answering that door I've been through houses where the owners had no problem leaving all their drugs and paraphernalia out in the open, some people are a bit out there to say the least, I would personally advise against it.   

Networking. I would think people want to meet other people that are working in the same field. Also you never know when you are going to meet a lender or if you're a lender you might meet the right investor. There are a million examples of two people that could cross paths and benefit from it at local REIA meetings.

@Kevin Delaney

I agree. I just was curious if in your experience you have seen many flips come across the MLS. Closest thing I see to "deals" are some REO listings but they're extremely competitive and someone is usually willing to overpay for them.

@Joe Cummings

Which trail are you referencing?  I am in your area and have been on plenty of the trails.  In all honesty most people on the trails stick to the trails and are just interested in getting their exercise.  People that are looking to be thieves or any other kind of trouble don't need a fresh trail to do it.  Although it makes for a clean getaway.  

shutters and some basic landscaping would work wonders.

@Colton S.

That's a great book.  But like any book, take the ideas and apply them to your life as you can.  I wouldn't try to do everything you read in a book word for word.   The book, in my eyes, is about personal finance and financial priorities.  I think it is a great read for investors but that's just my opinion.

@Brittaney Woods

   options are fairly unlimited in the real estate investment world.  you could do multiple down payments or even find a multi family home that might fit your criteria.  Just remember to invest in a property don't just buy one.

The MLS is extremely competitive for flips in our area and whether it's finding a realtor or finding the right deal on the MLS is the issue is debatable. There are a lot of eyes on the MLS and it definitely makes it tough.

@Kevin Delaney

Do you work with many investors? Would you say there are a fair amount of potential flips listed on the MLS? I ask because of all the ways to find a house that would be one that I very rarely check due to the competition and my lack of success with it. Feel free to shoot me a message I'm an active rehabber in Bucks and Montgomery Counties ready to make cash offers.