All Forum Posts by: Blaine Cox

Possibility for moving to the Charleston/Columbia SC area.  Interested to see what some of you in the area think about the market.  Rental/Flipping, etc...

Reading about the 70% rule, but am interested if this really works for some on here.  For an easy example I'm looking at a smaller home for a quick turn around that is asking $74,500.00  The after repair value is going to be around $85,000 so they are already too high with an asking price.  However, with the 70% rule that would put me at a $42,150 which includes the estimated $10,000 fix up cost.  Thats over $30,000 off of the asking price......  Does this approach really work??

So I have flipped a couple properties in the past and ended up just renting them out. My brother and I did most of the work which we know now probably isn't the best option. My question is basically the order of work done. For example: New floors, updated bathroom and kitchen, paint, etc. Should we paint while everything is out then put in the updated items and "touch up" after everything is done? Or should painting be the last thing we do? I guess what's a good order of operation that keeps things moving in a timely manner

Is there a rule of thumb out there on how to walk into a foreclosed home your interested in and budget what the fix up costs will be?  Do you take a contractor with you on the 1st viewing of the home and let them estimate costs?  

Just joined this site yesterday.  I'm 33 years old and excited to be apart of this community!!  My twin brother and I have rental property and have flipped 2 houses (well, fixed up and rented)....  I plan on really diving deep into this community so I apologize in advance if there are a lot of questions from me...Ha!