All Forum Posts by: Brad Baker

So I recently moved to Central VA and I'm trying to find some probate leads in order to make offers for residential flipping. I'm finding that all of those records are public however they seem to only be available via computers in the clerk of courts office. I went in yesterday and I don't think I got much done because I was so overwhelmed. I'm trying to find properties that are in probate and named executors but it is pretty dense and I don't really know what I'm looking at. Also once I have that info what do I do with it, put it in White Pages and try to get a phone number for the executor? Any advice is appreciated!

Will it require any upfront fixes? Also what's the value of the property ARV if there are repairs? If it is not selling for what you think the market value is then is there anything particularly undesirable about this property (neighbor has three white vans in the front yard and dogs that bark all day and night)? How much are you putting down/financing- or all cash offer?

if the property has been on the market a while you may get some traction here. Sounds like a decent base hit rental. 

I wish I had played bigger sooner. I really played it small for a long time and didn't really start growing on a bigger scale until last year. On the real estate sales side I went from a solo agent to a team of 16 in about 18 months and in investing went from owning 1 home to 6 units in about the same time, something that I didn't even think was possible.

Also surrounding yourself with talented people instead of trying to do everything yourself. 

Hey guys, I need some guidance here. 

I have a wholesaler who I was able to negotiate what I thought was a pretty decent deal. The ARV is roughly 225k and the rehab is 39,000. I am looking at putting a contract on it for 137,000 which puts me at an all in for purchase and rehab at 176,000. essentially I offered 80% of market value minus repairs.

I have a hard money guy who typically does 80% lTV who is willing to lend me 140,8000 to do the deal. I spoke with someone who does cash out refis for BRRRR type properties and he told me I can only do a 75% LTV cashout unless I have a mortgage on the property at 80% LTV or higher.

With the hard money only only giving me roughly 140,8000 to do the deal (80% of purchase price plus rehab) I would have to do a 75% LTV refi on the back end which would leave me with a considerable amount of money (20,000+) in the deal.

So the deal isn't quite as good as I thought it is. I have the cash to make this deal work. My question is should I just go for it or should I skip out on this one?

How much time passed from the time you decided to purchase your first investment property until you actually went out and did it?

I feel like a lot of folks get analysis paralysis and it prevents them from taking action. And others just jump in feet first and do it in a matter of weeks.

For me I made the decision to get into REI April 2018 and closed on my first property 8 months later December 2018.

@Dan Rivers

Good deal, Way to get the 15k discount during DD!

If you don't mind sharing, what area of N Charleston was this in?

@Jamarr Lee

Anything is possible if you have a good enough relationship.

@Alba Alamillo

Put a contract and do your due diligence and if everything checks out you got a great deal. Also you might find a family with elementary school kids who absolutely love the idea of being able to walk their kids directly across the street to school. I'm not sure that affects price much at all.

Great. Bought a townhome for 123k, put about 20k into it, and sold for 193,000. Cleared almost $32,000 after all fees, commissions, and buyer closing costs. 

Action>knowledge. You can learn all you want but if you're not taking action you're not going to get results.