All Forum Posts by: Brian Beadle

Mike I love your enthusiasm! Im very new as well so I know exaxtly where you are coming from. Don't the sea of doubters pull you down, get the job done and prove them wrong. There is no better education than experience. Get those yellows out there and do some deals! Good luck to you

Apologies for the typo in the title, I'm not quite sure how to edit a title after posting.

Alright guys, I just got my current property under contract today and I starting my first real investment property the end of this month!
I sold my current property for a considerable amount less than projected, due to a harsh learning experience and a vicious lesson of location, location, location. It is located on a major street and even though this was a prime area, it killed the price. We started out at 139k and signed an APA at 123k. Lesson learned.
This next property on the other hand, is going to be home run. We purchased it at auction for a steal of 47k with an ARV of 130-135k with a renovation cost of around 20k.
What advise can you give a newbie to make this debut property a huge success?

Hey ladies and gents, lately I have seen a few different strategies in the fix and flip industry. Ive seen alot more people turning to the 'high end' flip vs the traditional.

So, what's your strategy? And why do you think it trumps other business models

I'm looking at a property right now and the the only downfall of it I can find is that it is radiant heat and lacks the option for central air.

I'm in Michigan and I know from experience that radiant heat is very enjoyable in the winter but it gets very hot here in the summers and and I don't want to fill every window with a window ac unit.

How much value do you think I loose by having radiant heat?

Hey Scott, I'm sure you'll love BP! I'm located in Saginaw and I mainly focus on rehabbing. I'm very new to the game, but I never turn down a chance to network!

I sure hope there is a second one!! I would sell my left arm to be there. Kudos to you Josh, I can't even imagine how much work you've put into this so far. Keep up the phenomenal work!!

So I feel compelled to share this little nugget of entertainment with everyone.

Yesterday I was walking through a small commercial property, which was deshevled to say the least, and I was completely taken aback once the 'broker' opened his mouth...
Let me play Bob Ross for a second, picture.....Danny Divito in but not as good looking.

I'll get to the point....

My first comment when we walked into the basement:
There sure is a lot of mold down here

Danny: Whatever, mold can't hurt you! I've had mold growing out my a$$ crack for thirty years and it hasn't killed me yet! Seriously, word for word! Lol

He then proceeded to ask me if I was 'strapped' and casually flashed the two colt 45s he had on each hip.
Now that we were best friends he felt comfortable enough to tell me he's killed three people with those guns and asked me how many people I've killed....WHAT!? this isn't a girls slumber party! What's your number girlfriend?

I could go on and on but I'll leave you with this last gem of a story he told me.

He walked into an Abc share house to get some new appliances and a salesman approached him and asked if he was thinking about getting some appliances today. He replied, 'F¥€k no! I'm thinkin bout
p#££y! I KNOW I'm getting appliances today!'

Needless to say, I was speechless.....

Let's hear your agent horror stories!

Yup I agree Tom. I was just curious what the general consensus would be. Sounds like a no across the boards. Thanks guys!

Absolutely, I wouldn't expect it to pull a premium against other comparable houses but I would like it to capture more attention and make the buyer "need" my property over the others. Plus coming from an architecture/design background, I love projects like this, almost more than the paycheck. Im not 'spend as little as possible' investor. Completely no offense Rusty, that is a phenomenal time tested business plan and its been proven to work over and over, But I love to have fun doing this.

But.......In the end, Im still an investor. So I guess what im asking is, would it be a BAD investment to undertake such a project?