All Forum Posts by: Bruce Dalis

@Logan Merrick

Yes make an offer as long as you have the costs to make repairs included in your numbers. This is an opportunity to buy a house with discounts.

You should disclose the foundation issue to the next buyer so addesss the ARV accordingly, as you buyer will try to discount you

Good luck

G

all flips

Diane: There are many investors on the Island. Many of them are part of the LI Real Estate Investing Association. Look into joining. The next meeting is 9/12 in Melville Hilton. Look me up there.

Gianpaolo: There are opportunities in Suffolk and Nassau for everything you would like to do. The search is the hard part and I can help you with that. We have formed a new RE Brokerage specializing in the investor market only. All our agents are investors and will find investment quality properties for you. We can even assist in funding, construction costs, PM and of course selling your flip for top dollar. 

Also, consider joining Long Island Real Estate Investing Association. 

Hey Guys:

Wholsaling is a little difficult but doable here on the Island. The secret sauce is have a list of DEPENDABLE cash buyers. Its up to you find the property , negotiate a discount enough so that your investor can make a good return, and present the deal with all costs, comps and construction costs.

Hi: I've done two deals in Shirley and made excellent money with both. Stay in the Longwood school district. 

Exactly what to do. Invest in your self. You find all the education you need here, from your local REIA and from making mistakes that you learn from.

Matt:

Call Tony Grella. He is my landscaper aside from clearing my very long driveway. He's extremely dependable.

I sent his contact info in a private message as you can't put a phone number in a post.

Tell him Bruce Dalis recommended him.

Hi Roberto:

I have not run across a county site that supplies that data. Needs are public information so you should be able interrogate sites from the Towns. Another option is to ask a friendly broker to look that up on MLS. It won't cover FSBO, but you will get a large population of sold properties.

We Perform Deal Valuations for investors. Our service includes inspecting and measuring the house, ARV comps, and a multipage report that will arise you the highest price you should offer on a target deal. Read on:

or The hardest part of flipping, aside from finding inventory, is valuing the deal. You need to wholesaling is knowing if the numbers will work or not by determining the Maximum Offer (MO) you will make. In order to arrive at that, you have to have a real handle on AVR (the price you will expect when you sell), the rehab construction estimates, knowing your fixed costs and selling costs. Also, in the mix is the profit you are looking to achieve. You will need the assistance of a RE Broker who will do comps on your house post rehab, to determine the ARV. In order to find out the rehab estimate a contractor will need to do a walk thru with you, determine the level of rehab and issue you a construction quote. This works fine for the first deal or two. Without some work going his way, a contractor will not continually do estimates his time is with something. The same can be said of the RE Broker, they will loose interest in you without getting a listing or representing you as a buyers agent. In both cases, neither are looking out for the benefit of the investor.

As Realtors, investors and contractors, we can help you value a deal as your consultant. We are on your side. Our valuation report includes MLS comps, a priced schedule of work for the rehab, and an estimate of what the highest price (MO) you should doffer is based on the ARV, Rehab, Profit, fixed costs etc.

Contact us at [email protected] or 516-521-8168. Available in Nassau County, Suffolk County and Eastern Queens, NY.