All Forum Posts by: Bryan Frost

I agree with the HELOC approach. I would check with local banks and credit unions in your area. Some will lend up to 100% LTV. I have one for 90% LTV and the rate is 3.5%.

KC is a great market for flips. I have been flipping houses around KC for about 5 years now. I like the $180k to $250k ARV area's but have gone higher and lower. I would stay away from the urban core. Join the local Facebook investor pages and you will see the deals that wholesalers put out there and you can get on their email lists too.

Originally posted by @Jonathan Greene:

Talking about Opendoor now is like asking if the original Xbox is still good. Time has passed on them and their valuation is ludicrous. I see a huge flop coming on them and all of the other offshoot models.

Totally agree. If Opendoor is worth 13B then I should be able to sell my flipping business for somewhere around $10m-$20m. Lol. 

Now that Opendoor is a public company we are seeing more information about their business strategy and overall financial metrics. The company flipped roughly 18k homes in 2019 and pretty much broke even doing so. The company is currently valued at $13 billion and is expected to take over the real estate industry and be worth hundreds of billions in the future. I'm skeptical of their overall business plan and believe that they are going to have a challenging time improving their margins and becoming profitable. From what I understand they offer slightly below ARV less repairs less a 5% service fee. How can you make a profit with that model? Curious to hear your thoughts?

Buy for appreciation, either thru value add, forced equity or just plain old appreciation. We have moved 4 times in the last ten years and we have been able to make a decent ROI by just trying to buy 10% or more below market value and living there for a couple years.

Don't rely on your Realtor to tell you that something is a good deal or not. You need to know and believe it for yourself. The more houses you look at the better you will get at knowing if something is underpriced. 

It depends on what you are planning on using the website for. If your just looking to have a company website then Wordpress or Wix or Square Space will all work well for you. If your looking to generate off market distressed seller leads, then I would look into Investor Carrot. 

Great story. Keep up the good work. Pictures look awesome, really like the choice of exterior colors.

We just started pulling together a previous client list and will be sending monthly emails to them showing open dates, local events, restaurant reviews, property improvements and such. The goal is to stay fresh in their mind when they book the next vacation. We can also offer a discount or increase profitability if they book directly with us. We might offer last minute heavy discounts to increase our occupancy percentage to our select preferred customers.

Definitely look at other flips in your area and see what they are doing. We usually put in stainless dishwasher and stove/oven. The fridge is usually left out.

$400 is not enough of a investment to expect results. I spent around $4k before I got my first deal. Most successful wholesalers will tell you to set aside $10k in initial marketing and spread it across 3 or 4 months. My average cost per deal is around $2k and I do a lot of my own marketing like you. Stick with it and you will get a deal.