All Forum Posts by: Brandon Vukelich

Sorry @Darrel Howard, I don't.  I highly recommend that you have a local attorney draft up appropriate docs for the state you plan to operate in. It's an investment you make once and will be able to confidently use them over and over again going forward. 

Ditto to the Schlage Encode.

Assuming you're talking specifically about a residential flip opp because it really depends on the deal. If a flip opp, you need to know what the market can handle. What's the ARV, how much approx rehab, how much a flipper needs to target for profit, etc.? Some deals I turn for a quick $5k because it was a competitive area, others I've been able to add $40k. There is no black & white answer to your question. Know your market, know how to assess rehab and know the target profit expected by your end buyer. Don't be greedy. Make sure the seller gets a fair price and there is enough meat left on the bones for your end buyer. You'll want them coming back for more, and they will, if they make a killing on the deal. Best wishes on your journey!

Probably easiest and best option is to find a solid partner-agent in the area to list it and pay you a "marketing" fee for the lead.  Be sure everyone involved complies with RESPA rules.

@Courtney Ann McShane since you're specifically looking at one in Puyallup, I reviewed the link you attached.  Looks like page 3, para 6 clearly states at least one owner must occupy, one of the units on the property.  When in doubt, I email the appropriate contact at either the city or county related to the property.  Phone calls are good for quick answers (when they call back) but I prefer to refer back to something in writing (via email), if an issue arises.  Best wishes in your search!  Keep us posted.

Just a quick suggestion would be to get a pre-approval letter from a hard money lender.  Conventus Lending is good and I just checked, they lend in AR.  Best wishes on your journey!

Depends on the price and audience you intend to market to for STR. Are you getting it for $500k in a neighborhood with $1mi+ values? If you move forward, be sure to use ALL CAPS in your marketing to disclose the business, obviously. Assuming you are paying market price, I would find a better investment opportunity. Otherwise I would bail or wholesale if you have it under contract for a steal.

Welcome!  Best wishes on your investment journey!

Check Zillow......I'm totally kidding. There has to be comps out there somewhere, even way back or going farther out. An appraiser is going to have to use something to confirm valuation for a potential non-all cash buyer. Beyond asking local agents for a CMA, reach out to a couple appraisers in the area for input. You could consider ordering your own appraisal if it is that hard to confirm. I've done in the past on tough, random/unique properties. Gives you a hard number to work with.

You need to know your market and valuations to determine your wholesale fee, totally depends on the deal and your market. If you have it under contract for $500,000 and market value "as-is" is $600,000, go ahead and try to assign for $50k, give or take.  Buyer would hand over a $5k, $10k or more deposit/earnest money and you would be paid your assignment fee at closing.  Honestly, it sounds like you are not prepared to have a PSA under contract yet.  Do you have any interested buyers lined up yet?  If you have all of those details, please send me a private message with it. I may be interested or have an investor that would take it.  Best wishes in your journey!