All Forum Posts by: Jimmy Hong

Hey @Michael S. , from the numbers you posted and decent neighborhood you stated, this property sounds like a good deal. Keep us updated on your progress and maybe we can continue to help. Congrats.

Hi @Chris Delacruz , I don't know the Harrisburg market but from my experience, I found comps from zillow and trulia to be very inaccurate. It would be very risky to gauge your ARVs from those sites. Also, its pretty challenging to fix and flip in your local area but to do that on an out of state property? I know its been done before by but very experienced and seasoned investors. Have you thought about how you were going to rehab a property in Harrisburg? Do you already know a general contractor? Do you know how you were planning on managing that general contractor?

Just some things to think about when flipping out of state.

@Account Closed , great decision to find another Realtor, make sure to meet with several and interview them.

Hey @Max Toler , very fortunate the properties are paid for. Tell your Realtor to keep getting feedback after showings and find a solution to move the property.

Hello all,

I want to transfer out from Wells Fargo to a community bank. The purpose is to establish a relationship with a local or regional lender for future financing purposes. Does anyone in Orange County recommend any local or regional banks? Or credit unions?

Thanks,

Jimmy

I think the rehab looks good, besides the one just listed for $105k, what are the comps in that neighborhood? Sold comps, not listed ones.

Interesting, thanks for sharing that @Mark Ferguson .

I like that 20% quote... haven't heard that before. Thanks @Aaron Montague

Hi Tim G., I just came back from Austin and my Realtor showed several SFHs. Great place, and I've been informed FHA loans are not widely used because home buyers can put 5-10% down for their purchase. 5% down would eliminate the need for FHA loan fees.

Hi Aaron Mazzrillo, don't you get better rates and terms from banks than private lenders?