All Forum Posts by: Jonathan C.

Guys sorry 1 more thing- if you use listsource very much, call their customer support line, ask to talk to manager, and ask to be upgraded to a bulk list buyer (or whatever they call it). They made me one a year or two ago and the cost per record is now like 1/4 of what it was

I would also try out 'find motivated sellers now' list. I've gotten 1 deal from it so far this year and isn't too much money

@Alex Bejenaru yeah I do it from time to time and I'm lists of at least 3-4 other investors who also send out similar emails. I have a few examples I'll email to you.

@John Ma haha glad to hear it. Spend a small fortune on PPC :)

Hey all- sadly, even after 100 flips I'm still not totally clear on the dates on the FHA flip guidelines. I'm certain that the 'start' date for FHA flip is the date the property was purchased (not Deed recording date as some people mistakenly believe), but what is the 'end' date.

Specifically, can I go under contract to sell the property to FHA buyer day 60, and close day 90, or can I not go under contract until day 91?

Most lenders I've dealt with have told me I can't go under contract until day 91, but I want to confirm if this is right. I've searched all over BP and online but don't seem to see a clear answer.

Gracias

@Brendan Majev Welcome to the forums. I live and work in DC. Flip houses, have some single family home and small multi family rentals, and looking at buying a mobile home park.

If you have any interest in the mobile home park space or any knowledge of it, let me know and maybe we can get together and I can share what I've learned.

Jon

Wholesalers in my area (DC) mostly bring bad deals, so I think it'd be hard to do more than a hand full of houses if you were relying only on wholesalers.

Also, since the market is 'hot' right now, a lot of investors will pay more than what an experienced investor would pay, so even harder to buy from wholesalers now than usual.

I think it's important for any rehabber to do their own direct marketing so they're never reliant on someone else to bring them deals.

I'm a Realtor and list my own rehabs. Generally, in my experience most listing agents aren't doing much more than throwing the house on the MLS.

Because of that, before I got licensed in one of my states, I did a limited service arrangement when I paid a brokerage company like $400-500 to list my property, and they directed all activity to me. This worked just about as well as when I list my own properties with normal listing agreement with me as agent, so I'd go this route as opposed to paying a listing agent probably.

That said, I'd only do this is I were experienced and know how to put my disclosures together, negotiate with buyers, and manage what happens after ratification until closing.

Throwing my experience in on average rehab costs- especially in Maryland.

A typical 1950s built 1100 SQFT Rambler with basement was costing me about $60K when first started in 2010, now it's costing me about $75K. $70K contractor actual quote plus $5K in punch list, home inspection list, and other misc rehab related costs.

This is for a house that's been vacant 1-3 years, completely uninhabitable, needs basically everything and medium-high end finishes.

@Michael Lang I'm a rehabber and wholeasler in DC. Welcome