All Forum Posts by: Caroline Widjaja

@Melonie Dickson, sorry, it's N-A-Y. As other ppl mentioned, the seller would normally like the cleaner offer in multiple bidding wars. If I were you, I will NOT waive the inspection contingency, unless you're planning to tear it down and rebuild the house from the ground up. I even suggest all my cash buyers to have an inspection contingency. My suggestion to you is: Don't fall in love too much with ONE house only and find as many as you can.

@Colette Chase, the numbers are looking great! Just make sure to get good estimates for Repair Costs & ARV. Good Luck! :)

@Glenn English, For another $500+, it isn't worth the trouble. Have the contractor to pull the permit, then you can sleep peacefully ;)

@William Huston, most people use QuickBooks, Appfolio, & Buildium. Don't use Yardi & Great Plains. You may also take a QuickBooks class from an adult school. QB should be user friendly. I have an experience with QB, Yardi, & Great Plains in the past. 

@Jay Hinrichs Yeah, I got a little brochure of Tarek & Christina seminar mailed to my house! Definitely will pass on this LOL

@Darren Lenick is totally correct!! Especially ARV part, you should be able to analyze your own. Honestly, I just watch it to have a general idea of what's the latest trend of bathroom & kitchen.

In addition, to be a successful flipper, you need to build a FANTASTIC team to work with you. A very good RE agent, contractor/handyman, and Lender. That's all I can say.

If I were you, I will use the money to buy multiple properties with high ROI, and make sure the property is in an up and coming neighborhood so you will have nice appreciation as well, but why you will take the money from IRA? Talk to the Tax Accountant first before taking money from IRA to buy multiple properties.

What do you all think of this article? It looks like US will become a Renter Nation. More and more private equity firms are buying thousands of SFHs...American Homes 4 Rent, Blackstone Group, Colony NorthStar, and now Cerberus. What's the driven factor for them to buy a lot of SFH? I don't think all properties that they bought are all fully rented.

https://www.bloomberg.com/news/articles/2018-08-20...

I'm like you too, I'm dying to buy another... When you sell a property in California for let's say $1Mil and buy some properties in Mid-West, you have a temptation to buy more and more and more...it becomes an addiction LOL