All Forum Posts by: Cesar Garcia

I have a seller that wants to get rid go his house, the house ARV is about 500k

he has been improving his house since he bought it, the house is in great condition and it doesn't need any repairs, maybe just re paint two rooms but that's it, everything else is updated, i would generally use 70-80% - repairs - wholesale fee = offer price. 70 - 80% depending on the area and the market, but this seller doesn't want to go to a realtor and just wants to sell his house by himself, i made him an offer of 350k but he said if I could do better, the thing is im pretty sure if he puts it on the market he could sell for 500k as is,what would you guys offer in this situation? thank you!

I have been in this business almost 3 months now,and I think this is deal I've been working has a lot of potential,

The owner does not need to sell but he decided he wants to partner up to rehab the house, and I was going to wholesale it before but now  a RE investor/broker decided to fund the flip so I would like to know what you all think about this,you can it be legal structured. Thanks in advance. Here are the numbers.

 (Homeowner)-            will donate house to the project

ME-.                             will manage and provide GC, plans, permits,and overlook project.

INVESTOR PARTNER . will provide funding for rehab(repairs), market and sell property

costs of repairs 65k-85k

holding costs.( gas,insurance,taxes,electricity,water/sewer/trash)

                         apr -1,204.00

realtor fees 6%       -19,500.00

title-escrow fees     - 979.00

total Selling costs  - 21,683.00

Projected profit and split

projected sales price                           325,000.00

less costs to repair/hold/sell               21,683.00

total profit -                                         303,347.00

projected profit split

Homeowner                                     - 151,673.50

ME AND MY INVESTOR                . - 151,673.50

Split between MY INVESTOR AND I

INVESTOR - 75% = 113,755.00 + 19,500 (Realtor fee) = 133,255

(after rehab funding) 48,255.00 - 68,255.00 depending on rehab costs

ME - 25% = 37,918.00

can something like this be structured? what other options do I have? I have been  marketing to wholesale, but since the owner does not want or need to sell ( his house has been sitting for the past 5 years) should I go ahead and get this deal done if it can actually be done. thanks. im really new and would like an expert advice =)

Can anyone recommend a good real estate attorney in the bay area(California)

I've been working this lead for a couple months now, seller called and said he would like to partner up to flip his house(house was gutted out due to a fire), he said he was willing to put the house and for me to put repair costs, which a contractor I took to see the house told me it would be around 60-80k and we should split the profit 50/50. ARV is 325-350k,I haven't done any deals or flips yet, and I know this one has potential. How would I structure this deal, also how can I get funding to do this flip or would it be better to partner or refer it to another investor?

Thanks in advance for your responses.

Any advice is appreciated.

I'm trying to figure out if this is a good deal, I ran into a guy that wants to sell 30 acres of land, he had it appraised at 375k, city assessment is $281,431 he wants 150k and is willing to negotiate, this is in a rural area in California (mountains), houses there sell over 1m in smaller lots, I'm really not familiar with land, so any advice would be appreciated. Thanks.

I'm trying to figure out if this is a good deal, I ran into a guy that wants to sell 30 acres of land, he had it appraised at 375k, city assessment is $281,431 he wants 150k and is willing to negotiate, this is in a rural area in California (mountains), houses there sell over 1m in smaller lots, I'm really not familiar with land, so any advice would be appreciated. Thanks.

good luck, It looks GREAT!!

you can see samples for free if you sign up at yellow letter.com

property shark.com

just look it up in crimereports.com im sure you'll find the information you're looking for there!