All Forum Posts by: Gregory Childs

If it's a solid deal (fix/flip) reach out to Richard Halpin at Equity Street he might be interested in JV with you. He lives in Medford, OR so would be able to do a quick review/close. You can go to Equity Street's web page www.equitystreet.com for his contact info. Or you can reach out to me and I can pass on your info.

I agree these agressive templated sqeeze pages are a total turn-off. When I see them I instantly click out. If I am looking for a wholesaler I want someone who I can "build" trust with - not be "instructed" that I must trust them.
However, I have often entered my email address into a squeeze page to get a report/graph/white paper that I wanted access to read. So it's the application and not the process that is in error.
TTFN,
Greg

Rich,
Thanks so much for your response. We are actually buying in GA, even though I do live in FL.
The GA market (Atlanta Metro) is a little more predictable and we have more experience in identifying the right sub-divsions. We are definatley trying to build in that $50/sqft range and are actively soliciting builders.
We're up to 36 lots so far and have many offers sitting on asset managers desks (or should I say rotting on their desks).
We hope to break ground on our first new home this year.
TTFN,
Greg

J Scott has a good rental analysis spreadsheet. If you go to his website 123flip.com and sign up for his newsletter it's part of his freebee package. Or just PM him and I am sure he will send it to you.
Even if you're going to wholesale the property this will give you credibility with the investor you flip it to; that you have done your homework.
TTFN,
Greg

I know the example was a little sketchy, but thanks for the feedback.

In the example, I had the build out at $48/sqft with the builders/GC fee at about $5.50/sqft, then adding std features and site conditioning I am at $57.60/sqft. So, not that far apart from your $60/sqft estimate. At least i'm in the ball park.

I will proobably keep my numbers as-is and see how we perform against them.

Thanks again! TTFN,

Greg

Hey there,
I know their are a lot of variables but, ignoring the cost of the lot itself, do these numbers look reasonable to build a 2,300 sqft home (new construction) in the SE USA market with a target resale list price of $200K.

Direct Cost $112,000
Standard Features $5,000
Site Conditions $3,000
Builder Fee $12,500
Utilities / Maint $1,200
Commission $12,000
Closing Cost $6,000

I am just using this as an example - as I build a pro forma template for new construction.

Thanks - TTFN,

Greg

Be professional - write him a letter, thanking him for his assistance and telling him that you are giving him XYZ days notice (depending on the terms of your agreement) of termination.

However, you can not go back to properties he showed you and negotiate a better deal; based on not being represented. That would be unethical.

TTFN,

Greg

I like the deal - the only thing with anything that has been locked up for a year is mold, termites, etc. Why not make them an offer "you" can not refuse - if you're nervous at $110k, then offer them $78k as that would give you more wiggle room. Give yourself a ten day contingency and get the GC to give you a firm bid; and have an inspection done to assuage your concerns.

TTFN,
Greg

Using any of the above should give you enough info to structure your offer - however, once you have it under contract pay the $85 to get a valid desktop appraisal or BPO.

It has saved us a couple of times during our "inspection period" and we successfully adjusted our offer using the new data.

TTFN,
Greg

1989 Jaguar Vanden Plas (black with magnolia interior)

My first job in London was selling Jag's and I got married in 1989 - so when I saw this advertised I thought it would be fun. Plus it was the last year they were actually made in England. The only downside is that it get's vapor lock (known fault with the model year) when the outside temp goes above 90. So it stalls and I have to wait for the fuel to cool off! That can be frustratiing as I live in FL and it is 90+ for 30% of the year. We call it the Ice Princess - because on a trip to GA last summer it stalled and I stacked some ice against the fuel tank.. not in the driver's manual - but it worked.

I also have a Suburban and a Civic as a back up if it gets too hot outside. They're not as much fun to drive - but they are much more reliable - plus when I lived in Colorado the Suburban goes where no other SUV can go!

TTFN,

Greg