All Forum Posts by: Chris Lidfeldt

Great opportunity for an investor to flip or for a rental property. I am under contract on the property and looking to assign the contract. The property is currently occupied but the contract requires the tenant to move out prior to closing. See below for details.

Address: 4610 Barley St, Orlando, FL 32811
Bed: 2
Bath: 1
Sq. Ft: 805
Price: $50,000
Rehab: ~$8,000-10,000
ARV: $75,000-$80,000
Condition: Good condition. Estimated light rehab costs include paint inside/outside, new floors, new kitchen and new bathroom. The kitchen is pretty small so only requires a couple cabinets.

**The property across the street (76 Judith Ln -- 2 bed, 1 bath, 980 sq ft) is pending and closing soon for $50,000 and was appraised for $65,000. Note 76 Judith Ln DOES NOT include a carport whereas 4610 Barley St DOES include a carport.

Does anyone know of a website that shows homes in a particular area and their associated equity levels?

Looking to get into real estate investing on the side. Wondering what people think, on average, is better to invest in, a house or condo? I've always felt that condo's HOAs eat up cash flow. Thoughts?

Thanks for the quick reply Michael! I'm in a similar position; high tax bracket and would love to save money in taxes while also generating cash flow through renting for a year. I would hesitate to do any rehab (unless absolutely necessary) before renting because you know how renters can treat a property sometimes! With that said, what are the biggest factors you look for when making a purchase? Do you can more about price to rent ratio or ARV for flipping? I would think ARV is more important because the total profit in flipping is going to be more than 1 year of cash flow from renting.

I would like to know people's opinion on an idea I have below. I have some (but not a ton) of experience renting and selling properties and would like to know if something is flawed in my logic. Of course I would do all my due diligence on any decisions made and would like to know if there's anything materially wrong with what I'm suggesting below.

I am interested in buying a property that needs to be fixed up but is in good enough condition to rent. I would buy a house that suggests I will buy at a favorable price to rent ratio AND a favorable resale value if flipped.

My intention is to buy the house all cash and rent the house for one year. During this year of course I would being collecting cash flow. Then after a year I would fix the house up and resell it at a profit. The point of waiting a year is to avoid short term capital gains tax thus paying long term capital gains tax.

Another advantage of selling after a year is to avoid getting "stuck" with a house because housing prices go down. In the course of one year a house typically won't increase or decrease materially.

The plan would be to do this over and over again if successful. This would also be side income for me as this would not be my day job. Besides all the typical rental and flip risks that I'm well aware of are there any major downsides I'm not thinking of?

I would like to know people's opinion on an idea I have below. I have some (but not a ton) of experience renting and selling properties and would like to know if something is flawed in my logic. Of course I would do all my due diligence on any decisions made and would like to know if there's anything materially wrong with what I'm suggesting below.

I am interested in buying a property that needs to be fixed up but is in good enough condition to rent. I would buy a house that suggests I will buy at a favorable price to rent ratio AND a favorable resale value if flipped.

My intention is to buy the house all cash and rent the house for one year. During this year of course I would being collecting cash flow. Then after a year I would fix the house up and resell it at a profit. The point of waiting a year is to avoid short term capital gains tax thus paying long term capital gains tax. 

Another advantage of selling after a year is to avoid getting "stuck" with a house because housing prices go down. In the course of one year a house typically won't increase or decrease materially.

The plan would be to do this over and over again if successful. This would also be side income for me as this would not be my day job. Besides all the typical rental and flip risks that I'm well aware of are there any major downsides I'm not thinking of?