All Forum Posts by: Christopher Silich

I’m buying my second house next week in Lithonia. So far I’ve got a basic rental that I didn’t have to do anything to, and now this one which will be a flip. Good neighborhood, 90s house, no major problems, got it for about 70% of its mid-range ARV. The seller is leasing it back for a month, so work starts in early June. I’m going to take my realtor over there soon to get his take on whether to do a quick mid-range cosmetic flip, or a longer high end one. So I need to gather up contractors. I’ll need a painter, plumber, bathroom countertops, and laminate flooring installers. Can anybody share a recommendation for a favorite contractor in any of these categories?

David N Peterson Are you looking for clients? I’m in Lawrenceville, looking for property.

Michael Gansberg Good input. I'm just adding to the top of my "deal funnel" in every way I can. I see this more like those lists that wholesalers buy, based on specific criteria, to find distressed homes. Not a magic bullet like the turnkey companies claim to have. Still hoping to find someone who can say if it's any good on or based on experience.

@Account Closed Both, whichever way the numbers work better.

Has anyone tried out HappyInvestor.com ? They aggregate wholesale deals and private lenders, and use algorithms to find properties that are (supposedly) below market, or have had big price drops. Sounds promising, but they don't let you see much without paying. 

For a new team working together, I think your exit strategies should be ones that allow everyone on the team to exit if they want to: Sell to one team member who can hold it independently, or sell on the market. Even then, the problem with selling to one team member is what will the sale price be? Everyone on the team will be hoping for a high ARV except that person, who wants it low.

@Hiron Fernando That spreadsheet would be great. And any recommendations for wholesalers active in Atlanta and the Northern Suburbs?

EDIT: Nevermind the wholesaler recommendations, you're in Texas. I got you confused with another conversation with someone around here. 

@Hiron Fernando, @JD Martin Thanks for the feedback. Yes, I wasn't happy with this deal. I'm literally just getting started, and I've signed up for a few lists, and this one was the first one sent to me.

Oops. Didn't tag you right Hiron Fernando

Thanks Hiron. I'm still learning. Just so I'm clear, your problem with this example deal is.... the low rent to value ratio?