All Forum Posts by: Chinmay J.

@Steven Mitchell - You almost nailed it.. ALMOST.. They are passing on you not because you are a rookie, but because you called them out on their bullsh1t. There are some good wholesellers out there, but lot of them are notorious for overvaluing the ARV and underestimating the repairs. In last 3-4 months I have analyzed over half a dozen deals from wholesellers, and there was no way I could have made those numbers work. Maybe if i had Trump money, and had no holding costs, I could eek out a modest profit.

They don't realize that we weren't exactly born yesterday, and some of us investors have access to MLS and can pull our own comps. Any decent ones in DMV area, feel free to connect with me.

Don't try to convince him. You were better off finding someone who is not penny wise and pound foolish. If he doesn't understand after this experience, you are just better off flying solo.  Good luck.

@Mike Crossman  - You want to abandon your property because you found some mold in the attic? Huh..

@Aaron Z. - If all you need is another 30K in income to retire, have you considered your hand at flipping? Even if you make modest $15K profit by flipping one property, all you need is to flip two properties and you are good.

@Kyle Handy  - Looks like you have  done a lot of homework. Have you considered calling up the brokers and talking to them?

It Depends....

@Irwin Haddox - Please tell me this is not a serious post. You gotta be either kidding me or must be still stuck in the 1950s. I am renting one of my SFHs for $2400 in Fairfax county, VA. No this is not mid town Manhattan. Lot of people rent for lot of reasons, and not everyone likes to live in a dumpster. And how does one get a VOTE on such a post is what I want to know.

I heard Payton Manning (remember that dude who sits in Diners all day long, and spends rest of the evening talking to strange men in parks.. LMAO) was renting Mike Shanahan's chateau for over 5 figures when he was still playing for Denver.   Now I admit that everyone is not Manning, although a lot of us aspire to be, in character and as a player both, but my point is that a lot of people have very valid reasons for renting - people from all walks of life and people at every income level.

@William Walker - Not one bit. It definitely was her fault to be trusting enough to allow the scam to have happened. Based on her replies, I think she got my point.

@Sylvia Pomazak - Your first property.. and you decided to invest 5 hrs away. I just did Google search from Gilberts, IL to Cincy, OH. I am a big proponent of investing within driving distance at first. Imagine if you were investing in the local area, you would have been able to catch scam right away.

@Chris Mason - That's just plain genius. There is always a way around the red tape.. isn't it...