All Forum Posts by: Wayne Fisher

What would be the best way to find fix and flips? I am just having a really hard time finding deals. 

- Wayne

Hi i am looking for a very active agent. I am looking for mostly fix and flips on the border of PA. Looking for investment properties only. 

-Wayne

So I am new to real estate and have been trying to get my feet wet. In my area their are not to many deals for a fix and flip. But i have stumbled upon a townhouse that is in foreclosure. But i am really not sure how much to offer. What i do know though is the bank is asking to much.  That bank has it listed for 195,000 they were asking 235,000. All fixed up this place will sell for around 235,000. The list of repairs this place needs is pretty huge ill go threw the list. Also i have a ton of pictures of the place that i will link also.

-Roof - roof has a leak -Tons of water damage - mold is horrible in the basement- Walls are all beat up with holes everywhere( looks like their was a royal rumble in the house) - Kitchen ceiling is cut open- bathroom shower wall is ripped open and ceiling of shower is cracking- windows are leaking - kitchen floor is buckled up from water damage- Both upper and lower deck are in horrible condition( i was honestly afraid to walk on it) - Outside molding around windows is cracked and damaged- all outside lights are broken- carpets every single one is ruined- Bathroom sink is shot- Kitchen cabinets all have water damage- And again ill say their is a big mold problem so i have no idea how much that will cost.

The condo has 6 rooms , 2 bed rooms , 2 full baths , 1 half bath 1280 sq ft. Its a end unit with a nice view of a pond and has tennis courts ect. It has a heat pump( that i have no idea if it works or not power is off). At least no septic or well its all sewer and city water. The association fee is 200 a month and the taxes are 5,750 a year. Any help with a offer would be very appreciated.

http://s1374.photobucket.com/user/wrxracer1320/lib...

thats the link for all the photos of the condo. thanks again!

-Wayne

Deneen no i haven't worked with a wholesaler yet. How would i go about working with one?

Shawn M. I have been looking in central New jersey Brigewater, Hillsborough, Somerville areas. Looking for homes ranging 150,000 to 400,000.

Hi everyone I have been searching for some fix and flips for awhile now. I really can't seem to find any good deals. I find a house that needs work but most of the time the seller or bank is just asking way to much. Most of the deals i have found fall through one way or another. I look through zillow and realtor.com but i would just like a better way to find flips. Any advice would be great! I really want to get into real estate and make it a full time job. Just kinda lost right now since i haven't done one deal yet. thanks guys!

-Wayne F

I was wondering if i am buying a foreclosure do i need to do a title search? Or does the bank have to disclose everything? Also if i do need to do one if anyone could recommend a title search company thanks!

-wayne

Thanks for the reply Shawn. I think access to the mls is worth the 2k a year easy. It will help get the numbers right on point. I follow J Scott blog and i notice he get's some commission on his sales. He really recommends getting a realtor licenses. I just don't want to be "forced" to do anything since my time will be occupied.

I am working with a really great realtor at the moment and its working out fine. It's just i want to take the next step forward. And i think getting a realtor license will also give me a edge for sure. I would really like to know if i can sell my own properties on mls? As long as i disclose i am an agent i don't think it would be a problem but what do i know.

Michael do you think if i plan on doing this for a living it would be better to get my license? I'm working with a realtor now its just that i rather do the comp analysis myself. Then i could really put the work in instead of making someone else do the work for me. I plan on doing 3 flips my first year if everything goes well. I just need to find a broker that would be fine with that. I really have no interest doing the whole realtor thing. If i had more time i wouldn't mind doing it though.

Thanks for the quick reply's! I will get my realtor license for sure then. I would then get commission from my own flips. If i can just buy and sell my own stuff that is perfect. If anyone has any recommendations for real estate courses in central new jersey that would be great.

And thanks again Tyrus and Bryan!

Well first I like to say i am very glad i found this site. Sooo much great information to learn. I'm new to real estate investing but, have read many books and try to soak up as much info as i can. I want to take a crack at flipping houses here in new jersey. And from what i gather having access to MLS listing will help alot for comp analysis. Here in New jersey we have to work under a broker for 3 years after getting are realtor license. I really have no interest in becoming a realtor i rather just work for myself.

So i am wondering is there anyway around this at all? Could i get my realtor license and just work for a broker part time buying and selling houses for myself? A friend of mine told me that you can also get access to mls by being a appraiser. I am sure there are people in New jersey that flip without having access to mls just wonder what they use for comps? I just hope i am not going about this all the wrong way. Any feed back on this would be great. Thanks!