All Forum Posts by: Daniel D.

I'm finding it hard to find deals through MLS and Zillow these days. I've been looking on sites such as auction.com and I'm thinking about getting into the auction game. I'd like properties that are vacant, just seems like less of a headache. What is the process with these auctions in terms of paperwork etc? Does it get confusing from that perspective or not bad? Do a lot of the properties at auction sell for a lot less than they should retail for? Why do some properties not go to auction, is it because someone scoops them up with a good offer before it gets that far? Is there any issue with selling the house at a later point because it is seen as a foreclosure?

I'm curious to get your thoughts on the size of a home that you prefer to do flips on. I've seen on here that many people like a 3/1 or 3/2 1400-2000 square foot homes. I'm interested to know the reasoning of that. Is it because it's a smaller home, the rehab etc can be done much quicker and the turnaround is fast when selling? As opposed to a 3,000- 4,000 sq ft 5 bedroom/ 4 bath home where the return could be much higher, but risking longer turnaround times.  Is there headaches involved with doing bigger homes? Is it the financing that turns people away from doing them? Curious to hear. Thanks.

For example, this is a property I randomly chose in my area. I’m curious as to how accurate the Zillow information is. The estimated market value on Zillow is close to its maximum range, and the rent zestimate is less than 1% it’s total value. Would you look at this property, and just move on after seeing those numbers, or would you throw a lowball offer within a range that makes sense ? 

https://www.zillow.com/homedet...

 I just worry about working with renters. It seems like there can be a lot of nightmare involved with finding a good tenant, maintaining the property, etc. I've also heard stories on evictions and heard it can be a nightmare if you evict someone and they don't leave. Then I have to work on evicting them and have them not paying rent in the process. Seems like a headache as opposed to have a property for a few weeks or months, selling it, and wiping your hands of it and moving on??

New to the game here, a rookie, 0 purchases or rentals so far. Have done lots of research, lots of reading (books, bigger pockets podcast, "how to invest in real estate") and looking to take the plunge on my first deal. My question is, what are the main things to look at when making a flip? What should I look at before making an offer. What numbers have to line up and make sense? I have a property in mind that looks like I could do a few small things to it (flooring, paint, and maybe some kitchen appliances) and turn around and re-list it (or potentially rent it out). Seems like the 1% rule looks fine. I think I've read enough and done enough research where the next step is actually making a move and getting my hands dirty. Figure out the rest as I go.