All Forum Posts by: Dave Carpenter

@joshua dorkin - what about creating a kickstarters fundraiser specifically to develop an app for this site. You may already have critical mass to get participants to donate (I would certainly kick in)
That might give you the upfront funding you need to do this right.

Thank you all for the warm welcome!

Jon Klaus I will add some more details when I get them. From what I know now by looking up the county records online, the property is assessed at 333k, but going out to look yesterday, I am fairly certain that assessment assumes a livable property. This house would need new kitchen, windows, furnace, flooring, some drywall, roof, landscaping, and a few other things. What has me interested is a general sale price of 150k when chatting briefly with the developer at church yesterday morning. There seems to be a healthy gap to allow for remodeling, and some profit.

Currently my questions for him when i meet with him to get inside the house tomorrow are:
1. what is the actual sale price (i'm not sure if he as just spitballing the 150k or that is really his pricepoint)
2. as a developer and custom home builder, why isn't he interested in flipping the house
3. how quickly is he hoping to sell (i'm wondering if he is hoping the sale of this house and 3 of the 16 acres are going to help fund the development area around it)
4. did he have the hope appraised recently (he said he bought the 16 acre lot, which includes this house earlier this year)

Any other questions you all can think to ask?

Dawn A. - I hav already read your posts about rental properties, and have really enjoyed them. it has given me a few things to consider, though i'm not sure about the discount for on time payments.

Brian Feltz - Thanks for the warm welcome. I have done some preliminary reading for the Milwaukeeans. I did set up a keyword for milwaukee already, but are there other keywords you would suggest? My primary interest is rentals, but I have been learning that a lot of folks on here use flips to fund the rent and holds.

Brandon Turner - I am trying to remember where I heard about your old blog. I know it was on facebook, and I think it was a college friend who lives in Minneapolis. Have you done any investing there? I will take a look at the link as well!

Ben Leybovich - Ben I have read a few things from @J Scott including his podcast (I have been listening to those to and from work, which does not do much for my at-work moral!)

Thanks again all of you!

Dave

Hi all,

I joined this group after reading most of @Brandon Turner old website - realestateinyourtwenties.com. I am 26 years old and bought a duplex as my first property 2 years ago as part of my expected retirement plan. I figured I would slowly buy a few more and start to sell them off when I retire. Though I will admit, over the past few years the idea of REI has continued to poke at me. this site is making that poking much worse!

I currently have 1 duplex in the Washington Heights area and have had a great experience thus far. I am interested in getting deeper into REI, but feel limited by getting financing through typical sources. I also purchased a SFH with my wife last summer.

Yesterday I was talking with a family friend who is a local developer, and is looking to sell a SFH attached to his most recent acquisition. I stopped to take a look at it, and am interested in the idea of flipping it. I will be meeting with him tomorrow to find out more information.

While I don't feel like I have much to contribute I have been reading all kinds of articles, posts, and podcasts in the last week, and really like the culture that has been created!

I am excited to be part of this great community!

Dave