All Forum Posts by: David Gillette

Obed 

Thank You for the feedback and questions. I've only seen the property virtually but plan on running over there tomorrow with my GC. With that said, I've been pretty thorough with regard to the Bigger Pockets fix and flip worksheet/calculator and am confident my numbers are in line. I haven't checked for liens and or permit history but thank you for reminding about that ha ha. Comps are strong, inventory is low and I would say there is a decent demand for the area. 

Thanks again! I really appreciate it. I have to right down all of your questions and suggestions in my notebook, that way I can revisit with every deal. 
 

Noah, 

I really appreciate your feedback. You're absolutely correct, I figured it was a bit of a loaded question. I could only imagine how many different things it could be. My wife is also a realtor. I'm going to have her call the agent with a laundry list of questions. Maybe she'll be able to pull out some more useful information. I was thinking of doing a 14 day close and get my GC in their with me tomorrow. I haven't seen the property in person yet. When I asked why they were selling, she just said the investors decided to move on from the project. I should have dug deeper. Great learning experience though. Thanks again man! I'll let you all know if I go under contract. 

Good day everyone. Just starting listening and learning from Bigger Pockets recently. I’m looking to take down my first fix and flip project but have a question before I submit my offer

ARV is $251,000

The home was purchased from some investors earlier this year for $60,000. They’ve accepted my verbal offer of $142k. They purchased it to fix and flip but decided to sell and move on. My question is why would they want to move on? Could they have found a major issue? Are they afraid of the market conditions? Do they just want to cash out? Why wouldn’t they finish the project themselves? It’s become a bit of a red flag issue for me and I’m hesitant to move forward

Thank You for your time