All Forum Posts by: Dawn Latoyce

@Franklin Romine I would like to use the proceeds to add with the 30K purchase my first rental property.

Thank you Mike Cumbie and Nicole W.!

It really needs to be gutted.  Two pronged outlet's STILL, needs a Breaker Box update, HVAC, mold in one area, that is what they saw on first inspection. Could use exterior update as well.  The roof was redone last year.  

I think the property would appeal to a certain type of renter who wanted to live on a little land.  The thought of keeping the grass cut between renters is a bit over whelming.  

i just recently inherited a 1000 sq. Ft. 3 bedroom 1 bath sitting on 1/2 acre.  I have $30,000 to invest to flip.  I had 2 GC's come out to place bids.  One said $30,000 is not enough and walked out within 10 minutes.  The other agreed and suggested that I at least have the inside sprayed so that it would be appealing to an investor.  The spray paint would cost $3,500.  

The property was built in the 1960's and has had no work done in 40+ years.  It is breath takingly beautiful (to me, lol). The roof was replaced last year.  Needs Gut Rehab.  

A realtor indicated that she could look for an investor to purchase the property for around $35,000. I'm thinking this number may simply be for the land the house is sitting on. She also said that should I decide to flip the property that it would sell for around $100,000.  It sits next to two recently built $300,000+ homes sitting on about 10 acres however the other homes on the street are run down.  

Any suggestions on how to proceed are greatly appreciated. 

Hello, I'm new to bigger pockets.  This is such a wonderful forum.  Exactly what I need.  I'm doing my first Flip and start meeting with General Contractors tomorrow.  

Is there anything that I need to be sure and ask them? Any advice?

Thank you!

Dawn