All Forum Posts by: Derek B.

@Adam Amero consider editing your title to more appropriately reflect the content of your question.  This has also been asked before so use the search feature to see others responses.

 The home may be worth 165k but it sounds like there is a mortgage - hence the pre-foreclosure 

Call me a pessimist, but I do not think anyone would buy a name or a list from you.  That exact list may not be public, but its data elements are and those owners are likely being marketed to if there is possibility of a deal in it.  If you really think there is potential in one of those names, get it under contract and then market it. 

 So you have a list that likely came from a public source and you want someone to buy the list from you?  How do you know the arv of every home on the list?  Did you do rehab estimates on all of these homes?  If he can make 50-65k so easily with this list, why don't you keep the list and make the 65k yourself??

Awesome story @J. Martin

Everything in this business involves risk.  The key is evaluating the risk and getting the proper price for it.  While many can speak from experience, @Lisa Ryan is in the best position to evaluate the risk in this deal.  It sounds as though she has done so And the applicants are otherwise very qualified.  Compare this to the insurance industry - if carriers refused to provide Coverage for anyone who had a prior claim, then none of us would have insurance.  

I have an iPhone 6 and mine has a really nice case.  If anyone wants to trade me that for their commercial building, let me know.

I just finished turning a rental and thought I would share the numbers.  We did replace the flooring in part of the home at a cost of $1800, but the rest of the turn was $500 and about 15 hours of my time.  

First, this place was left in excellent condition.  But, it still needed paint in a couple of rooms, 1 new toilet, 1 new light fixture, a shower rod, a new air vent cover, oven drip pans, some miscellaneous repairs and a deep clean.  

If you are new to buy and hold, don't fool yourself on the real expenses associated with rental properties.  Be sure you are factoring repairs, turnovers, vacancy and capex, among the other obvious expenses.  This is a solid A- property that attracts great tenants, but I can and do expect turnover costs each time.  Yours may be different - just make sure you know them and are funded for them.

It actually would have cost more, but we only had 3 days before the new resident moved in, so I did all the work myself except flooring.

I was doing some google searches on the average cost to rehab a property and landed on a forum response where J Scott had answered that question for someone.  I was shocked at the openness and thoroughness of the answer.  I was so convinced that I had somehow made it inside of an expensive members only forum, that I didn't navigate away from the page for fear that I wouldn't get back in.  I couldn't believe that people in the real estate industry would be that forthcoming with their knowledge.

@Sandy Wolfe  hit the nail on the head.  @Heather Plude is in fact a salesperson for the hi tech air that she gave she such glowing reviews of.  One can click on the link she provided, then the contact page and see her name listed there.  Heather, your product may be fantastic, but please do not come on the forums pretending to be a consumer recommending a product that you have benefited from.  You need to disclose your affiliation.  This community relies on the honest recommendations of our peers; not your using the forums to indirectly sell products under the guise of trying to help.