All Forum Posts by: Lizina Green

I am so excited to share this but I will be closing on my first deal this upcoming Tuesday. I will be fix and flip. A little nervous hoping I estimated all my numbers right. If this works out we will have profit of at least $20,000 after all rehab, holding costs, realtor fees, and taxes. 

I finally decided to just pull trigger and to take the challenge. Nothing happens unless you act. 

Thanks BP. 

I agree with both John and Greg. 

Beside financial advantage does this lender have any other qualities that would be beneficial as a partner. Make sure you both have a fully thought-out contract explaining each other roles. 

Thanks. I appreciate the input. 

Has anyone every sent a picture with their yellow letter showing the potential seller their vacant, rundown home as a vehicle to bargain? If so, did it work? If not, what did?

Thanks

Lizina

Wow. Wonderful. I hope you achieve many more great successes.

Congrats. I hope to be posting soon about me and my husband's first flip. It is very exciting to take action, but alittle scary too. 

I gotta question: Should I a write a letter to accompany my financial statement.

Why do I ask? I have negative net worth due to my current home and my student's loans which high due to my profession. I have high annual salary which would support the purchase and carry the cost of the property even if remained vacant (the goal is to flip). Should I include a letter explaining these issues?

Thanks for you input

Thanks for your input. I think given the fact that we plan to pull the current walls down I do not think an infrared is necessary. I feel this should be included as a standard in any home inspection. 

I have an company that is offering 3 levels of home inspection. Standard ($375), Pro ($525), and Premium. The difference between the Standard and the Pro is the infrared detection and the rodent inspection. 

The home was built in 1973 and we plan to pull the paneling off the walls (which is probably has no drywall behind it). 

I am unsure the difference is worth it. 

This in addition to the bedrooms, not replacement. In order to do this addition, we would have to turn storage area behind the attached garage which would require insulation, electrical and HVAC duct. Oh and flooring. I have not gotten an estimate as of yet but I do not think this would be an expensive update.