All Forum Posts by: Dustin Mathenia

@Jay Hinrichs

Another dead give away is if they have a gmail. It might as well read

I'mascammer@gmail dotcom

@Sacha LaCoss

Definitely pay per job if it takes a day expect to pay 200-300. Not sure how you inspect their work if you're out of state. Also I would never let a handyman do tile or flooring. Probably not electrical either.. anyone can tile but not everyone is good. Another quiiiiick tip. Ask them what they're best at, not if they can do something, because they will all say they can do everything and then you turn around and see a guy having 9 pencil lines drawn on 1 piece of drywall that just needs a straight cut.

@Corey Rippeto

Any price is a good price if you can control the terms. But it seems like you need to figure out if she is the sole owner of the property first.

@Thomas Garza

I feel you! I think ..at least where I live people will buy at 80% so why would they not list it for that price. It sucks but it's just the market we are in right now deals are hard to find, that's why I started looking for my own and I will for sure wholesell if I get one I dont want to flip because it's a seller's market.

@Stephan Kraus

I would not do this deal as it stands.

But I would absolutely counter, you need to see what this guys motivation is to sell. Why is he not just selling it on the open market ? Why not sell it owner finance at 4%?

He obviously wants the cashflow or maybe he wants a bigger down payment ? If you have the cash lower the asking price raise the down and get the payments to a place where they do cashflow. If you can get a 0% loan the pay down is un beatable ..rent it for 5 years get some equity built in then owner finance it to someone else on a 30 year at 6 or 7% or as high as you can. Long term cashflow without the headache of tenants.. No one calls the bank when the roof is leaking .

@Matt Heidenfelder

Hey Matt, I live in Arlington and did a flip in Dallas and am in escrow on my current flip I did in Bedford. I would personally disagree with buying in Frisco or plano those are very expensive markets. I'm no expert. I moved here from Cali 2 years ago looking at Arlington 2 years ago there were dozens of houses under 100k plenty 60k 70k 3/2 to choose from now look at it the cheapest 3/2 is 130k at least! I even put an offer on the last 80k property I saw here in June, got out bid and that house was flipped for 170k. Even my neighbors house was for sale for 78k a year ago I put the Arv at 140 someone flipped it in a month listed for 160 got too many offers pulled the listing and ended up getting 178k 3 DOM. I think you're right on with HEB ( my flip sold 300k 2 DOM) Arlington grand prarie are great appreciation...and south Dallas if you're feeling ballsy !

PM me and we can sit down if you want .

@Timothy Boyd

There's a thing on Zillow called make me move where you list it for sale without actually having it on the market usually at an above market price . Maybe try that avoid the agent fees.

@John Krause

Banks haven't been interested in giving me credit because I don't have a normal job and I lost money last year on my first flip

@Ben Feder

@DeAnna Henson

Well they say losing money on your first deal is normal and a good learning experience and if that's what your looking for go for it ! (And I did lose a lot on my first deal so just hoping you can learn from mine and BP members experience)

But seriously that is not a deal in any way shape or form. Keep analyzing deals every day and eventually one will come across and after looking at hundreds of crap deals it will be such an obviously good deal you will buy it without a Second thought or worrying about losing money because you'll be like even if I go over budget by 20k I could always sell it make a great profit, rent it, brrr it or do a heloc because I have so much equity here from day 1.

With the numbers you put up you would need to get it for 15k to make it work and my guess is you'll go over budget on material theres a million little things you forget and it will seem like you spend 100$ a day at home depot and can never get everything .