Howdy Y'all!
I'm a newbie from Austin, TX and I am excited about embarking on my REI life! I have bought, rehabbed, and sold 1 primary residence and in that process found another primary residence that I bought while our other house was on the market and remodeled it. Because of my passion for RE that I have always had(I have no idea why I did not get into the business from the get go), I am now expanding and putting an addition on my house and getting ready to sell it so I can use the equity to begin. I am looking to begin doing flips and along the way buy and hold rentals. I want to jump in with both feet NOW,well after the sell, but will TRY to move prudently into full time REI by year end. Hard to contain the excitement and passion ya know. I did have a question in all this and that is on my current house I'm working on, I have had someone reach out to me that wants to buy it already. It is not on the market yet and I will be doing fsbo. My thought is this and I have already presented it to the prospect, is that they can buy the house now as is before I begin my addition so they can put their vision into the property. I live in a highly desirable neighborhood so I asked for a high premium to stop construction so they can implement their vision or they can wait for the completion and pay even more. Is that a good strategy? also, would it be a good idea to put my sign in the yard "coming soon", and also continue this strategy? This is all in the time I am waiting for the architect plans and city permits which will be about a 3 week wait. Thanks for any help and advice. I look forward to learning from everyone on bp and eventually contributing and helping other newbies!
Salud everyone!
