All Forum Posts by: Dylan Onorevole

2 months ago, my client closed on a property for $120k. 2 bed 1 bath. The rehab costs are anywhere from $60k-$80k. ARV is looking to be around $315k. Expecting a 4 months turn around to put back on the market in Early September.

It was an REO property and we got it for $30k under asking price.

I appreciate the response and your expertise in this field. That is definitely not a bad rule to go by but realistically that's not always going to be able to happen. My question for you is would you say no to a deal if you don't get that exact 2x of the ARV?

For the unexpected problems is a good point, but thankfully we got a very in depth seller's disclosure/OPRA which pretty much put that concern to rest. 

In terms of appraise of the property, my client has no plans in selling nor refi and is just going to let appreciation do its thing. The main focus was the cash flow which we will be getting. 

Again thanks for the comment, love this kinda talk. 

 Exactly right, it's way up in Sussex county. 

 lol only may have been the wrong wording but my client has been in the construction industry for 35+ years and has done flips well over $100,000 (hence, the only). That being said, the property will also appraise for around $290,000. 

 Should've mentioned this in the first message, but it's $290,000. Used 3 comps that sold in the last 6 months in the in the same community. 

Last month my clients closed on an a 3 bed 2 bath investment property in a lake community in Northern New Jersey for $162,000. Can you believe that price? Of course it's a little rundown but with only an estimated $100,000 fix up it'll rent easily for $2,500/mo.
We got this deal through auction; which was the main reason we got it so low.

Thank you Shawn, I respect you a lot so I appreciate this so much. I love bouncing our knowledge off of each other and others to help all of us grow! 

Hello everyone my name is Dylan Onorevole and I am the most determined realtor at eXp. Despite being the most determined I am not the most experienced. I've been an agent for 3 months and throughout that time I've learned a lot. Most importantly that real estate investing is where you want to end up. 

I've been taught this for years from my dad who is a real estate investor himself and now as I enter the real estate industry look to join him. Due to him being very proactive in my learning process I've been a part of a lot of flips and a few fix and hold properties in my life.

Real Estate has been such an important part of my life for a while and now I'm able to use some of my determined abilities to help other investors as their agent. 

If there is anyway I can help at all in the Northern New Jersey area, I'd be more than happy to!