All Forum Posts by: Emilie Benn

Great advices . thank you @Taylor Shields 

@Taylor Shields  

I understand their positions (Phoenix redevelopment) - I think my feeling is a bit bruised because it could have been an awesome deal if it would have gone through. Oh well, one miss a thousand more to come. 

Yes we are mostly looking at RMLS - we both working full time, it would be hard to go to auctions, or even work in prospecting homeowners that would accept a cash offer. 

Plus we are not yet 100% funded. We still have questions on that and finding best ways not too loose all of our assets if a deal goes bad - we are risk takers but we don't want to be stupid neither. 

Our real estate agent presented a property today that is sub divisible with a fixer on it.  Our next door neighbors are looking to sell their house and buy a piece of land to build so I know that if we find the right property we have buyers for the land. But that listing is a bit more than what we would like to start with and the paperwork for the plat lot even though already in process at the county may take more time than fixing the house - then we can be stuck with a house on a lot that is not divided yet. (Though could be a rental if needed - but not the goal). 

So much to think about. 

Also my husband was thinking to Propose a JV with the REI who he is working for - but he is not too sure what to propose. Thinking about offering time + material as investment and getting a percentage of the profit (15%) in return with a minimum matching the investment.

Sorry for long note ... So much in our heads right now and really looking for people with experience that can guide us. 

@Taylor Shields  @Kenneth Hynes  - we were looking at this house on the RMLS - owned by Investment firm that buy/wholesale and flip houses as well - so they should have the renovation team.  They Bought it cash from owners at $205k back in October, put it on the RMLS in January for $300k without touching it  though it is a complete rehab ( you might know which house I am talking about). Our real estate agent contacted their real estate agent to see if they would accept something closer to what they bought it for and their real estate agent pretty much said : "no, if they dont get what they want now, they will rehab it themselves".

My thinking as an inventory manager: "why would they have wasted 3 months of holding a property without making a dime ? this is pure loss profit for them; instead of getting rid of it and take a quick loss, they are going to need to raise more funds to rehab it, and at the end they will not make that much profit if any because of all this time lost. " 

But then Humans make mistake mostly when cash is involved. 

@Taylor Shields yes that was my question. 

I was thinking to go to the first meeting of the month in February at the Lucky Lab to see what we can learn and who we can meet. 

We renovated our first home in Parkrose heights - we bought it in 2005 and sold it for the highest per sq footage in the all neighborhood in July 2013 - sold in 4 days with multiple offers over asking price (yes in Parkrose heights ).

We bought in Vermont Hills another fixer (at less than $150 a sq/ft). So yeah not a bit afraid to do low-ball take it or leave it offer.

Dave has done remodels for his job mostly in NE and SE (Dekum triangle and Woodstock - not surprising ...) 

Now that we are living in SW PDX I would like to find a family house to flip- they are a ton of cosmetic fixers but I always think they are overpriced :-(  Plus  without knowing how we are going to finance , we cannot just write up an offer...

Our dream will be to specialize in mid-century homes - Mad Men style.

With that say I have a question... Someone says that there is no stupid questions- so here it is: "why a real estate investment firm would put on the RMLS a rehab house way over valued for the amount of fixing needed ? as a Real Estate investment firm would you not have the cash to fix it and sell it for a higher profit instead of having it sitting on the "public" market for months...I have multiple theories - one might involve some conspiracy - lol - but would love answers from the pros.

Emilie 

Thank you all for your warm welcoming. I am going to start digging and connecting; I will keep you posted on our progress. 

Cheers!

Emilie

Hello everyone,

my name is Emilie and my husband is David. We have been looking to invest in real-estate for the last 6 years but never took the plunge - we have read a ton of books, watch a ton of videos etc.... 

My husband is a contractor and he is helping flippers renovating their investment ; I love driving around town going to open house and I am "interior decorator" at art.... so we decided that this year to we should really do it. 

I am digital marketing manager for a luxury automotive dealership and I am planning to pass my real estate license in the next 90 days. I have been in sales, advertising and media planning for the last 12 years.

My husband was in the construction battalion (sea-bees) in the Navy and is a master inspector in Concrete and Metal construction. He has been renovating houses for the last 3 years.

We are currently living in our second fixer-upper which we are planning to stay for the next 10 years.

We are looking for hard-money lenders. We both have excellent credit, assets, the tools, hands and brains to make real-estate projects happen in a fast and profitable way.

I am looking forward to learn from people who have the experience and meeting new partners.

Cheers !