All Forum Posts by: Richard Ayvazyan

Joe,

There is nothing wrong with that, however I am sure you would agree that not all properties will have both 1) must cash flow at x amount and 2) must have good resale potential as an exit strategy. 

 If I was to choose, I would choose no 2.  For me this makes more sense.  I don't usually buy and hold, maybe that is why.  I would much rather buy and flip as much as I can and keep stacking those reserves for eventually buying commercial buildings.  

I guess going back to your question, it really depends on what your ultimate goal is.  If you are looking to buy and hold then brick would be just as fine. You can always do more modifications/additions in the future, if you decide to exit.  But if you are looking to resale, then I would go that extra mile and rehab with the standards that are trending in that immediate neighborhood.

My most important criteria is the ARV. If the subject is anywhere close to 70% of the ARV, then I would spend the extra time inspecting the property for the rehab repairs.

Hope this helps..

Check out the Fliper Report for details: http://www.fliper.com/report/572

Please contact listing agent directly.

Thanks,

Forget about Beverly Hills, the money is in the hood.  Check out the Fliper Report for details: http://www.fliper.com/report/563

Call Listing Agent for details.

Thanks,

Rich

I am looking for Hard Money Lenders in California for possible partnership. We are running some experiments with our current users and would like to talk with a hard money lender that can offer creative/aggressive financing. 

Our current users are all Real estate investors/home flippers.  

If you hare interested, please PM me for more details. (principals only please)

Thank you,

It seems to me like you don't need a partner.  Looks like you got a handle on things, owning 10 rentals.  Going back to the old saying "If something works, why change it".  

However, if you really want to get someone involved in your ventures.  I would start her off as a regular employee and at the same time give her the option/clause to buy in at a certain percentage for a certain period of time.  

This would give you some time to work with your friend and see if the business relationship is to your liking.   You may be friends now and everything might seem great now, but as soon as you had money to the equation, things change (speaking with past experiences). Not that it will!

Hope this helps...

Jumping into land/development would be the right choice.  The more skin in the game, the more return on investment.  However, like other posts in this discussion, it is not for everyone.  

Start off slow.  One parcel at a time.  Once you get the hang of it, then you will be hooked.  The returns will speak for itself.  Also, try pre-selling your end product before even breaking ground with ads and renderings of the future home site.

I have building custom homes for years. Construction costs can very from project to project. Lot of factors go into each build out: (location, public works, utilities, and most importantly the which level of finishes.  

The class of finishes determines your construction cost.  Luxury finishes can range from $200 to $350 a foot. Minimum standard finishes can cost between $90 to $125 a foot.  

You can see how this would impact your construction costs and ultimately your return on investment.

The marketplace is a good starting point.  How else would you get to know or meet people that you can connect with?

1. Yes, become a real estate agent is definitely a big plus.  You can make all the offers you want without the extra filters.  Also, you can eventually keep the commission or at least part of it.  This is specially important when you are flipping homes.  Instead of paying other realtors to sell your home, you can be your own agent and sell your own house.  Think about the amount of money you can save.  After all, flipping homes is a number game.  

2.  In the mean time, if you are not getting results with your current agent.  Try going directly to the listing agent.  The listing agent will be more enticed to double pop a deal rather working for only the seller.