All Forum Posts by: Account Closed

i see a property listed at 50k and they found asbestos on the siding. resale is 130k.

right now i am in the fix and flip business. are deals any harder to find? is the business of fix and flip to home builder somewhat identical?

@Doug McLeod

thank you

bump

so do i do 2800 *12 / 10% cap rate?

this guy has 4 duplexes that he wants to unload.  he was initially asking 450k for two and 500k for two. but if i bought them all he'd drop them to 400k for two and 450 for two....

1.7m total. 

there are no comps that i can find.  

duplex 1  net income is 2800

duplex 2 net income is 2800

duplex 3 net income is 3200

duplex 4 net income is 3600

expenses

duplex 1 prop tax is 7300 yearly

duplex 2 prop tax is 7500 yearly

duplex 3 prop tax is 7400 yearly

duplex 4 is 7400 yearly. 

he said insurance is roughly 700 each yearly.

 he said tenants pay all expenses and pay extra for their electricity and water and stuff. 

what else am i missing?

or lease options or sub2 or rehab books

know of any good real estate books? not looking for anything inspiring, i've read enough of those.

any good foreclosure books?

is my criteria too broad or is it fine?

i look for SFR, Condos, Multis in the 250k range but i will go higher or lower as long as the profit is there.

and i need to get the property at a good discount. non REO

is that too broad to tell an agent or should i set my criteria more specific

when i tell an agent i want some properties they send me 100 listings of REOs that need work.  they all need work which is what i am looking for and all 100 listings look like i would make profit on them.

i work with my partner who analyzes the properties before we make offers and he cant check out all 100 properties. so i am trying to figure out how i can make the best of both of my time and my partners time without making offers on all 100 propeties (unless that is what i am supposed to do)