All Forum Posts by: Glenn Levy

Words of wisdom from Shia LaBeouf. That's either irony or an oxymoron...not sure which, maybe both. Congrats on the first rental deal Jonathan!

Thanks Brian for the reply. Can you elaborate a bit on Propstream? Does it provide you with the ability to organize, manage and track multiple jobs/offers simultaneously, similar to a task-board? Or, are you doing that organization and tracking outside of Propstream? I am big on organization and would really like to do everything within one platform if I could.

I've been doing a lot of research on software solutions to use for Fix & Flip and wholesale deals and was hoping to get some feedback on both Propstream and Flipster. There isn't a lot of user reviews for Flipster, but I do like how user friendly and intuitive it looks in the demos (Jerry Norton is a great salesman) especially with tracking multiple projects/offers/deals simultaneously. I have seen a handful of reviews stating that customer service with Flipster may be a little lacking which is concerning. 

The property data and analytics in Propstream looks very strong, but I don't see that it gives you the same ability to build, track and organize multiple projects like Flipster does.  Any feedback or user experience on these platforms is greatly appreciated.

Thank you all!

Good point! Single family home, 4bd, 3ba, 1,900sqft Ranch. I gut renovated the home including all of the big ticket items (roof, mechanicals, windows, flooring) with mid-high end finishes for kitchen & baths. The house is in a great family neighborhood, in a commuter town outside NYC area. Great flat lot size with big backyard on a dead-end street (this is starting to sound a lot like my listing description). The deal was all cash. I got a ton of traffic in the first 2 weeks, now a slow trickle. The feedback has been mostly the same, the house shows great but is just too small with a bit of an odd layout (built in 1952, different times back then). I tried to get top dollar out of the gate, but had to lower the price based on feedback. Now I think the house has a bit of a "stink" on it.

Hey All. I am new to BP but glad I found such a knowledgeable and forthcoming group of like-minded people. I am hoping to hear from other fix & flippers who had a project that did not sell as projected and how you possibly overcame it to avoid carrying the property for a long time until it sold or avoid selling the property for a loss/break-even. The house has been listed for almost 1 month now and I have lowered the price twice. I know sometimes you have to cut-bait and move on, but I have been batting 1000 since starting 4 years ago, and would love to hear some out-of-the-box ideas that others came up with. Thanks for any and all feedback!

Owen D, can you elaborate on the escalation clause you use in your offers?

My first 4 fix & flip projects were all from the MLS. However, like some previous replies already mentioned, the properties were sitting a while (>60 days) for different reasons and I was able to get my below asking offers in and get into a negotiation with the sellers. Most of them were foreclosures so I was dealing with a bank as the seller. When starting out, it helped having the agents involved with the process, which is the case with any property on the MLS. My attorney also helped (I'm in NJ which is an attorney close state), but there were things I did not need to worry about for these first few deals which helped a lot. Staying away from new listings that just come on the MLS is great advice since you will probably end up paying too much for a property since there is so much competition and you are anxious to "just get your first deal". Don't get tempted. Run your numbers and stick to them. With all that being said though, I was willing to overpay a bit on my first deal so that I could get my feet wet and educate myself on it. What I learned on my first deal was invaluable and well worth paying a bit more for it. I'll probably get ridiculed here for saying this, but I was even willing to just break-even on my first deal, as long as I could get in the game and learn how to do it. Good luck!