All Forum Posts by: Guillermo Kennedy

@Travis Phillips - wow, this is already "building up" (pun intended?) to be one heck of a story.  Your experience thus far is providing good information to other newbies who are also looking to or in the process of their very first flip. Very interested in reading the next phase of your rehab project.  Keep it coming!   

@Jeremy VanDelinder Wow!  Now that sounds exciting and a pretty good business/investing strategy to boot.  Kudos to making it happen.

May I reach out if I have any future questions on this subject as you seem to be a subject matter expert?

@Greg Dickerson, @Eric M. - thank you both for your advice and insight!  I have some research to do.  Thank you!

@Jeremy VanDelinder - how have things turned out with your excursion into purchasing fire damaged properties?  I am curious about it and thought you may have some insight.

Thanks!

@Greg Dickerson - thanks for the speedy reply!  Makes sense to have seasoned professionals who are well versed in fire damaged properties on the team or in tow if dealing with these type of properties.  Is this something that should be left to battle hardened real estate investors and not for the newbie?  Or if you are able to secure the right contractor then dive right in?  What are the top 5 or 6 things that an investor should be aware of if investing in fire damaged properties?  Sorry, but I think I've got a bee in my bonnet over this one!  I am rather curious about this.

Thanks again for providing a helpful response!

Hi BP Community!

Certain markets in the northeast have become saturated with investors with the larger, better financed ones snatching up the best deals through inside contacts and greater access to capital. I am always looking for the "road less traveled" which in my view tends to be more difficult but provides more opportunity since there tends to be less competitors. I notice that many investors (and even some contractors) skirt or totally avoid fire damaged properties. I wanted to get the BP community's thoughts on investing in fire damaged properties. Are these "diamonds in the rough" that have the potential to turn sizeable short term(rehab and flip)/long term (buy and hold) profits OR money pits waiting to suck the financial life out of all those who dare enter? Would appreciate any input on this as I saw a few fire damaged multi family properties that were selling at a deep discount (~37% of ARV) which piqued my interest. Thanks!

Hello Cindy!  I was able to connect with Marc Weisi here at Bigger Pockets along with Gonzalo Trenosky - great guys who are very serious about real estate investing!  I am going to refer one of Marc's contractors to you.  DM me and we can discuss further.  Thanks and Happy Real Estate Investing (sounds like a wonderful holiday, doesn't it?).  

Hello Michael - interested in learning more about your offering.  [email protected].

Thanks!

Hello BP Community!

As promised, I am reporting in 10 days from my latest post.  Unfortunately, have yet to secure a deal.  Funnily enough, I am more motivated than ever to secure a deal so I can rehab and flip my first property!  Here's to getting after it!

@Andy, thanks for the reply!   I will definitely up the ante in regards to making offers.  Expecting to report that a deal was secured in the next 10 days.  Thanks again!