All Forum Posts by: Hersh Shah

@Sanjeev Kumar Welcome to the community!

There are plenty of metro markets in the south east that will give you what you are looking for. Specifically Atlanta, Greenville, Charlotte, Raleigh, Jacksonville and much more.

I would suggest you find a market that you like and zero in on that market until you have a large enough portfolio there. Once you do that, you can diversify by repeating the cycle in a different market if you like. I would advise against multiple markets from the beginning due to the simple fact that it gets harder to scale.

Hope that helps! Welcome again :)

@Lara Nicole ideal is subjective for every person and every situation.

If she knows your criteria and why you are buying the house then her answer is fair based on what she knows about your search. What’s ideal for a tenant isn’t going to be ideal for you as an owner occupant.

Make sure you two are on the same page and you won’t have to second guess the professional you have chosen to help you!

@Nicole Shah @Austin Grant McDowell

GA does offer reciprocity to SC. CE credits are separate for each state though so if you get GA and want to maintain it, you will need to continue with your CE credits. Once you have SC, you can go to NC because of their reciprocity, but again CE rules apply.

The biggest thing you want to consider is the cost of having your license active in multiple states. Hope that helps!

@Jay C. You would really need to get clear on the HOA rules to see if this is something they allow. You would also need to know the true purpose of the operator and have it spelled out in the contract in the event they pivot to something that isnt allowed per your HOA or something you aren't comfortable with down the road. Also make sure the agreement you sign with them gives you an out should you need to exercise it.

@Dov Klitnick

As a lot of other have said, you need to have a conversation about your expectations and her reality. The truth is, she is an agent and has other clients that she could be meeting with for showings, appointments, personal life etc.

Its perfectly normal to give the client she is with her undivided attention and do the same for you when she is with you.

If a couple hours is too much, go find a rookie with no clients. That is even tougher to deal with.

@Mark Grozen-Smith I agree with what @Kenton LeVay said.

Use the pictures as your guide because your ARV will also be based on those same comps.

Mario, I would need to know more about the deal to be able to provide better advice.

First thoughts would be you can use the funds to buy using FHA loan if you can qualify for that as Conventional will be much different in terms of credit and down payment requirement.

You could partner with someone with great credit and no money.

You could try to do seller financing if the seller is open to it.

Hope that helps 

This is insane! It proves that your attitude will determine your altitude! Great job!!

@Chris McKenna congratulations! We are on the hunt for one ourselves!

@Abigail J Steinert I wouldn't recommend getting a license for the sole purpose of buying and selling your own flips.

It may seem like agents don't do much, however there is a tremendous amount of time spent learning contracts, negotiating and actually being a fiduciary (for yourself or a client) that it likely won't be the best use of your time or energy.

In addition to that, if you flipped the house you will have to disclose that you own the house and are acting as an agent. If you don't understand contracts, a seasoned buyer's agent will take full advantage of you (it is their job to represent their client, so you cant blame them).

My advice would be to build great relationships with investor friendly agents that can bring you off market deals or start marketing yourself to find off market deals and have attorneys close on the transaction if saving money is a priority on the buy side. (Side note, you don't pay to buy with an agent so that's free too)

On the list side, its probably a good idea to have a listing agent list your house that has done it several dozen times. If you plan to do volume, you can negotiate a commission rate you both feel comfortable with. There are tons of free and paid calculators our there that will let you build out a true flip project estimator which will go over selling costs to agents etc.