All Forum Posts by: Holly Scott

If it’s not too late my realtor is. I can PM you the info.

Hi @Account Closed! I too am a new investor in Colorado Springs and teller county. We sold our first flip house in April 2017, and we did really well on that one. Since then I have made many, many offers on other possible flips and they have all sold for more than I’m willing to pay. I honestly don’t see how any investors are making money off these houses!! The margins are so small, I have to wonder what I’m doing wrong! At this point off market deals seem to be the only way, and I’m even considering other markets like Pueblo, or out of state. Or possibly buy property and do new builds. We would certainly love to network with other investors and brainstorm and learn!

@Russell Brazil, I see your point. Guess I hadn't looked at it from that angle. My agent has been pretty awesome and I enjoy working with her. She was my buyers agent on the last house and she listed it for me. I am a repeat customer.

I am in a very hot market and good deals are gone within a day. So it can be highly difficult at times to get our schedules to agree. She may not have time to show me a house, and I lose on the opportunity, and this has happened in the past. I guess I just have to get comfortable with seeing only the outside, or sight unseen offering? As an agent, what do you suggest for investors to do in these situations? 

I currently am going to school for my license. But I will still want someone to write contracts and be my listing agent, as I don't have time (work full time, for now). So I am working ways around this, but doesn't help yet.

Additionally, while I have your attention, how do I breech the subject of perhaps lower commissions, as I am not your typical home buyer. I may buy and sell with an agent many times in one year. I have heard that many investor friendly agents offer discounts to investors for this reason?

BTW, the house I was thinking of when I wrote this post, I did go and look at this morning (outside only, peeking in windows) and had my agent put an offer on. Truly, I just wanted to get into the house before doing so, but that wasn't possible this time. Good thing for due diligence and objections.

I get listings from a realtor I have worked with on my last flip. But I have no way of seeing who the listing agent is. Sometimes she is not able to get me info right away (I am not her only client:) and I would like to start making offers directly to the selling agent when necessary. How do I get this info? When I search the listing online I get many different realty sites but no way to tell who is the listing office

@James Carlson, great advice!! Thank you I will absolutely check into those! Thank you!

Jared, this is good info! Essentially the private money is a friend and we could probably work it so there is no second lien. As far as the rental, we would only do AirBnB from June through September and we'd be hitting September by the time we are ready to refi. So my goal is to get it rented for the short term lease (September-may) and to use that to help refi. I plan to market pretty heavily to the college in hopes someone will like a furnished, trash and water paid rental for the school year. But I will have to find a lender that does HELOC on investment properties:)

We do not intend to owner occupy, we intend the AIRBNB during the summer months and rent short term lease during the winter months. This area has a bible college which have no dorms but brings families from all over the world to train in ministry for their churches. They need housing during the school year and they snatch up all rentals in the area. I checked on the vacation rentals in the area during the summer. There aren't a ton but they're booked solid all summer long. This house is ideal for these purposes.

Hi Bill, so the rehab will be 35-50K. But the other costs are related to financing costs as the hard money will be expensive And the holding costs. I think I may need to try and reach out to the sellers agent and see about asking the seller about seller financing. 

Of the 250k, most will be financed. 200k from the hard money (75% of the ARV), and then some from a private lender and some from a HELOC on our primary.

Ideally we would want to refinance for 75% of the appraiser value after rehab, not the purchase price before the rehab. And then be able to utilize a HELOC to repay the private money and out primary HELOC. This way we can go ahead and do it again.

Do you know if any banks that may do this?