All Forum Posts by: Mike LaCava

Does the rehab cost include the septic repairs?
My concerns are you changed your original ARV from 250 to 280
albeit that 250 is conservative you can't just change it to 280 to make the #'s
Who did your comps and do they know that area inside and out and the effect the highway will have on ARV and resale?
Did you research what Mark Ferguson mentioned about the basement sf and it relevance. very important in valuation
What land? I may have missed that. Is it a buildable lot?
Your getting there so keep it up.

Anybody know of any deals in the description below. A friend of mine is looking and thought I would check here on BP for anyone working the Florida market.

Mike,
We are looking for single family home 2 beds 1 or 2 baths 900 to 1400 sq/ft
location between Key Largo and Marathon. Reason I reached out to you seems
there are still a lot of properties down there under foreclosure. Cheryl and
I plan on going down end of September for 4 weeks this will give us time to
look.

Thanks for sharing that John Fossetti. I am sure Jason Brooks will learn from it along with all of us from BP. Goes to show you sometimes the "experts" get it wrong. Damn.
I know I will ask a lot of questions if my engineer tells us to pump out the water.

what's up Nick Aalerud. Well I had my rough start and lost money on my first flip after talking about getting into it after 20 years. Felt Like getting kicked in the stomach. Never will forget that 1st flip.
Check out my podcast if you want to hear it. After reading your story and hearing you speaking it live I agree 100% with your statement about not changing a thing. It is what makes you who you are.
I remembered meeting you the first time at a reia meeting and thought to myself someday I would like to be like you. Now that's legit. Shut up and do it!!!!! Great to see you chiming in on BP
Great site with great people and you are certainly one of them my friend. Keep doing what your doing and see you at the top.

Ok Jason Brooks. Send me what you have and we can talk!
do you have a lender lined up? I must say I am impressed with your
attitude and you will get your breaks from hard work for sure.
if you can make the trip down I will take the time to talk more with you. I am in acquiring mode and need to work with hard working people. Your timing might be real good here so let me know.

Welcome Brian Illingworth to BP. You will find this is a great site.
Lets us know how we can help.

more great advice from Ann Bellamy. Septic can put you out and under. Ask John Fossetti as he is dealing with this issue right now.
John share your story to educate Jason Brooks

welcome Colleen F. to BP community. It is a great place with a wealth of knowledge! Nice to see Mass people on here.

welcome Sandra Ruiz to BP. Great place to learn as you can see to the comments from the members. Just like others have mentioned and a great description by Paul Timmins laying it out for you on the local REIA groups. Best of luck in your pursuit and keep asking away.

Way to take action Jason Brooks and Karen Rittenhouse gives you some great advice. As much as you want to hit the ground running which i commend you for take some time to slow down. You must crawl before you can walk and it looks like you are running full speed. Sorry didn't mean to get all sappy on you but the point is be careful. Just like you acknowledged in your first comment you left out the wiring and plumbing.....and other info. Look into that basement sf as mentioned by Thomas Quinn & Mark Ferguson. Keep getting answers to all the questions and you be getting closer.
Did you get a cost estimate from you contractor. If so send me a breakdown to look at it. Did you do the comps your self? Its good to do that but you need to talk to a local expert realtor in the area and see what he or she thinks the ARV will be then you can cross compare to your comps. Keep it up your on your way.