All Forum Posts by: Justin Pierce

I'm diggin it. It's great the time and effort you put into this thing to facilitate interaction. Many other sites are all about the site not about the users. This site is an actual asset allowing users to interact, gain knowledge, and grow their networks. It seems you have the right mentality. You're saying, "let’s get rich together." The other real estate sites are saying, "lets work together to make me rich."

Kudos, Josh, you're on your way to being the face book or twitter of the real estate websites. Keep up the hard work and innovation.

Nick and Jon,

Do you guys live on the computer?

Thanks for the input. That sounds about right. I guess I have to stop being so cheap... riffraff like Nick. lol

Justin

Hey, I see how people like Jon Holdman have their logo in their signature line. I don't see how to do that. I know how to go to my profile and then click on my signature tab, but it only seems to let you enter text.

I'm stuck there. Help.

Yeah, I guess that's a pretty critical point; if you paid for it or not.

There is no hard and fast rule.

It's like Jon said, its purely based on profit. Don't just remodel a house for the sake of remodeling, unless you want a hobby. I love to add value to my projects. I'm always inclined to do the fix up, but I have to step back and look at the market, the comps.

Go out this Sunday to every open house you see. What's in the competing homes? Do an as is value and time on market guess on your home. A realtor can be a big help in pulling data for recent sales, a very valuable tool. Then try to determine what the property will sell for after the fix up. (Don't dream, try to find a couple solid comps to base this number) If the house will be worth $100k as is and $120k after fix up but the repairs will cost you $15k then ask yourself; is $5k addition profit worth the extra work and risk of remodel.

Yes, risk. You never know what you might find once you tear into a wall.

Costs are different depending on where you are and those software programs really don't mean much if you can't find a contractor that will work for that price.

Find a good contractor and get bids. After a few jobs you'll start to get a feel for the costs.

Experience.

Awsome post, Tony.

I have always had a fascination with affordable housing.

Get my juices flowing here. I'm a rehabber (mostly) a landlord (a little) how would you think it would be best for me to try to utilize one of these programs to increase my business? Bounce some ideas off me.

It looks like a lot of this is good for poor home buyers, but how do we the investors make use of these funds?

Thanks George, I'll try that out.

I agree, Jon. But 25 properties to get one... ouch! That's a lot of work brother.

I have to try to keep my ratios down here in Virginia becaue our purchase contract is like 30 pages. It's not that easy to just make an offer. My Utah opperations are a little easier because the purchase contract is only 6 pages.

Yeah, you're right, I'm awesome.