All Forum Posts by: Jason Pritchard

There are some inspections/certifications that need to be completed on the well and spetic systems but besides that there are no other contingencies.  

We have already accepted that offer as a back-up in case the first offer falls through.  

There are no contingencies on the appraisal but that is something that I am interested in seeing.  The area that we are in does not have a lot of inventory/sold comps and only 2 recent comps that I can see that support our price.  Our agent feels like we are in the ballpark but as this is my first flip I'm unsure where the appraisal is going to come in at this point.  

Overall I'm very happy with the offer we accepted and obviously it's easy to look back in hindsight now that there is a better offer on the table.  My personality is one where I am always looking to maximize productivity/efficiency/profit and I want to use this as a learning oppurtunity for future projects.  

Hey Everyone,

I just completed renovation on my first flip and went on the market a week ago.  Within the first day we received 2 offers for about $20,000 below our asking price and after another 2 days we received a full price offer that also included an additional $5,000 towards the buyers closing costs.  We countered back at $2,500 towards closing and the deal was accepted.  One day afte going into escrow we received another offer which was essentially $5,000 more than the one we accepted :( 

We're going to do well on this flip, so I'm definitely not complaining about my situation but for future reference I would like to ask the more experiened investors on BP the following question:

Do you think I should have held off on accepting the full price offer and let the property stay on the market for a little longer?

Awesome video guys, just subscribed to your channel.  Production quality was great overall, the audio towards the end was a little of sync for me but didn't detract from my viewing experience.

Hey @Antonio Coleman, thanks for the welcome.

I understand, that's my plan and was just trying to get clarification on @Zachary H.'s post.  We're moving forward with the section 121 exclusion as my partner will qualify for that.  Thanks again for the help.

I'm meeting with a couple different contractors on Monday for my first rehab project.  This thread's been helpful.  Any other advice, questions to ask, or things I should know prior to going into these meetings?

Hi @Elizabeth Colegrove , thanks for the welcome. I got a chance to look at your blog and it seems like a great resource. Do you do all of your REI in the Hanford/Lemoore areas? I'm pretty familiar with both towns as I used to do a lot of work at the community colleges in each city.

Hey @Dmitriy Fomichenko , Thanks for sending me those links, I just set up my keyword alerts now.  

@Dave Foster I appreciate the advice I'll stop using the term "fix and flip" when dealing with property that can potentially leverage a 1031 exchange.  

@Zachary H. the 121 exclusion sounds like our best bet but if I misunderstood something let me know. 

Hi @Brad Roltgen and @Mary lou Long  thanks for the welcome it's nice to connect with some other new RE investors from the Fresno/Merced areas.  Hopefully we can meet and work together on something in the future.