All Forum Posts by: Jazmine S.

Hello all,

I am usually very comfortable in running my numbers but this one is across the street (directly) from a high school so your input is greatly appreciated.

Property in question: 4/3 1400 sq ft with pool built 1952

The below properties are NOT  typically what I would use for comps, however they are the ONLY properties that have sold within the past six months in that area! (Fyi, none of the below comps have pools).

Comp 1: 2/1 1000 sq ft 1956 low to mid grade home in decent shape 4 DOM $210

Comp 2: 2/1 900 sq ft 1956 low grade bathroom, great curb appeal, new appliances DOM unk $180 

Comp 3: 3/2 1200 sq ft 1957 **distressed property** 30 DOM $180

Located a few blocks away:

Comp 4: 3/1 1700 sq ft 1925 very low grade, a little bit run down. 90 DOM $250

The only other properties are across a very major street all going for about $320 for 2 and 3 bedroom homes with and without pools. This particular property is a couple blocks away from a very high-end neighborhood, located in a still very decent/well-kept neighborhood. 

My thinking was about 220 to keep it conservative, minus maybe about 15% for being across from the high school. Then I remembered that the pool will be a huge asset. 230 to 250?

Your insight is incredibly valued. Thank you! 

@John Leavelle It is for a flip, correct. Listing was 100, I originally offered 130, ARV is 190 on the low-end, 225 on the high. 43 rehab, ~5 for acquistions, ~5 for holding, ~13 for end closing.

Hello all, currently seeking a licensed agent that is able to provide access to the MLS for specific zipcodes (for example properties sold within the past six months), submit offers, and schedule showings if needed. I live in Ft. Lauderdale and am looking at properties in the area to potentially flip. Currently have one that I would like to begin analyzing so let's start!

Looking forward to hearing from you.

Tags: Licensed real estate agent, tampa, hillsborough county, pinellas county, fl, florida agent

Seeking REA in the St.Pete / Clearwater area!

Hello all, currently seeking a licensed agent that is able to provide access to the MLS for specific zipcodes, submit offers, and schedule showings. I live in Ft. Lauderdale and am looking at properties in the area to potentially flip. Currently have one that I would like to begin analyzing so let's start!

Looking forward to hearing from you.

Tags: Licensed real estate agent, tampa, hillsborough county, pinellas county, fl, florida agent

I just sent my Agent the news that I need to lower my offer or retract. I have @Brandon Turner in my head scowling at me when I think about trying to push through a deal that won't work to motivate me!

I will forever tell this entire story to anyone who tries the "money does not grow on trees" line on me. Incredible!

I have been searching for my first property day in and day out for about two months now, and with the market being incredibly competitive where I live, I managed to get approved for a perfect flip house by the blood bath we call Fannie Mae!

Incredibly exciting, until I found out that the GC I had lightly spoken to takes half a day (or even a couple of days sometimes!) to respond, and does not call when he sets out to etc., making me uncomfortable when it comes to working on something so time-sensitive as a rehab. I met with a bunch of GC's today for a full walk-through and met some great professionals with investor-friendly, reasonable prices. Noone was able to do the work for the same amount that the other GC had offered, which was about $8,000 less than my best offer (who happened to be the most experienced as well). The numbers simply do not work anymore. I have one GC who is going to run all of his numbers tomorrow to see how much lower he can go, and I'll see if I can squeeze something in that way… 

Otherwise, does anyone happen to know what would happen if I try to lower the offer that was accepted by Fannie Mae? A large corporation like that would just scoff and move onto the next, correct? Fyi, the comps and everything else really is superb, even with lowering it I would still be offering 20k above listing. No idea what their other offers were though.

I would feel beyond ashamed pulling out for my hardest-ever working Agent... But I have to remember it's always numbers over emotion! Would love your feedback.