All Forum Posts by: Jasmine Claye

J Scott -

Sounds like a great way of doing things! The 15K profits add up over time & you've made just as much profit as the person who's spent a month or so renovating while you've only spent one week!

Bryan -

I was looking nowhere in particular but I think the East or South side would be the best areas. Where have you found homes for as little as 10K?

Wow , Thanks for the information. I

understand that there are a number of ifs,

buts & maybes when it comes to finding a

good investment property. I hope to be able

to shadow an investor on their deals & learn

even more before I start.

Thanks again!

Brandon Kamm -

I think of a starter home as one that needs

repair but nothing as serious as rewiring the

electric system or anything that has to do

with the foundation of the house but simply

replacing the floor, updating the kitchen &

bathroom etc. My question is, has anyone

ever purchased a house in this lower range &

if so, about how much was spent on repairs?

I am looking to obtain a bank conventional

loan & my goal is to purchase as low as

possible without spending a lot on repairs &

flipping it to make a profit.

Thank You

What is the avg price of a starter investor home? I've

heard someone say that you can purchase one for about

35K. Is this true? If so, the repairs must have been a lot of

money. A home for 35K could run repairs from 20-30K

correct? Which is a total of 55-65K. It is a trade off

between purchasing a house for cheap with a lot of

repairs, and purchasing a house that costs more

with less repairs so how does this affect the loan?

Is Wholesaling similar to what a buyer's agent does?

Or is there something different about the two jobs that may allow someone to wholesale who is not licensed to act as a buyer.

For a person to "act" as a buyer/invetors agent, they do not have to be licensed do they?

Ok, im confused. Does the seller pay the buyer's agent or does the buyer pay the buyer's agent?

What is the average amount that someone acting as a Buyer's/Investor's agent gets paid? i.e per house.

Brendan J -

Thats what I was assuming. REO, FSBOS, etc., will yield a return automatically but I was thinking that even a bad market would not yield a decent profit. But thank you for explaining.

Will -

Just curious to know how you have managed to do a number of flips and made a great amount of profits with the market being down? I assumed with the market being as it is, more rentals came about more than anything.