All Forum Posts by: Jeff C.

If I was confident in those numbers, sure I'd do it.

Same thing that drives the price for everything. Demand. People actually want to be here. Land value is accordingly quite high, and there are many locales where $300,000 won't buy you a vacant lot.

 Virtually every deal I do violates this "rule". In fact the vast majority of deals I've ever done over the last decade have violated this rule.

@Roy Valadez Oddly enough I'm from Bakersfield and also investing in San Antonio. I'm in SA now. Look up Seth Teel on here. He put me on to a San Antonio investor meetup that happens the first Tuesday of every month.. which is this upcoming Tuesday. I've been to it a couple of times. I assume it's still going on, but you'd want to double check.

$1300 a month on a $350k house? Man that's a terrible return. That's the same kind of rents I'm seeing in San Antonio on houses $200,000 cheaper.. and Texas has no state income tax (which is a reason I'm transitioning into that market).

Roughly 1200sqft of gut rehab will run a lot more than $30k. Also if these are bank owned why would you be paying for double closings? Sounds like a wholesaler presented you with this "opportunity"?..

I bought it because I knew there was still money in it. Nothing was really much of a surprise. I was far from new at the time. I'd say this was somewhere in the neighborhood of flip number 100. I'm just doing too many properties at a time now to have any one that requires a ton of attention. I could manage these greasy dirty deals if I was doing 3-5 at a time. I can't manage 15 of them at a time. 

$65,000. A dilapidated squatter occupied duplex that was part of a portfolio of properties that were being liquidated under court order (had been purchased by a real estate scammer with other peoples misappropriated funds). It was in a really tough area. The place would get disassembled at night almost as fast as we could put it together during the day. When I was finally able to get the major utilities on I had to have someone live in the property until the close of the sale to keep the place together. Nonetheless, we got it back together and flipped it, which was the intent from the outset. Though it produced a decent return in the end I'm not exactly looking for more deals like it.

You stand a better chance of turning $1 million into $0 in 3 years than you do of hitting $5 million.

@Craishia Millines

Senior liens are not extinguished by the foreclosure of junior liens.