All Forum Posts by: Jeffery Waicak

I've been  thinking  about this for a while  and would  appreciate  your feedback. I'll  give some examples. Let's say I flipped  4 houses last year, averaged  15,000 on each. then this year's  goal would  realistically  be to flip 6, and make say 20,000 on each. So now we're almost  4 months  in. I have  one done, offer pending and see no great deals, if I do other investors  are beating  me to it or out bidding  me for them. So now I'm worried, clearly  missing  the weekly and monthly goals along the way, basically  I feel like a failure and maybe  try to be more competitive in the bids and get myself  into a property  that is not that good.on the flip side of it. We're almost  4 months  in, I have found  4, closed 2, for 25,000 and 28,000 profit. My goals are being  exceeded so what should I do? Sell the other 2, flip 2 more by August and take the rest of the year off?  

Instead  I feel like a clear path forward  is best. There's not a straight  line. Im going  strike out some and hit home runs at times as well. 

Stay focused  know where you are trying to get, don't let an arbitrary date or number  cloud your  vision. 

Thoughts?

I think it could be a great idea. That way you as a pair could  remove realtor  fees, and have 0 days on market. In consideration for that, the flipper gives you a discount and can still make a good profit! 

as I said I'm new to it as well. but if  you're local, we can maybe learn from each other

I'm from the canton/Massillon area. just starting to flip

good point, I feel you may be able to charge a bit of a premium because they are getting exactly what they want. but I think part of flipping is in the art of finding inexpensive things look more expensive. 

i agree, just kind of thinking out loud. I did this once with someone I knew and it went well. the house turned out far from beige and neutral and she loved it.  But to do that on the open market idk.

has anyone ever tried this? basically do the rehab 100% on the outside,so it has nice curb appeal. do all work inside to the point where you have drywall up and primed white. then market as starting at your lowest price with builder's grade finishes or better depending on buyer's budget and taste. have them sign a contract and give a sizable deposit and finish to their liking? 

as far as I know, hard money lenders are private money lenders. the one I use loans from a self directed IRA. No bank qualifying and yes, higher interest rates. I met my lender looking for loans. now, if you have a rich uncle that loans you money to invest,he would be a private lender but not a hard money lender. I could be totally wrong but that's how I understand it

then I guess I better hope no audit

it  doesn't make sense sorry. I bought the house intending on being my primary residence for at least a decade, I bought the replacement intending to live I it for at least a decade. perhaps flip isn't the right word but yes it was an unsolicited offer.