All Forum Posts by: Jeremy Quilon

@Joe Villeneuve

Good point! Appreciate the feedback Joe.

@Joe Villeneuve

Sell price $375K. Purchase at $310-320K. ARV $400-410K. It's a tough market her in Hawaii so I crunch my numbers using 80%. Using 70% rule will throw the deal out the door.

Exit strategy hold it for rent until it appreciates.

Any thoughts? Shall I just through this deal away?

@Joe Villeneuve

My primary intention is to fix and flip but if I can’t sale it at the price I want an exit strategy is to rent it out but there’s no way I can charge rent 2% or 1% rule, so what other way to rent for the cost for holding cost (mortgage, maintenance, tax insurance etc.). I mean I probably can throw in a few extra hundred dollars depending on the rehab I do, but is there other strategies for exit if my flip don’t work? Please advise.

I want to implement the BRRRR strategy but where I live the 2% or let alone the 1% rule will not work. Any thoughts on buying and holding for few years to resale for appreciation?

@Arthur Crum

Good advise I have a realtor that I purchased 2 properties and he was my buy and seller agent. He did a flip as well. You’re right more practice the better.

@Tom Shallcross

Thanks I’ll look into your profile.

@Tom Shallcross

Good point! One question that I have when you mean lower end for example 1/1 or 2/1 condos as oppose to higher end value 3/2 single family home?

Also with your numbers buying at $325K and able to resell at 500-600K I’m curious what’s the comps around the area? Are you mainly gearing towards distressed homes with a lot of TLC going into the rehab?

@Fred Shatzoff

Thanks I’ll look into that.

@Dan Heuschele

Thanks for the detailed example, so to get your 30K profit did you calculate 70% rule ARV x70% minus the rehab cost? Just wanted clarification because I got lost with the numbers you provided.

@Greg Dickerson

Thanks