All Forum Posts by: Jim Piety

@Bob Okenwa Thanks!

I'm hitting a roadblock in determining the ARV of homes in Texas. Because it's a non-disclosure state, I can't create a CMA. I could ask my agent to run this for me but if I'm looking at 10+ deals per day, I can't rely on him running reports for me.

So my question is should I get a license myself or is there another approach I am missing? A quicker way to estimate ARV? What do you other more experienced investors do?

Same here. Just seeing this now. Would love to attend the next one!

@Salvatore Lentini

Thanks for sharing your advice! 

I live in Austin (expensive and hot market) and have been sitting on the sidelines for awhile. Finally, in March, I purchased a cheap property to flip down in San Antonio through a wholesaler. It's almost complete and, while I am hopeful, I am somewhat nervous because the numbers are tight. I will bake in a larger margin for my next deal.

Recently, I spotted a great deal in Austin for $300k with comps at $600k. It was a total gut job, possibly a rebuild and I got nervous because I didn't have a contractor to give me a rough estimate. I figured $100k would be enough but that was a shot in the dark. Regrettably, I passed on the deal. 

What would you have done in the above situation? I am meeting with contractors this week to ensure that doesn't happen again. Alternatively, I could have at least bought the property and wholesaled it. 

Lastly, do you recommend a particular way of finding deals? I network as much as possible and I have some money so I don't mind purchasing lists. I can also cold-call. 

@Padric Lynch great story and great win! Hard to believe that somebody would do seller financing for 30 years and with 0% interest! Best of luck with this property

I, too, am eager to see the growth in San Marcos and New Braunfels. Currently living in Austin but doing my first flip in San Antonio. It seems like a good market but I'm still fairly new. 

@Andy V. Would love to connect and better understand your POV on zip codes/areas of SA to look in.

@Lynn Wise What makes you say Lockhart is poised for growth? 

Hey y'all,

I'm considering an investment in the 38109 Westwood neighborhood of Memphis. See specific location below.

Numbers meet 1% rule. Just want other opinions on the area.

@Brent Kiger @Russell Brazil @Account Closed

Appreciate all of your responses! This answers my question exactly: have multiple exit strategies. @Aaron Bihl is right that it's a bit difficult to find BRRRR properties in San Antonio. Most of the "deals" i've seen don't make sense as a BRRRR because the rent is too low. But they show profitability for a flip. But the volatility does make it risky.

I've been looking in the San Antonio market for BRRRR deals and so far, each of the properties that my wholesaler has sent me make sense as a flip but don't cashflow to make BRRRR work. Obviously, BRRRR is a more profitable, long-term strategy but what are the downsides or risks of flipping?

Oh wow, these are great photos! Consider me a follower. 

What do you recommend somebody who is just getting started? My biggest unknown is what the costs are to renovate a property. Should I just reach out to GCs and have them come to a property with me?