All Forum Posts by: Joe Cassandra

Just found Wholesale Expo in Newnan(past the airport).

Got a real nice front door for $225. 

Looking at flooring with them ,but didnt get prices yet.

We went and checked out Home Center Outlet in Kennesaw as they had great reviews and found all the stuff was MORE than big box. 

In their defense, I believe they sell mostly "luxury" open box items. So if you want to feel like it's a million dollar home without paying the price. 

For a flip, it didn't help us

Where do you get your discounted 'big ticket' stuff in North Atlanta? We're in buying mode in the middle of a flip, and looking for places beyond HD and Lowe's. 

- Windows

- Doors

- Tubs

- Flooring/Tile

- Countertop

- Scratch and Dents

...etc.

My GC recommended Builder's Surplus in Smyrna(?). We normally got flooring and tile from Floor and Decor as they have decent prices on a few things. But open to hear more.

Where do you get your stuff? (Even if it's a specialty place e.g. a windows place). 

It really comes down to the motivation of the seller. If motivated, they'll happily drop the price fast if they feel you're about to walk. 

Just happened to us. 

Under contract. Found out repairs were what I estimated, but we miscalculated the ARV pretty bad. (it was a rushed offer, unfortunately).

Rather than "negotiate", all we did? We had our realtor drop hints to the seller's realtor: 

3 days before DD deadline: "Oh, they had an estimate come in that was way more than they thought. Not looking good. He's going to get another estimate, don't worry."

2 days before DD deadline: "Hmm, the layout in the kitchen is going to be tough to resell. They may have to knock some walls down. Will keep you posted."

1 Day before DD deadline: SELLER'S AGENT: "Look, my clients don't want to go through this charade again, can we drop the price $20k and call it a deal." 

We didn't even need to negotiate. 

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In the end, we walked anyway as we bought the house sight-unseen and the layout was freakin terrible and unfixable. But, we probably could've got them down $30k. 

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As someone fairly new at REI, I always assumed "as is" was no repairs NOT "you pay and leave it at that." If you insult the seller's by renegotiating...who cares? I feel like 90% of this business is rejection, should be used to it by now :)

NOTE: It was not our intention to renegotiate the price down. We didn't offer them a good deal with plans to renegotiate later as that's unethical. So this isn't a tactic for every deal. We simply opened the front door, saw the layout and went "No, no, no!" This was not pre-planned.

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More reasons for why I believe you can renegotiate AS IS: 

In negotiations right now for another house. "AS IS" purchase. Put in offer with only seeing pictures. Walked through house after they countered. Saw we needed $25k more repairs than I thought due to smaller-than-it-looked kitchen and misleading-picture-size master bath. 

Wrote up a note to sellers listing what it'll cost us to get the house up to the level of the neighborhood. They dropped $15k off their price in 24 hours. (Yes, this wasn't a binding contract, but offer is still 'as is')

@Anthony Morgan

Reach out to Eamonn McElroy here on the forums. He is the best (and my CPA). He answers quickly.

https://emcelroycpa.com/

@Sarah Kennedy Hey Sarah. I'm targeting the same area :)

Done a couple properties but still learning. Happy to share notes as we target these areas!

Congrats, Daniel! We're looking for flips in Cherokee and North Cobb. We're in Woodstock. 

Great to hear stories like this, especially other investors in this area (as most talk about ATL :D). 

Look forward to hearing more stories like this :)

The only misleading part about DR is he talks so much about worrying about budgeting, paying down debt and passive investing for wealth...

Meanwhile, he makes all his money from active investment...i.e. his business teaching this stuff.

It works because his audience is a fixed mindsrt of "Oh, I wasn't born rich and haven't won the lottery, so I need to save save save until I retire and then I will be wealthy."

Most his audience have a fear based, scarce mindset about money and he knows how to skillfully validate their thoughts while making them pay for it.

It's masterful salesmanship.

@Tyrell Myers we are mostly an attorney based state so better to ask attorney for title checks

@Anthony Morgan FYI, you'll find most HML dont care where your down payment comes from as long as it is green.

Banks, you would have to season it for 3 months.

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We are looking for a good LOC as well. Wells Fargo hands out LOC but they only can increase your line in small increments unfortunately.