All Forum Posts by: Joe Conklin

I'm looking at a few listings that look to be solid deals for buy and hold that other people are flipping (over 10% cash on cash return).  Does anybody have any experience purchasing other people flips?

Okay, thanks for the feedback.  I should have listed A+ properties as 8-12% as it is more realistic.  I feel better about going turnkey now, however I want to develop the skill that comes along with rehabbing on a future deal.

thanks for the feedback, that clears things up

What do you choose?

A+ rentals - Homes that achieve a solid 10-15% cash on cash return that need little to no work to rent out.

BRRRR - Properties that need a rehab to rent. Ability to have a better deal but requires more time and effort.

Does this decision differ from those who invest full time to those who don't? Has anyone made the strategy transition between A+ rentals to BRRRR or vise versa?

1. Can agents submit bids for themselves to purchase REO homes such as HomePath and HUD? I believe that I heard that if you are registered to place bids on these sites you can't buy them yourself.

2. I was listening to Mark Fergueson's podcast about specializing in REO and short sales. How does an agent go about start to make this their niche?*

thanks for the support, I'm going to go for it.

So I currently hold a full time job and am debating pursuing a RE license. I believe that having a license will allow me to act quicker on deals within my market. Also, showing myself houses will be a huge benefit without having to use an agent to fit their schedule. This will also benefit when having GC's and contractors give rehab estimates. Personally I am very analytical and like having a lot of information at my fingertips and feel that access to MLS comps will be very beneficial.

A couple of questions:

1.  Does anyone have experience having a license while holding a full time job?

2. Is there any consensus on what is the best type of broker for part-time agents?  I do not plan on doing many deals as I am holding the license for my own deals.

Any advice would be appreciated, thanks

@Brent Paul thanks for the advice.  I will look into ordering J scotts books

When I am looking at a beat up house that needs a total renovation, what constitutes "good bones"?  Is there anything specifically that I should look for being in tact?

Also, what is the best way to estimate rehab costs? Bring a GC to the home?  Are there any rules of thumb when estimating rehab costs?

yes the ARV is 120K, so 100K would be too high in that respect. How much to factor in for CapEx?