All Forum Posts by: Account Closed

Sheldon, Some websites like Zillow will show sale dates and the prices certain homes have sold for. Also, if you have a certain property in mind, you should be able to look up the sale records via the county assessor's website. Just as if you were going to look up a properties taxes. Hope that helps, I'm sure some more RE vets have some better tools as well. John

@Ammon Brimhall thank you for the advice. I'm sure it's all routine for the experience investor and as a greenhorn, I really appreciate the advice and guidance, as simple as it may seem. It's all valuable to me. 

@Rick Stein I have got to agree with you. As a newcomer, I really scored in my first deal; so I am trying to deal with this anxiousness to dive in once again. I will be waiting for a more stable, market friendly deal down the line. Thank you. 

@Jack Butala again, thank you for the advice. I believe settling in a niche will help me get over the quick trigger finger. That's why I have come here first to get some true broad spectrum advice. Thanks for your words.

@Ammon Brimhall thanks for your advice, I'm no special case in that I'm new to the field with such a vast amount of information out there it can get cloudy, so your words do help reinforce my feeling. 

I agree flipping isn't the best, even though I believe I could do the majority of the realtor services myself. If I were to refurb and hold it as a rental, is there a baseline ROI figure that some use to gauge whether or not it's worth the time and resources?

@Account Closed thank you for baring it all with this topic, I'm in a similar situation. I myself am really looking to explore the opportunities with getting investor help and partners. But, I see that bottom line that the corporate job may be a blessing until we get traction in the RE realm. 

Easy market in small town; scarce rental opportunities available with a healthy demand. 

I am interested in acquiring my first property, but it has some variables that are not ideal:

1 BR/1 Bath and not expandable, needs full kitchen refurb, new roof, minor interior work (paint and floor covering)

My main concern is the 1 Bed aspect as that puts me in a small niche of buyers. I am able to do most all of the refurb myself minus the roofing install. But my total reno cost are still around $10k. 

For the good: It's listing at $35k, huge lot and growing community and school system. Taxes are little to nothing and the home is close enough where I can do all the property maintenance myself. I could fill the unit at $600/mo very easily, possible get more if I waited a few months. 

There's the basics, here's my question if you will. After the purchase and reno, I will be in around $47-50k. But in this market, the home will have a value of $55k-60 at best. So, in order to recoop my investment, which avenue would you go down, either reno and hold or flip?