All Forum Posts by: John Rosselli

Thanks to all.  Really appreciate the analysis.  Rejection has always been a struggle for me.  I felt that if it was to be it had to make sense.  The numbers were spot on as far a s rehab for flipping.  I had not considered the possibility of an investor hold and rent situation.  That's probably what happened.  Thanks again for the input!  jr

Recently lost a bid for a house in Katy Tx. Mtg. pay off net = $53K, Est Rehab including holding and closing costs for 3-4 months = $38K, Est ARV based on recent actual comps sold within the same subdivision $120K - $125K at the max. Doing everything except foundation on this one. Home owner purchased another home. He now has 2 mortgages and massive repairs needed to bring old home up to market value. We offered $60K cash, he countered with $65K and a share in the profits if the final sale exceeded $120K. We countered with: Give us exclusive option on the home, we'll rehab it and split the profits whatever the final sales price. Another company came along and offered him $75K cash. I believe we could not have offered any more than what we did. How could the other company offer such a high amount? What could we have done different? We felt the margins were just too small.

Thank you!  That confirmed my understanding.  You all were gracious to reply so rapidly.  Thanks again!

jr

I have been buying, selling, rehabbing & flipping as an LLC in Texas. I plan to incorporate and turn up the heat. Do you have to have a Real Estate License in Texas to Sell Properties or simply have a Real Estate Attorney & Title Co. to ensure all paperwork is complete & compliant? I have always believed that if I own it in Texas I can sell it without a licensed professional being involved. Thanks

I owned my own business Cleaning Carpet and Commercial Offices and Schools for 25 years and always thought I could do much better in Real Estate. Now am retired and have jumped into Real Estate with both feet. Have bought, rehabbed and sold 4 homes. Three I owner financed and one I sold to another investor.  I also purchased and rehabbed a Duplex and hold it as a rental unit.  Am in process of finishing my 5th rehab and look to have it on the market soon.

Am looking to connect with other investors in the Houston and Surrounding areas to share info and network. I am West of Houston (45 miles) in Sealy, TX.