All Forum Posts by: Jordan Pothier

@Derrek H. I forgot to mention, both tenants are in, paid and working now as well.

@Derrek H. Sorry I didn't update the thread, I ended up backing out because I got multiple foundation Quotes ranging from 9000 all the way to close to 30,000. I was not willing to buy somebody else's issue so I kept searching and ended up closing on a place near that place and purchased it with 15,000 in equity. I got it under contract for 110 K it appraised at 125, the higher comps in the area are 180 to 190 K,It is in the Reno stage right now and I plan on BRRRR'ing it (The lender is just waiting for the seasoning period) and so far the pandemic hasn't caused any hiccups, in fact it has been a breath of fresh air as inventory is low in the market that I am trying to invest in and buyers are scarce.

@Charles Danforth look up @Nathan Brooks and his company Bridgeturnkey.com this guy, from what I hear, provides a great product and has been on the podcast more than anybody else. He has a lot of great info in the podcasts he’s been on and the couple times I have spoke with him he has given me great info on what I was working on.

@Caleb Heimsoth that’s great feedback I appreciate it, I was thinking 20% plus repairs and my wife thought 10% plus repairs before we even brought it to BP. I’m not sure how this is going to work with it being a probate sale plus they’re saying sold as is but I’m willing to walk away if it just doesn’t make any sense, and as of right now it’s not really making much sense. I was off with the initial offer in the first place as I did not know about comp ranges, thanks again, I’ll post an update soon.

@Caleb Heimsoth what do you mean when you mentioned range it too large in #1? The plan is to brrrr it, wouldn't I want the comps to be higher? The home is being sold at 148k and if I were to request 10% off plus the quote I received from a foundation company ($9,416.00) would put me at $123,784.00 do you think the virus would drop the value more than that? I know there's really no telling at this point but from all the research and people I have been talking to seriously doubt that there will be another crash. And I apologize if I came off rude in the previous message.

@Caleb Heimsoth I appreciate all feedback in this feed but I am more interested in your comment if it is backed up by facts. Please give me both opinions and facts why you would say that, this is one of the bigger purchases in my career as an investor, besides the purchase on my primary residence obviously, but I will definitely take it in consideration what you have to say due to the fact that you’re the first person to say what you said.

If it is just strictly opinion then I’m not really interested, looking forward to hear from you.

@Whitney Hutten in addition to that, I understand that inventory is extremely low, I have put about 10 contracts on properties and they all had pending offers either that day or the next, that’s also one of my concerns with pulling out

@Whitney Hutten it’s in Liberty mo to be exact, and the foundation quote came back at $9642.00. My major concern is where the economy will be after this potential recession and it’s already at the top of my price point given everything I will be doing to it with updates. This house was built in 58 and not much has been updated since, it’s 1600 sqft of finished spaced plus an additional 1600 sqft of basement.

@John Teachout Kansas City

Thanks for the feedback, I appreciate that!

@Andrew Syrios