All Forum Posts by: Juan Mora

I walked the property this evening.

The ADU was a garage conversion. One bathroom that is not permitted.

Rentals for the main house currently $3200

The garage ADU is currently rented for $1200

quick. Walk thru I saw the following items

-new roof

-panel upgrade

-kitchen remodel

-no AC. Heat only.
-limited parking

we’re going to offer $718k to see what they say. Wish me luck

I think the pricing is out of this world. 

I bought a townhouse in Carlsbad in 2005 for $500k. It is now going for $920k and renting for $4300 

this place sold for $180k in 2011 so I don’t see how it jumped to $775k in 12 years.  Insane. Not even my Carlsbad place quadrupled in price. 

My goal is to have my brother rent rhr smaller space and rent the bigger space for $2600-2800. 

Hoping ti get some equity in 5-10 year. 

What is you all’s opinion of this “duplex”. 

Two homes. One 3/2 and one 1/1. 

My plan is to have my bother live in the smaller one and fix up and rent the bigger home. 

I personally think the price is more in the $640-660 range. 

No we did not get it. 

We offered $620k cash and someone else beat us by $25k and no contingencies. 

It’s brutal out here. 

I want to get on a list to receive wholesale properties  

I have no interest in becoming a wholesaler myself  I have a construction team in Yuma ready to go for a flip  

Nice job.  so it took 6 months to complete the renovation project? what ended up costing at the end? 

I am looking to get into a wholesale list for both Yuma, Arizona and Imperial Valley, CA.  How do I go about getting into these lists?

What do you guys think? this woudl be my first flip.

I have been researching for a flip property all year and finally stumbled into this one.  Listing Price: 130,000 Offer submitted $90,000 CASH.  Single family residnece, bad shape, Yuma, AZ.  We are waiting to hear back from seller. 

$208,000 - ARV

$100,000 - Purchase Price

$4,200 - selling consessions 1-2%

$12,200 - Agent selling fees 6%

$35,000 - rehab

$2000 - Carrying costs for 3 months

GROSS PROFIT OF $50,000 APPROXIMATELY

https://www.biggerpockets.com/analysis/flips/5e6486bf-f2f7-4...

It looks like you got your numbers right.  Thats what I would have used.

I am currently eyeing a property in Yuma with very similar numbers.  

did you go with a hard money loan for that 25% down?