All Forum Posts by: Juan Zamora

Interesting information.. so the rents are based typical long term leases? Or do they calculate STR avg rates or revenue to qualify?

Hi everyone, I'm looking to jump into the STR game since the market has been crazy. I feel the time is good since theirs fear and people are hesitant because of rates not dropping, thus giving me a opportunity to make this move.

I have a few locations in mind I've been doing my research for STR and running possible numbers but now I need to know what loans are out there? What's the best option with low DP then the traditional 20%..

lastly of you have a awesome lender who is creative and can make it happen, please share contact Info. 

thanks 

From the looks of the home there are no pain points. Home was done very well. 

Here’s at address. 

24926 Avenida sombra, Murrieta ca 92563

I want to see what would a like minded flipper / investor would do in this scenario since home is close to 100 days, they purchased home at night of price of market. How much less would they take, or just to get rid of and get off the books? Would you stick to your guns and not fold with price ? Would this deal even make sense with the change of times pulling towards the buyers market? Lastly I looked at recently sold and homes similar sold for 550K or below…..
if I wanted to scoop up, what price would be a fair market offer ? 
Thank you for your insight. I want to understand the thought process clearly 

Hey guys, I'm trying to understand the mind set of the "flipper" and how this could be a opportunity to buy if they are willing to discount. Here's the general info I have gathered from MLS, and local tax information.

Home is listed for 600k,

3bd, 2ba, 1640 sqft

Home built in late 80s.

This home was done by a flipper, and they bought it at the height of market price at 500k in July . Not sure how much money they put in but looks like flooring, cabinets and painting.. they had this listed at 650K in September. It’s been sitting on the market close to 100 days now and they only have dropped about 7% in price or about 50k.

If your looking to buy this one and done home, in this market and where time is money for flippers, what type of offer do you think you can make on this?

Would one make a low ball offer? Or why would they not price drop to be competitive in the area where the size of the home medium prices are around 550k.

any good insight would be great to hear. And I know this is a place we’re we have flippers and investors so, this is a cut throat business we are all in and some make it and some don’t, some eat each other up and others win..

thanks

Hey guys, I'm trying to understand the mind set of the "flipper" and how this could be a opportunity to buy if they are willing to discount. Here's the general info I have gathered from MLS, and local tax information.

Home is listed for 600k, 

3bd, 2ba, 1640 sqft 

Home built in late 80s. 

This home was done by a flipper, and they bought it at the height of market price at 500k in July . Not sure how much money they put in but looks like flooring, cabinets and painting.. they had this listed at 650K in September. It’s been sitting on the market close to 100 days now and they only have dropped about 7% in price or about 50k. 

If your looking to buy this one and done home, in this market and where time is money for flippers, what type of offer do you think you can make on this? 

Would one make a low ball offer? Or why would they not price drop to be competitive in the area where the size of the home medium prices are around 550k.

any good insight would be great to hear. And I know this is a place we’re we have flippers and investors so, this is a cut throat business we are all in and some make it and some don’t, some eat each other up and others win.. 

thanks 

 I think the problem is that when I do talk about below asking, my realtor wants the reasoning. I don't think she's comfortable but she's done it but not sure she's broken it down to the listing agent.  So check my logic:

I look at the home value of the home in 2019, then I give it a good generous appreciation of 6% a year on a healthy normal market value of growth for the 3 years. So then I see when it's listing price is and I want to get to the closest to that number if possible. What I'm trying to do is not get a home that will devalue if the economy goes to a recession in 2023, and based on all the data it's very very likely. So I figured to submit a offer close or max maybe 25% below listing price. 

is this a flaw way of thinking? Is there another way to look for value in today's crazy landscape?

Ok, here’s another topic I’m interested in, has anyone been successful with submitting low offers on opendoor properties given all the bad news about this company and in high risk of bankruptcy. Would today be a goo time to send in offers or will they stick to their numbers given the company has been trying to offload debt?

 Thanks, I feel better about it. It was a bit shocking that my realtor told me they were insulted, instead of just telling me they said no. But yeah, my realtor was super hesitant about submitting my offer but obviously she did it because we'll, she works for me in that sense. But my logic in the offer I broke it down to my realtor. I'm not sure she gave that same insight to the seller's agent to not only present my offer but explain in a sense. But it's ok it's still active and I know it's going to sit there. I'll keep my eye out. 

I recently made a offer to a home that needed a little more then TLC. Besides painting, property needed whole new flooring, updated appliances, some cabinets repair, AC unit is on its last leg, water heater almost 15 years old, and whole lot of cosmetics like windows, old plumbing and the yard front and back completely neglected. I submitted a 25% offer off the listing price. My realtor told me the following Monday that they responded with “Seller was insulted by the offering and will not be countering”. 
can I get some advice on what is a low offer? Is 25% too low? Is 15%? 

Thanks