All Forum Posts by: Kanwar Sodhi

First of all, $100K buy in and $20K in repairs with an ARV of $140K is a bad flip.

Fees in selling the place and buying through title company will diminish all profits

This COULD be a good rental perhaps, but you'll need to be able to refinance out of the HML/PML

In a contract, if it already states they won't do any repairs, then you'll have to buy AS-IS. 

Very less likely will they bend the rules since they're so many buyers out there

Yes, you can use conventional financing. Just let them know it's an investment if you're not living there and you should be good to go UNLESS it's a distressed property in which major lenders won't work the deal because of the appraisal

Back in the day on my initial flip, contractor delayed the flip, barely answered the phone, cost my tons of money in holding costs and what allowed this to happen was me having a BAD, generic contract

Investment Info:

Single-family residence wholesale investment in Silver Spring.

Purchase price: $290,000
Cash invested: $120,000

Helped a client find this flip; it's more of a bump out
We got it for $290,000 including all fees, will add $120,000 of value by renovating and bumping up from a rambler to a 2 story home. New value based on comps -> Minimum $610,000

What made you interested in investing in this type of deal?

I invested my time in helping him find this

How did you find this deal and how did you negotiate it?

Researched neighborhoods

How did you finance this deal?

Cash

How did you add value to the deal?

Bump up

What was the outcome?

Working on it now

@Rachel Jefferson

PG County!

What areas do you invest in?

@Nathan Killebrew

Own The Dash

@Bukka Levy

The hate because some feel you NEED to be the one flipping it and getting that equity. Won’t matter as much in 30 years. Do you 👍🏻

Hey @Joel Owens, How are you getting leads on BP? Are they coming to you or do you go to them?

If your parents are supporting you or if you have another job while you do RE, do it.

It takes time to build your network