Hey Anderson, nice to meet you! You're certainly correct, this market it pretty awesome, which brings in a lot of competition. I flip here, locally, currently and out of state. The home would be about 6 weeks for my team customarily but the outside is large so 2 extra weeks to be safe. Id definitely allot yourself an extra couple weeks though for your calculations. The house is 3/1, and about 1200 sqft in the living space though, so pretty quick interior wise.
I plan to get it myself if someone doesn't want it. Yes I do indeed have other buyers that fund deals with me (is that what you meant as connections?), but I have money in multiple deals at the moment and want to just make my chunk and get out while my other projects finish and sell. I even have a creative deal signed if I don't flip the contract.
The purchase would be 300 + closing costs. assignment would be 15. I have it contracted at 285. property is 3/1, with a unpermitted toilet in basement. Large basement and attic space, new roof and some of the kitchen is already torn out from the current owner.
one bedroom does have a closet that will need built. plumbing seems fine, maybe a couple angle stops to change. Zoned commercial and residential. working furnace and large fireplace. I plan to do a mini split if I buy it myself. Basically a small full gut with part of the work done already. House is cleaned out and ready for work to be done.
You would be coming onto market at the prime time and its in downtown so hopefully it'd be contracted for the sell within a month, but northern Cali is a slower market sometimes since we're not as densely populated so id say 3 months. I'd anticipate financing wise at least 6 months but would always recommend a 18 month financing term on your loan if your getting one.
