All Forum Posts by: Keith Cox

2100sqft Home for sale. Owner is selling incomplete flip that they have been sitting on for 10ish years and left to travel world. We are in contract but are nervous because it is quite literally our whole wad and we won’t have funds for rehab. Needs a master bath made, flooring throughout, kitchen, paint, doors, yard clean up, some deck fixing, outdoor paint.  Just checking the waters on a wholesale deal.  If you have interest let me know.  Closing soon.

@April Eilers

Nice I was running numbers with my grandma (she owns a couple parks) on you place last week. We decided cash on cash was low for our liking but I think you have a good thing there. The sub dividing is a great idea might take longer to get all parcels sold but I think your ultimate value would be higher.

Ha ha! No it was a way more casual conversation than that. Looks like you have covered your basis and you obviously know way more about it than me.

Are you Argosy by chance?

@April Eilers

Interesting idea. I believe that in Hawthorne the “lots” were drawn in dashed lines and the parcels drawn in solid lines. To subdivide along the “lot” lines previously drawn is apparently an easy thing. Have survey done. Fill out form. Wait a few months. I spoke with Jerry this week about mhp in Hawthorne she is gunning for mhp parks allowing rv’s with out the appropriate bath housing etc. just a heads up.

@Zeke Liston mainly fear holding me back. If my local area continues to grow then the upside is much higher in the small satellite.

I am in Reno Nevada. My wife and I are basically fearful of doing the long distance thing. We both work full time and don’t know if we have the time/energy to pull off a successful long distance. At least until we have been through it before.

Hello. My market is much too hot to cash flow so I have been looking out of state in Ohio, Florida etc. I then realized that I have two markets near by that should meet the 1% rule.

First is 45 min from town with 800 residents and almost completely composed of people commuting in. The other is farther, 1.5 hour out and composed of almost entirely state jail employees. The second is a larger more established town with enough folks to support a Walmart and an ace hardware. The first is more like a small general store and a hair salon kind of town.

Just off of the surface which jumps out as a better market to enter?

My calculus is that in a market dip these satellite locations get absolutely hammered valuation wise and I worry rents would drop below cash flow.

The one industry town is not as subject to price run up from my frothy market so might stay good in a dip... unless of coarse the state shut the jail down or began furloughing workers.

I have decided I don’t yet have the balls or experience to brrrr in a location I can not drive to on the week end so am pretty limited on locations that meet the numbers.

@David Johnson

Hey David. Looking for wholesaler in Loyalton or Susanville. Any interest in looking up there?