All Forum Posts by: Keith W.

@Jonathan Greene

So I used a high national average on all the stuff I need to fix on the property, as opposed to guessing. I wasn't doing a price per square foot rehab. I meant price per square foot when it came to comps, since their aren't many in the area. Yes, their is an oil tank, above ground, and septic needs to be checked. I've been to the property, so I'm aware of what I think it needs, but I'm not contacting anyone to give actual estimates yet because I haven't bought the property yet. I obviously put this question out there, so I'm looking for anyone who can provide guidance. Yes, I have an agent, and she sent some comps, but not a ton like the property I'm looking at. So tell me why I shouldn't be bidding on a HUD home? If I get an inspection done, and do my due diligence, what's the difference in how I buy? Is this a site where EVERYONE has all the experience in the world? No newbie questions allowed? I think I missed something if that's the type of site this is. Apparently, you have all the answers, so please share.

How do I figure out a final sales price, after rehab, in an area with little to no comps? Would I find other ranches in the area and figure it out using price per sq/ft?

I'm trying to use the sales price to figure out my top bidding price on a HUD home. Zero experience with estimating cost of rehab either, so I'm using the top end of the national average. Considering it's more expensive in NJ.

Any help is appreciated.

I’m a newbie, but learning fast. Located in NJ, been looking in Central to South NJ. The properties I’ve checked were auctioned off, quick. How do I find a list of pre-forclosures so I can start looking at more properties. I don’t feel like I am seeing enough to make the offers I need.

That’s awesome. I’m going to flip my first in NJ first, so I can see the entire process in person. With any success, I’ll maybe do a second to gain some capital. Then will definitely be looking down there. Just need this first flip to go well. 

Which areas should AL investors stay away from? I’ve been looking in the Huntsville area, and Anniston, Birmingham both pop up a lot.

@Yonah Weiss

Thanks! I will definitely keep you posted. I’m currently pre-approved for a mortgage, do for now, I’m going that route. Once I get one under my belt, I’ll probably need to have more options.

@Shiloh Lundahl

NJ to start, and I’m torn between a flip and rental. I’m waiting on financing to get back to me to discuss options n how much.

@Shiloh Lundahl

You are correct in assuming my experience level, and I do have as much capital than I’d ask for. It was a very broad question because I have no idea how it works. Specifically, I have a few family members that I’d ask if they wanted to do a small investment to cover some of the costs, but definitely not the entire thing. I just don’t know what return would make it worth their while, n I don’t want to “borrow” from family. I was looking at a conventional mortgage or hard money loan for major financing. Again, I’m text book noob, so this is all very early stages for me.

@Tyler Mcnee

Very cool. Definitely some opportunities down here. Are you working with an agent yet?

@Tyler Mcnee

Similar, just a bit further south, like Howell, Freehold, Brick, etc. So much to learn!