All Forum Posts by: Kellum Lewis

I just got a 3/2 fixer under contract in Phenix City, AL (near Columbus, Georgia) and I'm having difficulty finding comps in the area. I live in Los Angeles/Pasadena, CA, which makes it harder. I spoke with a realtor in Phenix City who said there have been no sales in the subdivision in recent years. Going farther out, several properties were sold within the last year but their prices range dramatically from $20K to $120K, all for homes similar to the subject property. Any advice from people in the area about how to determine the ARV? Thanks in advance!

Welcome @Rita Blinchik! Pasadena and the surrounding areas are great to invest in -- IF you have the capital to get started. Let me know if I can help in any way.

Hi Sebastian. I can't make it this Sunday but please add me to your list and keep me posted for the next meeting. I'd love to get acquainted.

@ Rob Young I agree with the other posters above. I recently sent out 100 yellow letters through yellowletterscomplete.com. I received four replies. Three were from people saying they weren't interested, one from an absentee owner who was thinking of selling. Of the three who said they were not interested in selling, I was able to have conversations with two who, by the end of the call, were interested in having me shop for other properties for them. What I like about the company I used is that they black out the list I purchased from them so that they don't mail to those on "my" list from any other investor using their service for a period of time (something like 3-6 months). Hope this helps. Good luck!

Hi Tami. All these terms can be confusing. The Assignment of Contract is also a contract, one that assigns all the rights and obligations you received/took responsibility for under the original contract to your end buyer. Just make sure to run everything through your escrow or title company or lawyer if you're working with one to make sure all necessary documents get completed. Good luck!

Hi Greg. If you can find an experienced contractor whose work you trust who'll go in with you, it's a great way to get started. However, most experienced contractors will likely be hesitant to enter into a split like this with someone who's just getting started. It's more likely that they will want to be hired and have a contract so they'll know what they're getting paid. I also warn against going into business with family and friends as the work will definitely put a strain on the relationship. However, I know when you're first getting started, you're trying any way you can to get going and sometimes you have to take risks. If you do decide to work with your friend, I'd suggest putting everything in writing and have an agreement that you're going to put any changes along the way in writing so you both have a concrete reference point. That can help decrease confusion and misunderstanding. Hope this helps. Good luck!

Welcome Joscelyn! I'm an investor in SoCal as well, wholesaling and rehabs. Let me know if I might be of any help.

Hi Brian and welcome! Congrats on your first flip. I'm an investor in Pasadena as well. I look forward to hearing how things go for you. Let me know if I might be of any help.

Looks great, Junior, congrats! When's the open house and how much are you asking?

Mike J. Welcome Mike! I'm in the LA area myself and mainly interested in fix and flips. If I can ever be of help, please let me know.