All Forum Posts by: Kerry Smith

@Bill Gulley had to step in, nor does it mean Ben should run out and execute said investment strategy without consulting a real estate attorney. 

It's me trying to help another member who posted a question on the forums - that's it. 

People Strategy 

@Karen Margrave - Brings up a lot of great ideas in regard to the cabinets. 

I think @Matt Taschner is on track. He is looking for answers on "how" to handle a situation like this with his partner, more-so than "what" to put in the house.

I think that's a good idea @Elizabeth Colegrove ! 

What is everyone else's take on this deal?

I agree with @Luke Hagenbach - Email them and ask!

@George Pappas - @Rob L. has given you some sound advice. May I also suggest:

Zilpy.com and Rent-o-meter

I think between using Rob's method, and consulting the websites you should have a pretty accurate picture of expected rents.

All the best!

@Ben G. it will be worth it, the podcast opened up my eyes to a lot of deals I would not have previously considered. Grant is a smart guy!

Let us know how your deal turns out Ben!

@Chris C. an owner will to Sub-To a flip for $480 a month, what is not to like about that! 

Have you walked through the property yourself? $20-25k in rehab on a 35+ year old house seems low. How is the roof? HVAC? Flooring? If those are in good shape, or have been replaced recently those numbers may work. 

Have you considered a Sub-To from Seller, then sell to another Buyer with a Wrap? You carry the note? Listen to Podcast #70 with Grant Kemp if you haven't yet!

@Ben G. - Listening to podcast #70 would be a good place to start. Grant Kemp does a good job of articulating the details of Sub-To and Wraps. Grab a notepad and jot down some notes, and play with the numbers of your property as you are listening to the podcast.

@Matt Taschner what do you want your flipping business to be known for - leaving 21 year old golden oak cabinets in your flips, or bringing the cabinets in-line with market standards?

Remember, your product is the house you are selling, but your business should be making your customers happy. I think that if you consider what your CUSTOMER is looking for, the answer is easy. 

What an unfortunate situation for the Seller...

@Dawn Anastasi  has brought up some valid questions. It seems too tight to hold as a rental, and as you mentioned there is not enough meat on the bone for a flip. 

Have you listened to Podcast #70 with Grant Kemp?

I think a Sub-To from the Seller, and then you carry the note via a Wrap to another Buyer is a good option.

Let us know how it goes!