All Forum Posts by: Michael Lyndon

Thanks for the advice James. Is there a set amount of DOM that flippers consider quick for a sale or is it dependent on market?

Hey Guys,

A smart investor would not attempt to calculate profit on a property based on appreciation, but taking that into account, broadly speaking, would it be a better move to invest in a market which has seen a large drop in prices such as florida/california, would a more linear real estate sale history of some of the more northern states in the US which have only seen small gain/losses be better? Or would there be no difference at all? Assuming a fix/flip investment strategy. I would think people less adverse to risk might gravitate towards a more linear market. Then again, in the short time it can take to flip a house,relatively speaking, appreciation could be negligible in either market.

Hey Guys,

I'm Looking to find some awesome contractors in Raleigh, post your recommendations here please! :) Cheers!

Xing: sweet thanks for clarifying that. Thanks everyone who has added their input into this thread actually, having people to talk to who have experience really helps me out. It's true, never be the smartest person in the room, or forum as it is!

Nvm i guess it is 3.75 sales tax

Oh one more question... Does anyone here familiar with NC tax law know how a real estate property is taxed on sale?

Looks like comps 70,000 - 80000 are selling for about 10k less than their list price so if i have lawyer put in a backup offer for about 8k less caSh deal and fast close maybe that will help

I'll add, I am an international investor, not in the US so I will need to have someone do the inspection for me. I def wouldn't feel comfortable buying sight unseen. I am going to try and do this long distance.

Thank you for the advice as well Xing, but why are you suggesting to talk directly to the listing agent? That is the opposite advice suggested by J and just would like to get your take on it. I just received a list of comps and the agent was very responsive. I have a good idea of what I could sell the place at once it is renovated.

Yeah J, I hear you!