All Forum Posts by: Mark Webb

Bob I have had a issue with floating floors being placed under the cabinets before, if they get wet by any means it going to cause a lot of future problems. so its better in my option to cut around the cabinets especially considering there are water lines in the sink cabinet, so exposure to water at some point is likely. although if it is tile I always place it beneath cabinets and vanities so for the simplicity of changing them out should a tenants destroy them or the dog eats the cabinet/vanity which actually recently happen, the only issue your going run into when you cut around the cabinets is if you need to replace it for any reason the cabinets are never the exact some size so thats why I prefer to use tile in any areas that would have cabinetry. hope this hopes and best of luck!

Foundation and construction are wood

Year Built: 1950

Purchase: $21,500

Closing Costs: $5,000+/- (purchase and sale)

Rehab: $30,000-$40,000(if there are unseen issues)

ARV: $80,000-$90,000

Potential Profit: $13,500-$33,500 (worst-best case)

Link to all photos: https://photos.app.goo.gl/QTucKc0ZslOkgBVl1

@Aaron Jones one thing I've found useful is to use the Trulias crime map along with taking a virtual tour using google maps street view. using both will usually give you a great idea if its a area you would want to invest in. best of luck on your search!

@Michael Plaks @Ashish Acharya great content guys thanks!

Michael can you PM me a link to your blog post?

@Scott Smith could I have a Texas series LLC take ownership of a Florida LLC that has Florida property in it and provide the same protection or would have to have the property transferred in a Texas series LLC ?

@Camellia B. hey I see these work shops come through orlando and Florida monthly and i know a lot of people who have wasted valuable time and money attending.just be aware that once you go to the 3 day work shop its going to be a 3 day infomercial to get you and that FREE friend that came along to the next one or sell you something. its easy for you to buy something when you have a friend or someone sitting next to you that has the same hype and excitement that telling you its a good idea because they saw what you saw at the event.

there is truly nothing you will learn that you won't learn just be being here in the forms or by listening to the BP podcast either here or on youtube. i was seeking a mentor or guidance a little over a year ago and I was surprise to find out that Josh and Brandon's podcast was it then once I got involved here in the forms as well my education in real estate has taken off. people here really want you to be successful and I'm shocked at what people have shared about making mistakes that I will now never make because they explained the why and what of them. best advice save that money for a downpayment or for marketing to find your next or first deal! hope this helps.

mark

thanks for taking the time to share your success, its detailed posts like these that keep me motived to go out and do more! 

also congratulations on your purchases and best to you and your investments! 

@Ethen Weaver

I only saw your post reply because I have keyword alert set up for Florida, use @ to mention someone so the receive notice for a reply! 

the most interesting one I recently went to was a smart home expo which had all the latest things coming to retail markets in the next ten years. it was amazing and GE has a smart Island for your kitchen that is just out of this world. its something you would see in the Jetsons cartoon.In my area there is something going on every other week. Sometimes its local sometimes national

@David Flores in my opinion if your goal is to sell any property at 50% of market value just work backwards from there on how much you would like to make. 

in your example of this property lets say you wanted to make $5,000. that property would have to retail at $34,000 in order for you to sell it at 50%($17,000) pay the $10,000 in liens and pay the owner $2,000

I think everyone is going to be different on what they think their time is worth so if your happy putting up $12,000 for liens and purchase to make $3,000(25%ROI) because the market value is $30,000 then do it

at the end of the day you have hungry new investors willing to make a $1,000 and get some education then you have pros that won't do a deal for less than $10,000. you just have to decide what your willing to accept both in monetary and education because both are currencies in the investing world

@Brandy Horkey I second what you've said, I know in Florida that the county appraised value is strictly for tax purposes and not what the actually market value for a property is. I have market values and county values be $100,000 off on a $250,000 house.

 I would revisit that property if it still available by contacting a land agent and have them give you a option of what would be market value. 

@jason Make sure you get at least three quotes for everything! 

my personal rule of thumb: 

$0-$1,000   1 or 2 estimates  

$1,000-$10,000    3 estimates min.

$10,000 +    5 estimates if possible with full break down of services 

Unfortunately I don't know of any contractors down there just wants to say Congratulations on your purchase!!!