All Forum Posts by: Johnathan Butler

Hello BP,

My family and I are moving to Fayetteville NC in a few days. In an effort to identify and purchase a home ASAP, I’m looking to connect with real estate agents/realtors who are also investors. Thank you.

Respectfully,

John

Hello BP,

My family and I are moving to Fayetteville NC in a few days. In an effort to identify and purchase a home ASAP, I’m looking to connect with real estate agents/realtors who are also investors. Thank you.

Respectfully,

John

Thank you @Roberto Lobrace for your reply. Our property is in north Point Breeze near Morris and 21st. The comps I've seen are listed for 160k. Does that change your estimation any?

@Troy S. Thank you for your reply. The basement is unfinished, the facade is good, and I can't vouch for the water and sewer. The comps for my property are 160k as we are in north Point Breeze...further away for South Street.

Hello BP, 

This question is for my experienced flippers; especially if you have experience in the Point Breeze neighborhood of Philly. I'd like to get an estimate for a total rehab of a 900 sf row home....new roof, elec, plumbing, floors, drywall, kitchen, etc. Just assume I am working with a brick shell and am putting midgrade finishes in the home. Can someone provide me a round about number? Thank you and God bless.

-John

Great job Brendan!

Hello Trevon,

Inbox me. I would love to help in any capacity that I can. Thank you and God bless.

-John

Good Evening BP Nation,

I have a potential opportunity to put together a deal but am not exactly sure how to proceed.

Situation: My mother-in-law owns a house in the Point Breeze neighborhood in Philadelphia. There is no mortgage on the property and she will literally give it to my wife and I to do what we want with it. However, she hasn't lived in the house in 10 years and it is probably just a shell at this point (we are getting someone to go and take pictures of the property this weekend since we live out of state). I've checked the county records and know that she owes 6K in back taxes. There are probably gas and water liens to go along with the property liens. The ARV for that area is 75K and it could rent for 1K a month.

I would like to either 1) wholesale the property 2) flip it or 3) rent the property (my least preferred exit strategy). My primary objective would be to control the property (FSBO?) without paying money out of pocket and sell to another investor who can then flip it or do a buy and hold. However, if I can make considerably more money by flipping it myself then I would do so. If I did decide to flip it, how could I do so and avoid paying all of the taxes and liens on the front end? If you were me, what kind of deal would you put together? I look forward to your feedback. Thank you and God bless.

John

@Simon Campbell thank you for your reply. Those are my thoughts exactly. God bless.

- John

@Mark Forest thank you for your reply. I'm not sure what the plumbing and electrical look like. I ran the numbers based on what I could see and information that I could garner from the internet. Of course, this is an initial analysis and I wouldn't dare move forward without seeing the property myself and, depending on how that went, getting a home inspection. Thank you and God bless.

- John