All Forum Posts by: Michael Serrato

@John Sledge

Thanks for your inputs on comparable sales. I will contact you soon. In the case of renovation, some market areas do not need a completed renovation for ARV, but renovated enough?

@Alex Jones

A more detail questions of a flip do help me to see different angles. Thanks. I would like to learn more how of these example situations would come across in Austin, TX or anywhere and know that with right tools, and a team do HELP better despite engaging an unknown territory, but at same time confident upon learning what Austin could offer for. 

@Bryan Noth. Thanks for clarifying the price on sold homes.  Awesome that you have two businesses to manage a portfolio to pass up with each contributing one another in time of any adversity, solidifying those strategies. I am also interested in buy & hold to seek a long-term goal.  

@Jacob Pereira

Thanks for the words of encouragement on my journey. Learning much insightful information like a sponge. Interesting about the trends you see and experience here in Austin, TX on fixing SFR. What I mean about having a contractor team, I have a list in hand and will have to work with GC to get ballpark estimates on rehab when I find a good deal. I am learning that kind of skillset; I have some time, and not in rush to do it just because Austin is hot and for other reasons. I appreciate the due diligence you could offer, and I will connect with you soon. :)

@Bryan Noth

Thanks for sharng valuable statistics and news on the rise of home prices. Right now I am keen to calculate what is a good deal and what is to buy right by looking at different avenues. To clearly understand you, "a majority of sales had accepted contracts 2-5 weeks prior"- you are talking about those buyers who reached out early and through off-market sales?  

@ Bruce Lynn

Thanks for sharing your perspectives. I heard Austin is a very competitive market as it is booming. This makes me feel its GUT feeling to do it with the right resoruces.  Learn something new about getting 70% of the value of the property (heavy marketing/negotiations). Then with enthusiasm and efforts to rehab the property with a minimum budget and time is a goal depending on the size of work, etc.  I have a list of contractors and subcontractors. Just that on the good side of flipping, as you mentioned, there would be lots of buyers in the market.  The confidence in that is good to me. 

Have you thoughts about searching for small companies that may hire you for an internship or mentoring program to get your feet wet?  It may not include a salary but could lead to new doors that may able to finance your properties or perhaps working on their properties once fitted.

Hello Fellow Central Texans and BP Community,

I am relatively new in learning the niche of flipping. I have read several BP books to attain knowledge and education foundation of real estate. Likewise, I just moved to Austin, Texas and I am excited to bark on the journey to seek, listen, and talk with locals. My questions, I am wondering if any one of you experiences flipping on SFR as newbies starting with medium-size capital and how does that work for you? Do tools such as flipping formulas and ARV work once the flip fixed and sell?

Thanks! Looking forward to hearing insightful messages from you.

@Dmitriy Fomichenko.  Yes, I do but I do not know the area very well as every state is different. Thanks for directing this post to an appropriate setting! 

Hello Fellow Central Texans and BP Community,

I am relatively new in learning the niche of flipping. I have read several BP books to attain knowledge and education foundation of real estate. Likewise, I just moved to Austin, Texas and I am excited to bark on the journey to seek, listen, and talk with locals. My questions, I am wondering if any one of you experiences flipping on SFH as newbies starting with medium-size capital and how does that work for you? Do tools such as flipping formulas and ARV work once the flip fixed and sell?

Thanks!  Looking forward to hearing insightful messages from you.