All Forum Posts by: Mike Abel

Excellent! Do you raise capital from with international investors? Is the process any different?

Hi,

I am interested in getting into my first fix and flip in the Sacramento area. Looking for any recommendations on a good general contractor. Thanks.

Mike

Thanks for the comments!

@Brian- not sure what the land value is, the county has it valued at ~$100k.

@ Scott- My quick thoughts were to either wholesale it our partner on it, but not sure this is really a deal after seeing the property.

@ David- The property lot size is ~14000sqft. The problem I see with developing it is that it's in a rough part of town with several other run down and dilapidated properties near by.

I received a call from a motivated seller and went to see the property today. It is a multi-family built between the 1920s-1940s. It has remained as a generations passed down property so little to no public information available. They own the property free and clear, but the condition of property is very bad and practically needs to be demolished. There is a main building with 5-6 bedrooms. Another building that is a studio, and 1-2 other buildings. There is so much stuff in all the buildings it's very difficult to move around and identify all rooms/bathrooms. All the buildings are literally packed with boxes, some furniture, and lots and lots of junk. I am having a tough time determining an ARV. Looking for advice on if there could be a deal and how to structure or if maybe better to refer to someone else and collect a finders fee or refer it to a company that does an estate sale.

Also, the Seller is asking for moving expense only and they owe ~$70k in back taxes.