All Forum Posts by: Millie H.

We have an off-market flip opportunity coming available today or in the next couple of days. We have everything but one signed document back from the seller. This will probably be a wholesale deal for us because we are still getting familiar with the area. 

The property is in great condition and just needs some cosmetic work in the kitchen and bathrooms to bring it up to the higher ARV in the area with high end finishes.

Has anyone else worked in the Peachtree area?

Under Contract: 535k

Purchase Price: 541k (Includes 6k wholesale fee)

ARV: 732k

One of our comps is the neighbor!

Welcome to the site @Jason Sylka

My husband and I have a property located in the Fountain Square area of Indianapolis that we are probably going to wholesale. We are also considering doing the flip on this one and would like to hear from members that have worked in the area. From what we have heard Code Violations have been an issue for other rehabbers. We have also heard the same thing regarding the Bates Hendricks area. 

When I say Code Violations are an issue, I mean rehabbers are being cited on almost a daily basis for just about anything. Can anyone give us some insight on this? Has anybody else ran into this issue?

If anyone is interested, our team will be at the property at 2 PM tomorrow, Feb. 22nd, to walkthrough and get a better idea of repairs needed. 

From what we can see from pictures the property seems to be in good condition. The sellers are an elderly couple that are looking to downsize. There is wall paper everywhere and the kitchen/bathrooms definitely need to be updated. Other than that this property doesn't look to have any "issues."

1234 Fletcher Ave. Indianapolis

Under Contract: 158k

Wholesale Price: 164k (Includes 6k wholesale fee)

ARV: 323k

Hi @Rob Gillespie, @Paul Vincent, @James Wise, @Tom Ott, @Jorge Ruiz, @Andrew A., 

It looks like the assignment on the property will be completed this morning. We have the signed assignment agreement back and are waiting for EMD and the Wholesale Fee to be delivered to title by 4 PM today.

We ended up having 3 buyers interested in moving on it with one that was a little quicker to sign than the others. We always require our buyers to bring funds to title by 4 PM the next business day so I'll let everyone know if for some reason that falls through and the property is available again. 

Hi @Andrew A.,

Yes, we are going to leave both options on the table. Really what we are looking for is to better understand the area. We have worked quite extensively in markets such as Milwaukee, Indianapolis, Detroit, Dallas among other areas. Each market is unique. 

Do you flip in the area?

Hi BP!

My husband and I just acquired a property in Bay Village which is about 30 minutes out of Cleveland, Ohio. This was a probate property that took 40 days to get all of the signed documents back on. This property was listed at $149,500 and we got it under contract at 100k. 

23707 Russell Rd., Bay Village, OH 44140

We are looking at two strategies on this one. The first of which is closing on it and doing the flip. The second is wholesaling the property. Marketing will start today on this one with a 6k wholesale fee. We are thinking a wholesale to get more familiar with the area first will be the best choice (we also have 2 more coming available). 

So my question is, what are the thoughts on the area? There is a property for sale at 165k right down the street that's in decent condition but pre-rehab.

We've pulled comps and have an ARV of $225,519

I appreciate any insight given!

Hi Brandon, 

It noticed you are from Santa Clarita. My husband and I live in Valencia so we are neighbors! 

We invest all over the country with the midwest being a hot spot for us. We flip and wholesale as of now. What strategy are you looking to execute? Conventional loans can be tricky but it's doable. Have you gone through a pre-approval process or what stage are you in? Have you found markets that have been appealing to you?

We are focused on 14 different markets. We have boots on the ground in each and and a team in house to manage the volume. We like our midwest markets (some we have scaled in and some we are just starting in) such as: Indianapolis, Milwaukee, Cleveland, Detroit, Illinois. 

Hi @Kasey Newbold, 

You had mentioned that you were paying all associated closing expenses. This isn't a normal thing for the end buyer to do. If you are getting a really good deal I would say it might be worth it. You should always run your own comps and speak with multiple team members with different perspectives. Make sure you know your numbers. We pull comps in house along with asking the realtor to do the same. Knowing your rehab cost can be just important as your ARV. Working with multiple contractors and doing your due diligence online for average rehab cost for each section of the property that needs work is a good place to start.

My husband and I flip and wholesale among other strategies and have found the wholesaling part of things as a positive way to create a win-win-win situation. We wholesale when we have too much inventory to fit into our portfolio (we have 3 available in Indy now) which fills the needs of the investor that wants to start a new project and doesn't have the inventory. Some people are upset when others make money but that is their cross to bear. One of the most important things we have learned is TIME IS MONEY.  We buy from wholesalers when we are in need of inventory. For example, we may be looking for a rehab project near another that we have going in Bates Hendrix but all we have available is in Noblesville. 

@Federico Gutierrez We found the deal with the help of an agent. The property is a probate sale that we have made multiple offers on. The key with all of our marketing strategies is persistency!

What do you guys do to find properties?