All Forum Posts by: Naeem Kapasi

Also, how long time does it typically take to remove the termites?

Hey guys,

I am looking at buying a foreclosure to fix and flip. The house I am offering on definitely needs repair. Now, I am no expert on this, but thought of asking BP nation of your thoughts. Is this an indication of termites behind the bath tub? Thanks for any answers!

It is interesting how you are working with a wholesaler to send out letters @Chris Nowlin!

How exactly is this set up? Are you paying for the marketing, the wholesaler works the leads, how is the split on the profits?

@Jerryll Noorden I've been thinking about getting a website for some time now, but wasn't sure how to go about it. Please send over your tips my way brother. Highly appreciated!

That's awesome!

@David J. can probably help you out with that!

If I owned your properties today, I would probably hand them over to a property manager and manage the property manager. But to me, it sounds like you are tired of managing, whether it is people or properties.

So for you, I would consider to sell the properties, and invest the money with a syndicator. That way, your money is still working for you, but you are hands-off from the "work" aspect of investing. Well, you'd have to do your due diligence on the syndicator though :)

Welcome to BP @Jerika Hackett! Make sure to read the Ultimate Beginners Guide to Real Estate Investing here at BP. It will give you the overview you need to decide exactly how you want to invest in real estate. Good Luck!

@Matthew Gullo Do you have a page on meetup.com? I won't be able to attend this month, but would like to attend next month!

@Jordan Petty, awesome that you want to wholesale. I flip properties :) I don't know about others, but some of the things that I look for is that the area should have good schools, low crime (C & B neighborhoods work very well). I like the houses to be a decent size, not to big (the bigger the property, the more money into the rehab), anything below 2000 sq ft. I know a lot of rehabbers buy flooded homes, I prefer not to, but since it is hard to find deals that are not flooded AND makes sense number wise, I am looking into homes that flooded a little bit.

Now, with that being said, you will find flippers who flip in all price levels. I am looking at ARV around $170k. But there are people who do luxury flips, and people who flip houses that are even below my price point. But I would say that in order to hit most investors, you would be safe to find a house with ARV of $200k and below. Make sure the numbers are on point though. Too many wholesalers get a bad reputation because the numbers they estimate for repairs and ARV are very far from what is really needed.

I hope that helps!