All Forum Posts by: Peter K.

Hey Ryan. 

Just left you a voicemail.  Give me a shout anytime.  Id like to pick up 2 more deals asap.  

Wow.  Im not sure what else to say. 

Sometimes educated and smart are not the same thing. 

Good luck on the repair costs. I hope it works out without being too painful

Thanks @Account Closed   Something is not adding up.  It seems like either your loan broker made a mistake when qualifying you in the past and is now trying to backpedal, or they are not giving you the complete story.   Its hard to say with out seeing the loan package. 

Im happy to give you an opinion and quote if you can share the loan package.  

Hello @Harris L.

Ive gotten a few new roofs in the last couple of years.  

As a rough estimate, figure about $5/sf assumming the house is between 1200 and 2000sf.  

If its much bigger or smaller the $/sf can get skewed.  As an exaggerated example a roof for a 100sf house would be much more than $500 and a 10,000 sf house would cost less than $50,000.  

For a typical house $5 will get you in the ballpark.  

Happy investing!

I agree with a few of the earlier responses.  It really depends on how hot the market is that the property is in.   If you have a good realtor, ask them to pull at least these three pieces of info:

1 Average days on market (shorter is hotter)

2. Average selling price vs list price (higher is hotter)

3. Average # of offers. (Higher is hotter)

If all three point to a hot neighborhood, your risk of allowing approximately a 1 week offer review period is lower. Why leave money in the table in a hot market?   It won't always be that way.   I would list 5ish percent below market to get a lot of eyeballs and interest, counter the top few offers to meet the top price so that you have a couple of solid offers to choses from. And I would take back up offfers in case the first falls through.   By letting the chosen offer know that you have back ups you reduce your chances of them playing renogotiating games in escrow. 

Happy investing

I agree w Minh.  Learn a lot first. Figure out a great strategy, area, build your network and team.  Once confident in what you really want, how to get there, understand the risks vs. rewards, have multiple exit strategies, then take action.  You don't want to get into analysis paralysis, but keep up the research until you know the best next steps. 

It's easy to get caught up in the excitement of a Hot market, but like Minh said, it's easier to lose money than make it. 

thank you @Johnson H.!

Hi Marcus

I received and responded to your emails from last week.  

I did not receive any new emails from you this week.   Your text was very generic about about having buyers in multiple counties.  Is there interest in this specific property?   This one is probably better suited to a buy hold investor.   There is probably not enough margin for a Rehabber. 

Thank you, 

Wholesale Duplex Opportunity in Temescal area of Oakaland, CA.  If you are a CASH buyer or know of one that is looking for a rental propety in the San Francisco Bay Area, here is your chance to purchase a almost rent-ready, vacant property.  

1 unit is already vacant, 2nd unit in on Month to Month and has agreed to take $5K cash for keys. 

Qualified Cash Buyers that can close in 48-72 hours only please.  Combo lockbox on the property.  Call or email me for quick qualification and code to combo box.  

Current condition is good.  Only needs minor work to be in rent-ready condition. 

Peter Karasseferian

408-475-8180

[email protected]

I would not engage a realtor.  They will rightfully want around 3%.  If you don't have a way to get property profile, don't worry.  Just write up the offer based on what the seller tells you (and verify with mortgage statements). Your purch agreement can have a clause about price based on what you expect and will be adjusted should any surprises come up that the seller "wasn't aware of".   

Unless you have construction and/or flip experience I wouldn't flip this as your first. I would either Jv w an experience flipper or wholesale it.  

There a lot of ways to monetize a good deal.  From my perspective, for a first deal I would tie it up and wholesale it to a cash buyer. By his will hopefully begin to build your war chest so that after a couple of wholesale deals or JVs, you can take one to completion on your own.  This will accomplish a couple of things.  1 you will get experience negotiating with sellers and tying up deals. 2. You will beginto build your cash buyers list which can be valuable.  I found it much easier to find true cash buyers once I had a real deal to present to them. 

Keep listening to the BP podcasts as well as Michael Quarles podcast and Sean Terry's podcasts. Between these three and the BP forum you will gain the knowledge you need to be off to a great start. 

And nothing beats taking action like you are and learning in the real world.  I commend you for doing it!

Good luck.