All Forum Posts by: Raymond B.

Ray,
Thank you for your opinion on Miami.

Just like any city, you have to know the neighborhoods, or have someone you can rely on, for that info.

Ray

Hello Ally,
I'm curious, which city or town, in Florida, is your property located?

I remember reading that you have a handyman, that you trust, in Florida.

Thank you,
Ray

Jeff,
Welcome back, it has been quite a while since you've posted on this site.

The site for Lee county is very helpful.

I live in a city with 40K+ population, and the mayor doesn't like (or believe) in technology.

Ray

Kel,
When you get a chance, can you post some pictures of your 5th SF?

Thank you,
Ray

Fire in a six family (3 floors) on the top floor.

Nobody injured.

City condemned the property, had to have it torn down.

Was a cash cow.

Ray in Ct.

Made a mistake.

Ray in Ct.

A knowledgeable wholesaler knows what the investor wants.

If it is a rehab/flip he knows that the most that I'm going to pay is 70% of the ARV minus the repairs.

Ray in Ct

Hello Donna,
Congratulations Donna.

Can you tell us which City and State the house is located in?

Thank you,
Ray in Ct.

At the Lowes in Ct., your order must be at least $2500., to go to the bid room.

I have asked for discounts on smaller orders, (after placing a huge order, $10K+) and I have received at least a 10% discount.

If you don't ask, you'll never know.

Ray in Ct.

Here is how a lot of rehabbers would figure this project:

ARV $300K

Minus 30% for everything, except the repairs equals $210K

Minus the $25K repairs equals purchase price of $185K
(Note add another 10-15% for the unexpected repairs, etc., when you get an estimate)

With the above formula you will make about 15% profit.

Ray in Ct.