All Forum Posts by: Ricky Knack

@Deborah Vahle my plan is to resell at this point, eventually buy and hold. My threshold for profit is if I can go work at my job and make the same or more money in that time frame, then it’s not really worth it. The problem is having that number and getting the deal. Trying to tweak the rehab costs, the holding costs really isn’t an option. Ultimately, I suppose it just matters what I can accept, but trying to more methodical about it

What is the minimum profit you look for in a deal? How do you calculate what you would like to have your profit be?

Repetition is the key, for sure. Was hoping to find a good workaround in the interim. 

@Charlie MacPherson let’s create our own app then =) thanks for the responses ...

@Charlie MacPherson being in the business of reselling though, finding someone to buy a 500k in a 350k neighborhood would be more of a challenge to sell. So is it reasonable to expect a real estate agent to be able to come up with an average for the neighborhood? Or is it realtor or some other site a good enough resource? Or do we have to come up with our own app? =)

Thanks one and all! Certainly using a real estate agent and their resources is ideal. I guess I'm more concerned about the after hours, no agent around, trying to get a feel for the neighborhood without having to drive the area I'm looking at. Not asking to actually value the house per se, but rather to say "there's no way that arv (given to me by a real estate agent or some other resource) will go over in that neighborhood." I've been given comps that in no way match the neighborhood the house is actually located in like @Charlie MacPherson and his gun control issue =) But when you zoom in on realtor, like zillow, the estimates on houses that are next door and that exact neighborhood populate. If the ask on the subject property is let's just say 300k and the ARV is 450k, but the rest of the neighborhood looks like it wouldn't support that (maybe the best estimate is 410? and a recently sold 400) but the next neighborhood over has everything in the 500's? Wow... went really deep on that. At any rate, hope that clarifies...

We all know a Z-estimate can vary wildly in either direction, but what has been your experience with how accurate the estimates are for properties on realtor.com? 

@Bryan S. That’s more my question though... do other areas of California or the country for that matter even require a solicitor’s permit?

@Bryan S. Ha! No. Just tired of California and the fees and the taxes and the ... at any rate, no is that answer. Wish they would modernize the process at least and let it be set up on recurring payment or have it available online or for crying out loud take credit or debit card as payment instead of just cash or check. Who the heck carries checks with them?? Maybe I was just feeling sorry for myself, or maybe I just needed to see it laid out in front of me, or maybe it was just another unexpected hoop I have to jump through. I really want to ask the next solicitor that comes by for their permit though =)

@Reba Marabotto I spent the better part of the day between the recorder and city buildings today (yes, I live in Temecula) and its a part of filling out the business license for the city. There’s a box for door-door which triggers you over to the sheriff who then has you fill out the solicitor background check paperwork... I’m trying to look at it as marketing dollars... about 180 per year and 6 stops by the sheriffs office for the right to be able to knock at a door =\