All Forum Posts by: Ron Hollingsworth

In the Phoenix market, I haven’t encountered a wholesale deal in the past year that I would consider a good opportunity, despite reviewing hundreds—well over a thousand, in fact. Their comparable sales are almost always significantly inflated, and they lack the expertise to accurately budget for renovations. Frankly, these practices are detrimental to our industry. It’s clear that the companies dominating this space are keeping the best deals for themselves, leaving only the undesirable properties for the open market. If I were in their position, I’d likely do the same. I strongly believe that legislation should be introduced to prohibit property wholesaling and also prevent double closings unless it can be demonstrated that the property's value has been substantially improved.  This would bring us back to the pre-2010 days, before the real estate flipping market became oversaturated. Those of us with more experience in the industry would once again have the opportunity to build direct connections with homeowners and secure better deals.

Is there a resource whereby I can run a search for, say, the last 6 months or 12 months for all properties that were purchased "off market", not listed by an agent. In my area they are generally labeled, "NON MLS" on the county accessors page.

Are you saying that you wouldn't start Demo until you have done all of the Exterior items on this list?  Windows alone takes sometimes 2 weeks to come in before they can be installed.  I don't see how starting interior demo and framing or rough-in work would be in the way of doing exterior work?

So I'm now entrenched in my 5 full on rehab and I've noticed that I am running into the same problem on them all.  I am having issues with, I guess remembering is the best way to describe it, all of the details that need to be done in a flip.  For instance, today, walking the project I noticed that we didn't address the washer values.  I remember seeing them capped during my first walk through.  Now we are past the drywall stage heading into shower and tile work and I have to go back and deal with something that I should have dealt with earlier.  

I wish I had some list or workflow (granted one that can be manipulated due to differences in properties) that would include all of these possible items that need to be addressed or a better system in handling all of the different inflection points of a rehab.  Anyone have an out of the box system they are using for project management?

I’ve heard that rolling paint provides for a better looking finish over rolled.  Anyone here require their painter to roll instead?

 If you were looking for someone like this, where would you look to find them?

I am considering bringing on a design partner after having graduated from lower end flips to million dollar flips.  The lower end flips are easy to design and source material, mostly cheap RTA Shaker cabinets, LVP, etc.  on these higher end projects it’s been pretty difficult for me.  

I think bringing a design expert to run through these properties with the contractors and put together the design based on a specific budget would be a good idea.  They would also be responsible for sourcing materials.  
Maybe for a split of the profits, say 10-12%.  These higher end homes I’m averaging around $100,000 profit. 

 What are your thoughts?  How would I go about finding someone like this?

I haven't found one yet.  I've analyzed about 75 "deals" listed on that site and not a one of them were acquired deep enough to flip.

I know this is old but wanted to weight in. I used IL as an end-buyer and can say that I no longer use it. I've analyzed about 75 "deals" on that site and not a single one of them were actually a deal. Not one! Most of them were listed at or above 85% of ARV. I can't figure out how they are getting these properties sold.