All Forum Posts by: Ron Singh

@Steve Babiak ,@Rich Weese , @Will Barnard  and all others :

I understand the due diligence is very very important before getting into this, i am trying to prepare the checklist for doing own due diligence. 

Please help me if you already have some sort of checklist available and info about ho can anyone do the due diligence by themself?  ($150 per title search is way too much) 

also i am not sure if its even possible or it must be done by lawyer only ? 

personally i like to search/investigate over the internet so any pointers would be much appreciated. 

@Rich Weese 

Thanks for the info and i will wait for the numbers on your first house you build and sold in FL. 

I like the idea of buying lot's and construct sell houses, but its hard or almost not possible in winter time to do it in central/northern side of the country, but flipping would work in winter too.  

I guess you would prefer building single family houses instead of condo/town home or multi family. I would be interested to know how did you build your  team?

did you find it hard to sell your initial new construction house  as sometime buyer prefer to buy a house build by old/experienced builder rather than a new name ?

Rich, 

Thanks for your prompt response, since you moved from flipping houses to new constructions, what do you say in new constructions whats the biggest risk and challenge you face and what do you get in net return (%) after all deductions i.e building material, construction cost,Realtor fee etc. 

I believe you must have a big team of designers /architects, contractors etc 

Rich and all experienced fellas, 

In this post and other BP posts, I read many people saying that margin/profit is getting thin nowadays as compare to few years ago in foreclose auctions. 

I personally called few attorney's office to check whats starting bid going to be in the auction coming up for the houses i shortlisted, i found their stating bid is pretty much close to an appraised value or zestimate of the house or sometime even more

that would make probably a 0 to 3% profit, is that same reason for everyone or its just here in Iowa ?

also if its not the reason for less profit for all of you, what do you feel why nowadays profit is getting thin-er ?

Please suggest.