All Forum Posts by: Satish Mekerira

Thanks for sharing the details including the numbers! Congratulations on successfully completing this project and wishing you luck on your new deals and projects!

Looks super cool. Nice work.

I have flipped a few homes too and would like to understand your cost break up, if you would be willing to share. I am assuming you are saying $65K plus other costs (closing, interest, taxes..) , so your net profit is $45K?

@Ted Phelps sure, I am looking for a single family home with no foundation issues, that requires major cosmetic updates like a kitchen and bathroom makeover, flooring, painting etc

@Robert Rainey  Yes, I agree it makes sense to pay based on outcomes instead of effort. I like your suggestion about giving back something to the realtor. This was a $150K sale. If I were to write him a check,  what in your opinion is a good amount - $200? Thanks

Any Wholesalers out there that have inventory in the Waukesha County, WI area? I am looking for my next flip. Cash upto $100K.

Thanks

Satish

@Devin Johnson , I am interested, looking for the next flip in Waukesha County. Please PM me. Thanks

@Thomas 

@Thomas Franklin thanks a lot for the tips and advice. I will use those questions you recommended to filter the right realtor. I really like the strategy of focusing on the county/city with the greatest number of sales in the last 90 days.

I had a realtor investor help me identify the first property and he was candid in advising me to try to list and sell it myself first, to save on fees. I know realtors say they can sell faster and get more etc., but I think I did good. I was able to list it on Zillow myself and on MLS for $99 through a brokerless listing, and was able to sell it without a seller's agent, but did pay the buyer's agent. So, my realtor made a commission only from the first deal, not the second one, which was not proportionate to the time he spent, therefore now he proposed working on an hourly rate for identifying the property. That does not work for me as I do all the research on the internet to filter the properties, that he would then quickly filter further, show me the homes and help decide if it was worth pursuing . Now I have reached out to a few realtors that were the seller's agent for properties I filtered, and asked them to notify me if they see a good flip opportunity, but I I do realize they would have the seller's interest in mind.

When I screen a site like Zillow to identify opportunities for flipping I filter the location, max selling price etc. However I spend a lot of time clicking on the details of a property to compare the list price with the assessed value, the Zillow estimate (Market value) and the surrounding homes assessed values.

Is there a quicker way to do this? If I had an excel file to sort through the parameters like City, selling price etc. and could sort by % difference between list price and assessed value, that would be useful.

Thanks

Thanks for words of encouragement to all of us @John Arendson

I have an eye for good design and can manage projects by sourcing good quality contractors for the best cost. I like the process of finding a fixer upper and making it a nice house.

Considered rental investments but right now to me and my wife - fixing and improving homes seems more exciting than managing a rental.