All Forum Posts by: Scott Johnson

Lenders and wholesalers are two different things 😂

Always do a General Inspection, WDIR and Septic Inspection.

The hard road often becomes easy and the easy road often becomes hard.

Write letters, do mailers or knock on doors (figure out if you need a peddlers permit in your city). Nothing ethically awkward about that 😉 

Cold calling is targeted because the emotional and physical barrier to entry is so low so people go nuts calling people. Then you get into the do not call list, etc.

My first thought is to check with your hard money lender. It is my understanding that hard money lenders prefer to be the only deed of trust on the property, and tend to require it.

That said, I don't flip regularly, so take my comment with a grain of salt.

It sounds like you have a solid track record. Why not look for a private lender who'll lend more on flips or hold a few rentals to draw equity from?

Glad to meet a fellow North Carolinian on BP!

One thing I enjoy doing is doing actual vacancy and turnover analaysis. So if a tenant's lease is ending in May, I decide if I'm planning to raise rent and if I'm raising it by a lot I assume they'll move out and that it will take two months to get a new person. I also take into consideration the turnover cost in my maintenance costs.

If a lease is coming due and I'm not planning to raise rents, I make an assumption as to whether or not they'll renew at that rate.

I'd be careful with the amount of detail. Analysis paralysis is a real thing. Keep it simple.

@Christopher Johnson, looks like people know your game! Get ready, because we're coming.

@Zachary Vanheyningen, this is the best description one could have hoped for! Absolutely MARVELOUS!

I'm open to hiring a PI to hunt these guys down, if anyone would like to join me. Already filed with the FTC. If enough people come forward they'll do something, but slimey William Silva and @Christopher Johnson seem to be small potatoes. 

They've likely done this before and those are obviously not their real names. 

Counties or other municipalities normally have public real estate data hubs that may include an app for comping. those work for the sale price, and sometimes you can cross reference permits that have been pulled to understand improvements that have been made to the property.

Those work for the sale price, and sometimes you can cross reference permits that have been pulled to understand improvements that have been made to the property.

Getting comparables from a broker is going to get you more information about what updates need to be done to hit the best price point. Developing a relationship with that broker can also help for future flips.

worst case scenario, you can always take the estimate, realtor.com home index price and redfin's estimate and averages them together. That gives you a general idea.

Can you email me that PDF when you get a chance?