All Forum Posts by: Sean Hurwitz

Thanks @Bill Gulley
I'm familiar with what you are saying. I'm actually going to meet up with an Appraiser
next week to learn from him a bit about all that.

Thanks for your input. I really appreciate it.

Sean

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Welcome to the site @Jon S.

Wish I could give you some answers to your questions, but I myself am just
starting out in the flipping game.
Same kind of vibe, got some cash, got great credit and need some excitement since I'm a little bored with the day job...haha.

Hit me up any time.
Would love to hear more about what you guys decide doing and where.
By the way, me and my Fiancee are always looking for future JV's...so don't hesitate.
Could be fun.

Good luck in 2015!

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@Francis A. @Aziza Sackett
The forum you're looking at was for last year :-)

I was actually at the meeting Francis mentioned...it was this last Sunday.
It was a bit of a let down in regards to the amount of time allocated to networking.
The topic the speaker spoke about was great (Notes...in general), but it took too long.

I'm not looking to start one of these, just way too busy workin', but I'd be happy to come to one if you put it together Aziza.

New investor here and looking to meet others :-)
Make it happen.

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Originally posted by @Karen Margrave:

@Sean Hurwitz It's kind of like the chicken and the egg. Are buyers snapping up the properties so that they can rehab and resell, are they buying them while prices are still down to live in or keep as buy and hold rentals?

That's what I'M askin' :-)

There's many things you need to look at to get some kind of idea of what is happening in the market.

One of the questions you want to answer is what is the local rental market like? Are properties priced as high as when the market crashed or are they lower? How many units are on the market for rent? How many homes in the area where you are thinking of rehabbing are for rent?

All Great questions Karen, and that's exactly what I'm trying to find out.
Question is, other than knocking on peoples' doors and asking them if they rent, and for how much, what tools do I have online to help with this research? And I don't mean Craigslist...I mean, is there some kind of City site where I can get all this info?
Where would I conduct this research?

If a house is in an established neighborhood and houses aren't selling at all, that could mean a few things, one that people are holding properties until prices start appreciating enough to where they feel they can sell, rehab and sell for a higher price, or it may be such a great neighborhood that people don't want to sell, but live there. Another thing that needs to be considered are local economies, etc. (though here in so cal it's good)

Great points, unfortunately I don't know much about the neighborhood in that capacity. I want to end up buying in great areas, but right now, I need to start on the lower end of the spectrum...it IS So Cal...prices are insane. So I'm starting off in middle class areas. Not the ghetto in any way shape or form, but not the ESTABLISHED amazing neighborhoods I'd like to be in.

An appraiser has to rely on their experience be able to look at all of the factors that drive pricing to come up with values in areas where there's no comps.

For us, when there's high demand and little supply of inventory in an area, high prices on rentals, etc. that's where new construction comes in.

Great stuff Karen, thanks for taking the time :-)

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@Matt Araujio THANK YOU!

What a great amount of information. I really appreciate it.
I'm sorry that didn't work out for you.

I wonder though, what would an appraiser thought of your numbers
Would they have agreed on your ARV estimates?

Good luck in 2015...hope you get those 2 flips!!!
Please keep me updated on your ventures!

Have you ever been to Stone Pony? I've played there 2 years in a row now...LOVE the Jersey crowd :-)

Thanks again man.

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Good morning everyone.

I'm wondering if anyone out there knows a way (a site possibly) to find out stats on specific areas I might be looking to flip houses in.

You see, what I'm trying to find out is this:
* Are people in SF homes in a specific area RENTING or BUYING for their families?

Obviously if people are just renting, and no one wants to BUY a house in that area, Flipping wouldn't be ideal...good thing to know before I flip there.

Is there any official website I could check out for these stats?

Please advise.
Thank you for your time and advice.

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Ohhhh...Interesting @Scott C.
That's a good point.
I mean, I'm not looking to OVER Rehab, just a standard one.
But it seems that area hasn't sold any renovated homes in the last 6 months.
Maybe there IS a need for them, maybe they just aren't there.

Is there a chance I could start being a part of a change in the area?
Or is it more likely that there just isn't a demand for "nice" rehabs?

Love the input Scott.

Thank you

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Very good points @Andrew Cordle
Thanks for your input!

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Thanks @Jeremy Billauer
Much appreciated!

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@Andrew Cordle
Thank you very much for the input.
In regards to your questions, yes, I'm talkin' about Flips.
What would you look for in an area to see if there's a good amount of retail buyers?
I mean, they ARE selling in the area, but they aren't really being renovated.
I KNOW I could get some of these at a great price and rehab them to be worth MORE than the others (that are selling).
Question is, will they be worth MORE after the rehab...and as you said, will I have buyers!

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All Forum Posts by: Sean Hurwitz

Sean Hurwitz has started 8 posts and replied 143 times.

Post: ARV?

Post: Hello from Los Angeles

Post: Los Angeles Area Meetup for Beginning to Advanced Real Estate Investors

Post: ARV?

Post: ARV?

Post: Rentals or Owner Occupied?

Post: ARV?

Post: ARV?

Post: Appraisals in Southern California

Post: ARV?