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All Forum Posts by: Sean H.

Sean H. has started 29 posts and replied 216 times.

Post: Rehabbers: What is your average net profit per project nowadays?

Sean H.
Pro Member
Posted
  • Flipper/Rehabber
  • Pittsburgh, PA
  • Posts 224
  • Votes 75

Rich,

It seems like you were making awesome returns on your money. Why did you want to leave that area if you were doing so well??

Post: Do you have to live in a large MSA to be a successful flipper?

Sean H.
Pro Member
Posted
  • Flipper/Rehabber
  • Pittsburgh, PA
  • Posts 224
  • Votes 75

I feel like the opportunities are there in smaller towns as long as homes are selling, but in order to maintain a steady volume, there needs to be a larger population base. Or it could mean you have to work that much harder to find deals.

Post: Turnkey rentals... Too good to be true?

Sean H.
Pro Member
Posted
  • Flipper/Rehabber
  • Pittsburgh, PA
  • Posts 224
  • Votes 75

I have offered turnkey properties for sale in the past. There was nothing really wrong with them other than I didn't want them anymore. They made a decent return (better than anything you can find in a savings acct), and they have their own niche market in people who would love to invest in real estate, but lack the knowledge or time to do so.

That being said, I would never ask for a deposit unless we had a signed purchase agreement in place. Seems fishy to me. You're right to avoid this type of seller at all costs.

Post: If you have employees.... The Employee Handbook Generator

Sean H.
Pro Member
Posted
  • Flipper/Rehabber
  • Pittsburgh, PA
  • Posts 224
  • Votes 75

You will need an employee handbook to go over your company's policies, procedures, and to outline your company's compliance with federal mandates. Check out this awesome employee handbook generator. No idea why it is free or why it's on the forestry website, but it is very useful. Check it out...

http://www.na.fs.fed.us/wihispanic_eval/employee_handbook/default.htm

Post: Yet another flip - probably our best one yet

Sean H.
Pro Member
Posted
  • Flipper/Rehabber
  • Pittsburgh, PA
  • Posts 224
  • Votes 75

Congratulations Chris! The pictures look awesome and the profits speak for themselves.

Do you and your partner have full time jobs or is flipping your only means of income?

Post: You choose, I buy??

Sean H.
Pro Member
Posted
  • Flipper/Rehabber
  • Pittsburgh, PA
  • Posts 224
  • Votes 75

Oz, I would feel like that would be a pretty reasonable fear regardless of the tenant.

Chris, thats definitely a great idea! I'm guessing that this friend of yours has a commercial construction business as well?

Post: Does anyone use Facebook to screen tenants?

Sean H.
Pro Member
Posted
  • Flipper/Rehabber
  • Pittsburgh, PA
  • Posts 224
  • Votes 75

Definitely use facebook, googling, etc. as a method of screening tenants.

College town landlords should really employ this technique. Whenever I was in school, our landlady was "friends" with the people in the apartment behind ours. They put up a ton of pictures of their new, cute kitten frolicking throughout their apartment.Within an hour the landlady was there to give the girls a hefty fine.

Post: What Does "Vulture Investing" Mean To You?

Sean H.
Pro Member
Posted
  • Flipper/Rehabber
  • Pittsburgh, PA
  • Posts 224
  • Votes 75

I agree with the previous statements. When I hear the term "vulture investors" I think of a knowledgeable investor looking to prey on a weakened or less knowledgeable person, in a devious or sneaky way. Definitely negative connotations, but may be get people talking.

Post: What are you paying in PM fees?

Sean H.
Pro Member
Posted
  • Flipper/Rehabber
  • Pittsburgh, PA
  • Posts 224
  • Votes 75

$50 per unit
$150 finder's fee

Post: Whats the best security system for personal residence?

Sean H.
Pro Member
Posted
  • Flipper/Rehabber
  • Pittsburgh, PA
  • Posts 224
  • Votes 75

I'd go Remington 870 myself, but either one would work.

A lot of times break-in's are done by misguided youth and drug addicts, not exactly people who watched the Thomas Crowne Affair over and over looking for pointers. They are really after an easy score, something to brag about or easily sellable. Common sense prevails most of the time, don't flaunt expensive items, good lighting, a dog, neighbors looking out for each other, but if everything else fails, you need a way to put someone down.

Security systems are hit or miss. We are required to have one at work for insurance reasons and have more issues with false alarms, locking doors, then forgetting thus tripping the alarm and police locked and loaded showing up. It's more hassle than its worth.

If you make yourself look like a tough target using simple techniques, the high junkie will probably go after the neighbor's unlocked shed, instead of your fortress of solitude.