All Forum Posts by: Sean Tobin

Kevin, a great resource would be to call my partner Len Zickler who used to be a city planner and now works heavily in the development space. 

I will send you his contact info. 

Let me know if you need any other connections! 

@Mark Soleta I use Dan James from Greater Than Handman. He can do minor repairs or full blown remodels. He is very responsive and always affordable.

His number: 509) 220-0487

All the best,

@Rachel Kettenburg so glad you were able to see it. I’ll be sure to provide an update.

All the best!

@Rob Gillespie well done! I think you are the closest on ARV given the condition of the property and upside potential.

Regarding purchase price, I completely agree with you that $130,000 makes sense. The crazy thing is after 10 offers it ended up escalating to the mid $ 150s. 

Thanks so much for your response! 

@Trevor Reilly that is awesome that you guys are working on a flip right now. You will certainly do well in this market. 

All the best!

@Robert Kincaid glad to hear it was a success! 

@Jacob Radawick, I thought you may be able to comment on what @Jonathan McKay is saying about Zappone since you are familiar with that area now. 

@Robert Kincaid, when you sold your home in November 2019, did it escalate quite a bit? 

As mentioned in my comments back to @Soren Nelson, the home had over 50 showings and a lot of offers. I'll reply back with more details when I can. 

I think your thoughts are pretty close, you may be able to squeeze some more out given the square footage in the basement, but if all you wanted to do is rehab the main floor and clean up the basement then 225k is right on the money. 

Thanks again for the response! 

@Soren Nelson, thanks for the response! My hope in asking the question was to spur on the good conversation by way of using a live listing that is getting a lot of attention. Over the course of the weekend, we had 50 showings and a multitude of offers. I will wait to comment on exactly how competitive it got until we have a mutually accepted offer, but regardless I am not sure how some investors are making homes like this pencil when spending so much upfront acquiring the property. One thought is they are rehabbing and holding it as a rental. 

You're completely correct about the basement being a large variable on this one. Given the floor plan and ability for it to be a 4 bed/2bath, I think the ARV on this could be mid 200's if done right, however, that is going to take a significant investment of 45-55k to rehab, so there may not be a ton of meat on the bone.

I really appreciate you chiming in and will follow back up soon! 

Sidenote: I would consider this neighborhood "east-central/upriver"

Friends in Spokane, I thought it would be fun to use a real-time listing to discuss and analyze. Here you will find a link to a listing my team and I just brought to market. It is a fixer property that is tired and worn down after years of tenants living there. I want to get your take on the following two questions: 

1. What do you believe this property will sell for?

2. What you think the after repair value would be for this property? 

Looking forward to your responses!