All Forum Posts by: Sean Wilt

Looking at my first flip and some of the properties I am looking at have "gravity heat" systems. Honestly, I had never heard of this!  But google says, probably ought to replace.    Should I just steer clear of these properties?   Not really sure how much is involved with replacement as some items have seen say there may be asbestos in the duct work.   These properties are older and generally on the low $ end so there is not much room based on ARVs to replace entire system but wondering if leaving it in would scare away buyers.

I am looking at a property in a semi rural area in NW Georgia. The properties in this area are very difficult to comp because #1, most have not had a transaction in many cases SEVERAL years. Many have acreage, some don't. It's a very nice area as I live nearby and within a reasonably short distance, there are expensive homes that are very nice, , but also some that are small. When I use software to figure comps, I really can't find much to hang my hat on as far as getting an ARV as within .5 or 1.0 miles, there are little if not zero recent sales. And where there are comps, the homes are not similar to what I am looking at (condo vs. SFD). Another issue is some comps were built in 1920, some 1950, some 1980 etc. It's all over the place!

I obviously want to be careful, but at the same time, gut says I can get more than the meager comps show (both in quantity and value).

Anyone out there facing this type of issue?  I feel a buyer would face same issue if getting a mortgage. 

Hi All,

Any feedback on which platform is best and why? I had used REI Pro in the past so am familiar with it at least at a basic level. A buddy of mine used Prop Stream and seemed to like it.

Probably personal preference, but if anyone has a strong opinion, I'd love to hear it! 

I will be doing primarily fix and flips

Hello,

I have 2 full time STVR Properties that have substantial home equity ($400k each). I am looking to be more active in real estate investing primarily in shorter term fix and flips. I spoke to my banker today and he indicated that they won't do a HELOC out of a home that is a rental - only from my personal residence. Is this typical? I also have substantial equity in my personal residence, but just something about borrowing from my life home makes me uncomfortable. Anyone know an option to get funds out of my STVRs on favorable terms? Looking for a LOC that I can get in and out of quickly and easily as I find deals and then cash out of deals.

I have 3 highly successful STVR homes (Austin TX, Tybee Island GA, Lake Lure NC) and have built my own homes a few times including most recently GC'd my residence in Rome GA.  Looking to get into Fix and Flipping after about 10 years of watching from the sidelines.  Have read many books and attended seminars and dabbled, but finally ready to make my first investment.  May have some dumb "newbie" questions at first, but a fast learner and expect to do well.  Giddy Up!