All Forum Posts by: Sergio P Ramos

@Alecia Loveless thank you. After all of the hazards have been removed from the home i anticipate the left over debris would be minimal.

Thank you @Scott P. I am curious enough to try different approaches and find out what worms best.

Thank you @Jay Hinrichs

@Jay Hinrichs did you demo it yourself or hired a company to demo?. The home was built in 2002. I don't forsee any asbesto issues. Hiring a company to demo would remove my liability of any violations. Forgive me if im being a bit forward: would you be willing to give some sort of tips/guidance of the process ypu went through from start to finish? Thank you in advance.

@Chris Seveney is the title misleading? I hope it didn't come across as I'm promoting fraud.. yes it have. I spoke to the local fire chief. There is a cost to prepping the home for burning which includes removal of all hazards and permits.

@Matthew Paul yes. The house would need to be prepped: meaning shingles and hazards from the home would need to be removed. So burning it would not come without a cost. However the cost is much less than a full demo. Yes the tax deduction!!

@Kevin Sobilo that was brought up. The vision of creating the 2.5 acres into a small townhouse community simply wouldn't allow a home sitting at the corner of the lot.

I am currently in a back and forth bidding situation. I wouldn't call it a bidding war. Yet! The property in question is roughly 2.5 acres. It checks all my boxes for potential. EXCEPT!... There is a home dead smack in the middle of it. In order to do what I have envisioned, the house must go. It's a shame, the home is a great home to live in with potential. ( Side note, the seller only wants land value. Seller understands the house must go in order for the land to be worth anything). First thought was to have it moved. Quotes were expensive!! Second thought was to give away the home free to whomever is willing to do the work.( look for this in the classifieds if I end up with the property. And of course simply have it demo-ed. A bit pricey, but at land value there's definitely some room. As i was driving through the neighborhood scoping the area out i noticed a new shiny fire department. The idea of purposely burning down the home came to me. I've read about this before. It all depends on location of course. 1 good thing I have going, there is no restrictions there. I understand there is a cost to have it burned down. the home would have to be prepped to to meet the requirements for permitting. Has anyone burned down a property on purpose?

@Chad Shultz this response was awesome. Thank you. It brought up a great point. For conversation sake: It seems you are well into your career to be able to buy great properties and sell for great value/profit. Originally the question was how do you fair later in the year. Was there ever a point where you didn't have that great property and budget to do everything you wanted to the flip to reach that very top of the market? If so what did you do you to make the most out if it. What did you prioritize and what did you sacrifice to still make the most out of it?. I understand there are plenty of scenarios where one could come up with. And I apologize for that. Again thank you for your response.

@Connor Hibbs thank you..you are 100% correct. I've come across areas, even neighborhood that seem to attract or even cater to professionals that change jobs and relocate all through out the year. These investment property are out of my league though. You're right it just depends in what you're looking for. Thank you.