All Forum Posts by: Shannon M.P. Lewis

I have been brainstorming what I want my purchase criteria to be now that I have just gotten my first flip under-contract, but I can’t help but feel that I’m missing opportunities or ideas for how to distinguish my criteria.

I would love to just see a list in one place of all the different scopes put together!

So without further adieu, what is your buying criteria that you follow when looking for property to flip or rent?

Thank you, @Grant Doyle’s! I picked this property because it was right in between the two main hospitals in Topeka and Washburn University. This gave me a really good back up plan in case the property didn’t sell quickly. However, I was so fortunate because it is such a sellers market right now in topeka that the house actually under contract in 24 hours!

Investment Info:

Single-family residence fix & flip investment in Topeka.

Purchase price: $13,200
Cash invested: $20,000
Sale price: $72,000

Purchased this Single-family Residence that I lived in while doing all of the renovations with my father.

I know in the bay area Redfin is popular, but up in the mountains, I bet craigslist would have great options. 

@Matt Wahidi out of state maybe a better option depending on your start up budget. However, I lived in the Santa Cruz mountains for sometime and found that they are in desperate need of quality rentals. Property Values are lower up there and the homes I really catching the attention of those who work in Silicon Valley. My uncle and his family moved up there and he commutes to LinkedIn. Food for thought!

I posted the other day about investing in my first property! Here’s the month one progress: So far upstairs hardwood has been refinished, master closet has been gutted, plumbing has all been replaced, loft space is closed in, upstairs windows have been replaced, popcorn ceilings have been scraped, drywall upstairs has all been taped, finished skim coating the walls upstairs, and yard has been cleaned up. Unfortunate events of the month: The house was broken into and material and tools were stolen. But they didn’t get away with much and the house has been heavily reinforced with locks. And we did not expect to have to replace all of the plumbing and we ended up spending a week on it.

@Jason Gamio I’m in Topeka Kansas! PM me if you are interested in collaborating. I would love to be your eyes and ears here in Kansas!

@Vinay H. I’m operating currently with a construction loan which can be refinanced at the end of construction. It has a interest rate of 5.57%.

@Vincent John Tucci Hey! Not sure if you resolved your insurance questions yet, however, Shaffer Insurance in Burlingame Kansas (not to far from Topeka) has always provided me and my family with the best rates!

@Garrett F Anderson it does include all of what you listed and I plan on putting it on the market next month. If it’s not sold by mid summer then I’m in a great market to rent!