All Forum Posts by: Shay Nir

Thanks everyone great tips!

I am an out of state investor in the process of building my team in Jacksonville.

I am looking for realtors/retired GC/GC/project manager/handyman/inspector/interior designer to help in project management of purchasing and rehabbing.

I need somebody with the following experience:

*3 years min in rehab projects.

*Rehab costs estimations.

*Supervised GCs in rehab projects.

*Knows the codes/permits required, and can help in getting them, that includes going to the county's office if required.

I will need this person to:

* Walkthrough  properties with live video conference.

* Provide rehab estimates.

* Supervise rehab projects, visiting the site at least 2/week

I am not sure how this work is being priced usually and would love for some advice.  

I am open to hourly/per visit/% of rehab.

I am not sure about the insurance needed here for this person, please advise.

We can't have an employer-employee relationship.

Please, PM/comment with your experience, referrals, and samples of examples of previous work.

I am looking for hidden potential in my potential investment properties in the Jacksonville metro area.

To be specific where can I find information in the county's website or other sites which can answer the following questions:

1) How much more living area can be added and on which floor, 1st, 2nd, basement, convert garage etc?

2) Can the land be split?

3) Can an SFR be turned into multi, how many units?

4) Can zoning be changed from low to high density? how?

If these can't be answered on the county's website, what is the best route to find the answers, and the amount of money / time it will take?

Thanks!

Thanks @Bryan Scibilia, @Account Closed!
"I just went under contract on an MLS deal I'm planning to BRRR and would be more than happy to discuss my numbers, how I got there, and my planned ROI." - I would love to hear more on this deal Bryan.

[Solicitation Removed by Moderators]

Thanks Eric!

Yes, I figured many people do this kind of research, I wanted to confirm this, because when speaking to different flippers and investors many of them use other sources for their deals, such as foreclosures, agents etc.

A falling market skew...thanks for the insight! I just conducted research on best markets to flip, fastest-growing cities and other studies, so I totally get your point

Would most agents are trustable enough to tell me they work in a falling market?

How do you choose which areas to invest in?

Thanks for the answer Will! I didn't think to waste anybody's time I am still trying to figure out how to get to the accurate estimations.
Yes I understand I need to come up with a plan before the estimation.

It's a chicken and egg problem, how would I give an offer if I didn't get a rehab quote yet? 
Contractors wouldn't give me a free quote without having the house under contract.
So I assume I will need to make a plan and pay the contractor for the bid.

How much should the bid cost?
How do I make the plan at such an early stage?
What about the conflict of interest when asking the contractor to give a bid? Should I ask for the rehab estimate from a 3rd party who is not the contractor?

Thanks Mel!

Do contractors usually charge a fee to visit the house and give a rehab quote?

How do you avoid the conflict of interest when sending a contractor who may underestimate for example to make you think the deal is better and hire him while in reality, the rehab would come up much higher?

Does the method I outlined above makes sense to you?

Thanks for sharing this Laura! 

Can you share the rehab costs and breakdown?

What's going to be the cash flow once you rent it? (rent minus all the expenses)

I am using different tactics on sites that show MLS listings to find flip opportunities.

I got the idea after watching Jerry Norton and others on YT who find many of their deals "on market" by conducting online research on sites such as Zillow, Redfin etc.

I am pretty experienced with excels and numbers and can cover a whole city in a few hours and find the best opportunities.

I don't have a physical presence (I live in Israel), so I can't validate my rehab estimates by actually looking at the property.

Here's my methodology:

Finding properties whose $/sqf is significantly below the average of that neighborhood.
Checking renovated comps.

Estimating the rehab cost by looking at the pictures (this is what you will need to validate).

I look for other indicators such as time on the market, usually >60 days, and for consecutive price reductions.

I calculate for what target purchase cost + rehab we can get 70% of ARV.

If the target cost is anywhere near the asking price, the lead is valid and can be sent for further evaluation with somebody in the area.

I have limited experience with a partner in Dallas who showed interest but I still didn't get a confirmation from him if he is actually going to close any of my leads.

I would love to know if you think there are "on market" opportunities and this method can actually find them?

If you have other methods for finding flip opportunities please share with us!

Thanks for any advice!