All Forum Posts by: Shiloh Cunningham

I've been wanting to expand out of my market in Iowa, and see that the Winter Haven, Lakeland, Haines City areas are similar to purchase points as my market. Are there any flippers in that area that would share some insight? What kind of margins are you getting? Any unique challenges? Trouble with cities on permits? Thanks 

I have used them to fund a flip and I would absolutely not use them again. The lenders were very good and communicating at first, but as we got close to closing, we could not reach a single person in the company during business hours. It almost lost me the deal because they delayed closing for us. Fast forward to the end of the deal and we have been trying to get payoff letter for weeks to no avail. I would search for other HML

Hello Nicholas, can you also send me that zoom meeting link? Thanks

In my market, pretty much only A class housing has granite/marble/quartz. Everyone else has laminate.

Very interesting. Thank you for your insights!

Will the property still cash flow after you pull your money back out? I would say, if the numbers still work, keep pushing forward. Especially if the property appreciates in value over time. 

Investment Info:

Single-family residence fix & flip investment in Muscatine.

Purchase price: $70,000
Cash invested: $18,000
Sale price: $122,500

Flip property acquired from HUD. The renovation was mostly cosmetic, except for the abundance of burst water pipes in the house. Almost all water lines ended up having to be replaced. Rehab completed in 3.5 months. Multiple offers over the first few days on market, and after a VERY long escrow, sold right around the 6 month mark.

According to your numbers in the picture, you will be negative cash flow

For comps, assuming you don't have access to the MLS, I would check your local county assessor website (GIS). I am able to find recently sold homes in the area that way. Each county seems to have a different version though. I believe you can also find sold homes on realtor.com, although I don't know how recent they are.

My area has a local facebook group for landlords to post rentals. That's a good resource. I have not had much success with craigslist. FYI, BP has a new tool called BPInsights that provides rent data.