All Forum Posts by: Drew Denham

I flipped two houses in bay city in late 2012 and early 2013... I agree there isn't as much out there but I won't give up. If u keep snooping out deals eventually one will land... Even if you have to spend a little more it's worth it (spend money to make money). I am now in Grand Rapids and I'm struggling to find anything really... I cannot believe how many houses here are flipped... Any other people see this in Michigans larger cities? I feel like I was better off in bay city/Saginaw and midland... Prices are up? So would it be more advantageous to flip vs rent and hold? I think we are years away from the top (2006) but looking for others opinions

@Chris Mills

All about sq feet! I was burned on my first flip as the house appraised for 7K less than purchase price. Go to Zillow and look at recent sales of similar sq feet

@Steve L

Thanks Armondo

How would you suggest I approach determing what a good deal is? Same as a SFH? ARV * 70% - Repairs = purchase price.

Why would an investor want to sell their multi units? Either something is wrong with the house or they don't like being landlords anymore...

Why would an investor want to sell their multi units? Either something is wrong with the house or they don't like being landlords anymore...

What are your thoughts of looking at properties in C,D and E areas? I'm new to Grand Rapids MI and don't have the capital to purchase in top notch areas. Any formulas/strategies you use to determine a solid buy? I use ARV *70% - repairs = purchase price.

Thanks,

What is the best way to more propeties without over extending yourself?

Hi all,

I flipped two houses (out of my 401K) and paid off my debt and i'm currently renting my only residence. I moved to a new city and i'm looking to dive into the Grand Rapids Mi market. I have about 10K cash and pre approved for $150K. My strategy was always to keep flipping until I had enough cash to buy a rental but I know the window for cheap houses won't be here forever. What is a good strategy to use? Get a house to live in (and fix up) and hammer my one mortgage (with it currently rented)? Or finance a house then keep looking? For example, buy two houses at $75K each? Looking forward to your responses!

@George P

Hi George - Could I ask your strategy on how to purchase houses with little capital? For a little background on me I flipped two houses cash and paid off my debt. I moved to GR Michigan and am currently renting my house out where I'm from. I have $10K cash and $150K pre approved. Can I have your opinion of where to start? I've only done flipping and not sure of a strategy to use to pick up some rental properties before the markets pick up.

Thanks,

@Craig Vandenberg