All Forum Posts by: Shubho Ghosh

I appreciate your feedback @Bob Norton, yeah I realized that as well. My GC actually brought that to my attention when we got to the property.

Thanks you!
 

Here are the numbers - I'm unsure because of taxes and how it will impact the bottom line

Purchase Price: $225,000

Rehab:$35,000

ARV:$320,000

I've spoken to a couple of hard money lenders who will lend 70% of ARV and either way I'm going to be spending approximately $40k out of pocket.

So it's looking like 20k profit before taxes. 
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Now I want to explain that I'm attracted to this flip because it's easy. Mostly cosmetic changes and it should be done fast. 

It seems like a great way to get my feet wet and get experience. 

Should I do this deal just for the experience? 

I've even considered looking for an equity partner for the 40k, so its not my cash, and offering to give him all of the profit. 

any thoughts would be appreciated! 

And thanks in advance!  

Hey @Kyle Strouse Thanks for getting back to me! Mostly interior for this job and maybe some landscaping. No MEP work. but having all those contacts would be great. I appreciate you helping me direct my understanding in understanding what I need. I would definitely choose Fast and Good - as long as they stick to a predetermined budget I'm fine with paying what its worth. 

@David Lilley Thanks for the referral! I will reach out to him asap.  

Hey Everybody! 

I'm about to buy a property in Dallas that I'm going to need a top-notch contractor to help me maximize profits while still having quality work done. 

If this property is picked up hoping to start before December and finish before February - I understand there are holidays in between but I'm willing to pay a bonus if we finish on schedule. 

If I don't end up buying this property then I'm hoping to build a relationship so we can do several deals in 2020!! 

I thought I responded to this before - but apparently not - sorry @Jason Turgeon ! 

I really appreciate your feedback - making the tweaks you mentioned, it made the numbers work. but the seller didnt go for it this time. I'll keep it all in mind for my next few offers. 

Thank you @Patricia Steiner, @Jason Turgeon, & @Kevin Leahy

I will be keeping all of your points in mind as I continue this journey :) I already started readjusting my methods for both calculating and deal-finding so hopefully the fine-tuning will help.

I'm attaching my most recent BRRRR report that I just did a couple of days ago. The ARV was around $200000 and the price point I was hoping for was around $85,000

And for the record my hard money lender charges 1 point per month so since that isn't an option on the calc I was using 12% which is the closes thing (I think).

(according to BP this link will stay active for 7 days)

BRRRR analysis

So I've been networking around and I've gotten in touch with a lot of real estate agents and Wholesalers who have been sending me a bunch of potential deals. I'm also in touch with a couple of Hard money lenders so my network is coming along pretty well. 

I'm pretty set on Using BRRRR for my deals as opposed to flipping.

With that being said, none of the deals that I'm getting are making sense when I put them in the BRRRR calculator.

Not sure if I'm doing something wrong but no matter what the discount is on the property almost all of the properties that I put in are coming out cash flowing negatively. 

Has anyone experienced this with the BRRRR calculator?

Hey @Jonathan Rivera 

I currently live in Texas but If you have any good deal come your way I'm totally down to look at it. I moved to TX a couple of years ago from NJ and my parents are still there. Feel free to reach out to me here. 

Also, I do want to say, if you have good deals finding buyers will be really easy to find.

-SG 

Welcome Max!! This is a great place to learn and connect with people who are actually doing what it is you're looking to do. 

Just go through the forums and definitely read the BP books which help jump start your journey. 

Best of luck!

@John Woodington Thanks for building the dream man!! Best of luck - Keep sharing the success!