All Forum Posts by: Ronnie Sparrow

How much would you pay someone for the following:

1. To knock on doors of pre-foreclosures and If we close on one of those deals how much would  you pay that person. I provided the list but they did the leg work by knocking on doors and getting the seller to call you.

2. How much would you pay someone to stuff envelopes for you. I provide all material they just address the envelope, stuff it and drop off at post office?

3. How much do you pay someone to put out bandit signs for you?

Well really if you think about it you only own the inside walls of the condo. The fees can be high and you need to consider this into your calculations before you buy. Find out what the monthly fees are and what does it cover. Find out if the HOA will let you lease the property. Some HOA are not friendly to investors. When you do own the condo you are at the mercy of the HOA and must follow all their rules and regulations. Its not for me but it could work for other investors. Do your due diligence up front and know the rules of the HOA before you buy.

Michael,

What is the ARV on the property? If you can get it for under 70% of the ARV then you have more options available to you. In general lenders have no problem lending on good deals.

For me its all about cash flow. Condo fees can really eat away at your cash flow. Look at your numbers before you buy a condo and figure out how much cash flow will end up in your pocket each month. I just wholesaled a condo which I got under conrtract for 10K and wholesaled it for 15K. It was a 2 bedroom 2 bath, rents for $850.00 HOA fees are $321.00/mos. He paid cash for it so he has no mortgage. THe HOA fees cover the water bill, insurance for the exterior building which includes the roof and security. So do the math and if the numbers work in your favor then you decide what yo want to do. Every deal is unique. During my education I was taught to stay away from condos but in reality just run the numbers and then make your decision.

If this is pier and beam then this leveling should not be a big deal. It is my understanding that pier and beam leveling is far less expensive than leveling a slab. I would get some bids and then go from there. If you can tell that the floor is sloping as you described then I would fix it. 

Please forward me more information on this deal.

Welcome to the site Travis, I live in Spring and invest locally feel free to call me with any questions you may have. You can also visit my website to learn more about me and investing locally. 

Yeah call Steve Newsom at 281-829-2074 or 832-640-2070

email   [email protected]

You cannot wholesale it because no investor with buy it.

Michael, I agree with you. I never invest in a deal that I don't understand. I do have some wholesale deals available and two more coming up in a week or so. Let me know if you want me to put you on my buyers list. My list is small but my numbers are real and not inflated like many of the wholesalers around town.