All Forum Posts by: Samir Pathak

I'm definitely interested as well!

Hey BP - I'm in the process of identifying what types of properties I'd like to focus on for flipping in a given area.  I'd like to base this on what type of housing sells best in the area.  For example, in J Scott's flipping book, he sites an example where 318 houses sold in his target area and only 2% of them had less than 2 bathrooms.

Is this type of data already calculated somewhere?  Or, would I pull a list of sold houses and figure it out that way?

I'm brand new to flipping and am excited to get started!  Thanks in advance!

Target areas: San Francisco Bay Area Concord Martinez Pittsburg Antioch San Pablo San Jose Contra Costa County Santa Clara County

Hi, @Nick Zocher - I would be interested in getting added to your list.  I'll send you a colleague request.

Hey @Rich Lopes - where is the house located, what type of residence, and is the $3900 FMR?

@Jake Van Vorhis - can you PM me the same?  Looking to solidify my team as well.  Thanks!

@Nicholas Lohr definitely something I would do if there was real interest.

@Derek Jones I hadn't heard of hubzu until your post, so thank you!  I had checked on auction.com yesterday, but found nothing.  And I agree about the $15 not equaling $100k, which is why I was puzzled.  Your statement about backing Madison while the others don't also makes sense.  Thanks!

Hi BP - would love to hear your thoughts on a wholesaling opportunity I was given. The comps seem okay enough to me, but something doesn't add up given the estimated rehab and ARV amounts. The property isn't listed as pending, so I'm wondering how this house could even be wholesaled.

Below are the estimates I was provided along with the comps used for the CMA. I'm brand new to this, so there may be something glaring that I'm missing. Any insight is helpful!

Wholesale property
5317 Hibiscus Drive, Fair Oaks, CA 95628
3 bed, 3 bath, 2086 sqft
Purchase Price: $342,000
Rehab: $15,000
ARV: $450,000

8 Comps covering low, medium, and high properties

(cc @Charlie Brown)

Welcome to BiggerPockets, @Debra Donovan!  Which cites in the Bay do you focus on?  If you haven't come across it already, the Ultimate Beginner's Guide to Real Estate Investing is a good starting point: 

https://www.biggerpockets.com/real-estate-investin...

@Account Closed - question on your statement about "1. Under market rents DO NOT change the cap rate."  

Converting to market rent would just change the price investors would be willing to pay if they were to pay the price dictated by the market cap rate, right?