All Forum Posts by: Scott Sarel

Hi John,

Being in the residential construction industry all my life has afforded me plenty of opportunities to try different materials and coatings. I would suggest you go with the Cedar and apply a product called "onetime". Good luck with you project.

I just started it. What a great book so far. I guess I'm jumping ahead of my self. Thanks Nick!

Hi All,

Was just wondering if anyone as flow charted the entire fix and flip process from start to finish. For newbies in general, having that visual aide quite often clears everything up. It would be great to see all parties involved and when and how they touch the process and when.

Thanks,

Scott

Hi BP Family,

I'm a rookie in the REI space but have been in the residential remodeling industry for over 25 years. Rehab cost and time completion is not an issue however I find myself in the paralysis analysis mode in pulling the trigger on our first fix N flip because of my novice with the offer end. If anyone would be so kind as to review and offer input on my below math, I'd be happy to talk rehab shop in exchange. I'll talk rehab shop anyway!!! My problem is my Realtor has pulled comps of $225 - $250k with an average sf price of $125. As I see it 1624 sf x $125 = $204K however when I pull comps up matching apples for apples, I see the AVR at $184k.

Here’s what I see in the numbers;

Flip Calculator Analysis

3 Beds, 2 Baths
Ranch - 1624 sf
Built 1981
.37 Acres
Waterfront

Profit & Projections

Property Information

Hi All. I'm new to REI and BP but forging forward full steam in this new venture. We located an opportunity and are contemplating using Equity Max to help fund our project. Can anyone share their experience with them? Thanks!

Hey Thanks everyone for the quick reply. I'll certainly follow all your suggestions!

Hi All,

Stumbled upon the Bigger Pockets website surfing the web for knowledge on Real Estate investing…Boy am I glad I did! What a great collection of people and information and presented in so many platforms. Jumped right into the podcasts and now I'm venturing into the forum section! I've been in the residential construction industry a looooong time but have also added business management along the way. Currently I'm The National Installation Director for Sears Home Improvement and oversee 60,000 installs a year performed by 2500 subcontractors nationally. My interest in REI comes for a love of construction and need to continue building wealth. Our kids are grown and out of the house so my wife and I feel it's time to supercharge our retirement while building a legacy for our family. We're particularly interested in fix & flip and hold & rent at this time and know our need at this time is for knowledge and networking. Although I'm on the Bigger Pockets website every day and heading to my first meeting this week, if anyone has any other suggestions for getting started please feel free!

Thanks

Scott Sarel