All Forum Posts by: Stephen Talaber

@Christian Lincoln I have been looking for a fix and flip in Poughkeepsie for a while now with no real luck. I put in a few offers but nothing solid has come back. I have access to plenty of capital but can't seem to find a good deal. Do you think this is due to heavy competition? Or do people in the area just not buy enough homes to make a fix and flip work? 

@Mike Todd Welcome to BP. Having a background in construction should serve you well in this industry. I am located in the hudson valley as well and am always looking to connect with other investors. I am currently searching for fix and flips until I build enough capital to invest long term. 

Warm regards, 

Steve 

@Sylvia B. Wow $5400 is a great price for all of that. Nicely done 

@Sylvia B. The kitchen looks much better, I think you made the right choice to do a complete reno. If you don't mind me asking what was the total cost for the new kitchen?

It is amazing what a coat of paint can do. Looks much better! 

@Troy Sheets 

@Dylan Boesch 

When looking for comps I try and find homes with the same or similar school district, # of bedrooms, # of bathrooms, finished sq', total sq', style of home, size of the lot, age of home and neighborhood. I also try to keep my comps as sold homes within the last 6-8 months. Homes listed currently or homes sold years ago do not make for great comps. You want to know what is selling now or recently sold and how long did it take to sell. 

I search for comps using my MLS. I always try to find comps with the same school district, similar size and style within a 1.5 mile radius. That will usually bring up a few good comps for me to use. Of course in some rural areas I have to expand the search.

If you don't have access to MLS, try using realtor.com or zillow.com to look for recently sold homes. If your looking in the Mid-Hudson, NY area I can always help you out as I have access there.

Also, I like using Google maps street view feature to "drive" the neighborhood. Google's street view will usually give me a good impression of what the neighborhood feels like. MLS pics rarely show the neighborhood and I like to know if the home I'm looking at is sitting next to a trailer or guy with 10 cars in his lawn.

IMO finding comps is the easy part of finding an accurate ARV. The hard part comes in estimating the reno.

If you have any other questions feel free to message me. 

Best, 

Steve T 

@Eddie Werner Do you have any pictures of it? 

You could attempt to cut out/ scrape the calk with a knife or flat bar. That might work to remove it, then you could re-point and fill with mortar. Depending on how much calk you need removed this might be a better and faster option. 

Best, 

Steve

It looks like I might have to talk to a RE attorney about this. Maybe he can draw up some type of Joint Venture Agreement 

@Michael Olesky Thank you for the link that was very helpful 

@Account Closed I don't know what her credit looks like. If she is behind on her mortgage payments I imagine it isn't great. 

My friend is in college currently and is not in a position to help her out.