All Forum Posts by: Steven Moore

Good Morning!

I’m looking for advice on purchasing an off market property.

-It is a 3/2 1580Sqft Single Family House.

-The property could use 50-70k in Reno.

-The estimated ARV is conservatively 100k over the purchase price.

-the lot size is .4 acres and the property behind this one has offered to buy half of the lot (backyard) to add to his property.

I’m trying to find the best path for this property with the funding I have. Possible scenarios I have ran through are....

- Live in flip, FHA 3.5% down, sub divide the back yard and sell to the neighbor, then using the profits for rehab?

-Live in flip, sub divide the back yard and use that money towards a bigger down payment. Fix the property up my self over next 1-2 years.

-Go in with a partner and flip the property

-Wholesale for an estimated 30k assignment

* I do not have the funding to take on the whole Reno out of pocket.

* My goal is to continue accumulating capital to in turn build my cash flow and number of doors.

Any and all advice is welcome!

Thanks,

Hey Sarah! although I'm not an appraiser by any means I think if you started with the immediate area around the property, then transition to "competing neighborhoods" ones that may be very similar in characteristics to yours you may find something. It may also be possible to see what is currently for sale in your area vs what has sold. If nothing else connecting with an investor or agent in your specific area would be ideal! The good news is that everything seems to be selling over asking price these days!

@Tristan S.

Yeah Boone is crazy! Just from graduating a few years ago until now it has appreciated so much. Wishing I would have done a house hacking throughout college up there!

@Keith Dowdy

Thank you Keith, I’ll be reaching out shortly!

Looking for short term rental in Western NC, from Boone down to Asheville. How are some of these major towns with rules and regulations regarding short term rentals and how do you maneuver through it?!

happy to connect as well! I’ll shoot you a message 

Looking for a reputable property management company in Spokane WA.

Hey Bill I am also local to Plaza Midwood and I know a great agent that is local to the neighborhood as well. I will add her contact info for you! 

Also would you be willing to sell the cottage separately? Good luck with everything 

:bholland@dickensmitchener

@Anett F. I’m local to Charlotte and I know there are a few FB groups that advertise meetings,although with Covid I believe a lot of them have transitioned online. Would love to connect though!

Interested in this as well!