All Forum Posts by: Steven N.

got a great deal (131k) on a sfh worth 220-230 all fixed up.

The thing is it is actually in really good condition and clean. Its slightly outdated but still clean.

Not sure what to do. Please see quick walkthrough. What would you do?

Originally posted by @Jacob Sampson:

I think based on lack of experience and inability to compare the benefits of each of the options I would just sell it off as is.

Without being able to estimate cost of small reno and large reno and then compare to what they can sell for, it is impossible to pick one option over the other.

Should I wholesale it for 152 or actually close on it and list it on MLS as-is?

TLDR: Got a good deal on a property. It is super clean and actually very well kept.  I don’t know if I should list it as-is, do some minor reno or go all out. I do not have the ability to calculate which would give the best result.

Walk through: https://youtu.be/plRb6aX1e2M

2 images: https://imgur.com/a/JIdhtih

Purchased for 131,000. Zillow estimate 215,000 Could sell for 220,000-230,000 all fixed up. 

Not sure what I should do. Can make 20,000 wholesaling it, 3 buyers wanted it for the 152,000. I listed it at (before I knew it’s condition). 

Major flaw is the pool which the lining needs to be replaced and equipment serviced. 

It’s outdated but maybe I can just list it as-is after fixing the pool? 

At minimum I want to paint interior walls and all doors. 

Or I could go all out and reno kitchen and bathrooms with low cost ikea material. 

Or I could just reglaze bathroom tile and tub white so they don’t look so outdated. 

Carpet is not the greatest color but in excellent shape except in 2 bedrooms where it doesn’t match and is older 

Is it stupid to rip out all the flooring and lay down tile over the entire house?

Roof installed 2008 

Sort of confused what to do

I don’t know if it being a rental is a good idea because of the pool 

This is right at the median home price for the area

This would be my first flip. I usually wholesale. Figured this would be a good first house to give it a go at

TLDR: Got a good deal on a property. It is super clean and actually very well kept.  I don’t know if I should list it as-is, do some minor reno or go all out. I do not have the ability to calculate which would give the best result.

Walk through: https://youtu.be/plRb6aX1e2M

2 images: https://imgur.com/a/JIdhtih

Purchased for 131,000. Zillow estimate 215,000 Could sell for 220,000-230,000 all fixed up.

Not sure what I should do. Can make 20,000 wholesaling it, 3 buyers wanted it for the 152,000. I listed it at (before I knew it’s condition).

Major flaw is the pool which the lining needs to be replaced and equipment serviced.

It’s outdated but maybe I can just list it as-is after fixing the pool?

At minimum I want to paint interior walls and all doors.

Or I could go all out and reno kitchen and bathrooms with low cost ikea material.

Or I could just reglaze bathroom tile and tub white so they don’t look so outdated.

Carpet is not the greatest color but in excellent shape except in 2 bedrooms where it doesn’t match and is older

Is it stupid to rip out all the flooring and lay down tile over the entire house?

Roof installed 2008

Sort of confused what to do

I don’t know if it being a rental is a good idea because of the pool

This is right at the median home price for the area

This would be my first flip. I usually wholesale. Figured this would be a good first house to give it a go at

Actually the owner has a mortgage in place for 85,000. going to try to purchase sub to the mortgage and seller finance the rest

Hey guys. I have a highly motivated seller. wants 240k. place worth 300k. Im thinking to offer 100k up front then 140k in payments over idk how many years. How would you structure this? What kind of lender would I use to come up with the 100k? Over how many years can offer to pay him? I think he's up for 0% financing. Can get 1650 in rent for the home.

How would you do the deal

I want to start buying in bulk and I would like to gain access to the source rather than purchasing through resellers. Thank you

I’m new in the field and forum but this is my thought. There is value in a good tenant especially if they want a 2 year lease in what you said was a seasonal area. But you also have your own costs that increase. I would explain that you have increases every year. I would offer them 2600 for first year that increases to 2700 the next year for the 2 year lease. Then it would go back to 2800 if they choose to stay there.