All Forum Posts by: Adam Wise

I have a qualified lead looking to remodel and sell 3-4 properties a year in DC. It is a father and son duo with a construction and inspection company. They have expressed interest in the following properties: 

- 176 U St SE
- 72 Rhode Island Ave NE
- 611 18th St NE

They would like to go see the properties tomorrow (June 16). I am asking for a 25% referral fee for 36 months due to the nature of their experience and desire to flip multiple houses a year. I am available to meet you at the properties with the clients tomorrow.

Thanks for the input.  There are a lot of older farm houses in Virginia and I am trying to figure out if there is a market for them.  If so, would if be worth the effort.  Would people be more apt to purchase them if they could have some input in the outcome.

Has anyone had any success with pre-selling a flip and customizing it within reason to a buyer's specification?  The idea would be to act as the middle man to bring older homes/farmhouses to customers who desire the look but don't want to deal with the work.  I would keep the budget the same as a standard flip in case the buyer back out.  Any unusual request would have to be paid for upfront.  I would buy the house and do all repairs.  A retainer of 10% of the agreed upon purchase price would be collected up front.  The price of the house would be reduced by that amount if they do purchase the house.  If they back out, they would lose the retainer.

I bought the Estimating Rehab Costs and Flipping Houses book a few days ago....very good information!!  @William Brown, do you know of any investor groups in the NOVA area?

I got the real estate itch when I purchased our current residence in Midland, VA....an old 1940's farmhouse set on 14.5 acres. At the time, it was stuck in the 70's with wallpaper on every wall and to date, we have touched every surface of the house floor to ceiling in just under 7 months. I am gone half the year as I currently work on boats, but the information I have learned on this site, as well as my own "flip" experience, has me excited for what is next. I am in the process of getting my real estate license and hope to start flipping homes soon. Looking forward to when I can be home full time!!!