All Forum Posts by: Rick Strobel

Thanks for the detailed post!  And great job on the flip!!  Look forward to seeing the pictures and maybe a further breakdown on the rehab costs.

It's interesting to me that LA has some of the highest RE prices in the US (I think).  A house that size in a decent neighborhood around here would be worth maybe $250k.  It sounds like you turned that into a beautiful top of the line home with all of your renovations.  I'm not sure you could spend $95k fixing a flip here.  I ran the numbers in my head as I read your paragraph on the reno and guesstimated it as I went and totaled up to $90k.

I don't follow how you make the jump from "driverless" to "ownerless". Maybe in 75 years after their intro in 2020, say 2095.

I could see current generations adapting to driverless. It's my car, my identity, fits my lifestyle and I can read a book during my commute.

Rural areas would become more valuable as the length of your commute is much less important if you can nap or work or do whatever you want as you ride. It could signal the resurgence of the push away from the cities to suburbia. Maybe pushing it even further out.

Yeah, catch him on tape removing your signs. Then you have some leverage to convince him to take his sign down and STFU.

I'd be tempted to mic up a friend or relative, have them knock on his door and act like they're interested in your house. Say that they noticed the sign and didn't want to make a mistake buying a bad house. See what he says.

It's pretty easy to record the conversation. Just use the Voice Recorder app on an iPhone and clip the phone to your belt. Whether that is legal or not I have no idea.

Wonder what he hopes to gain by preventing you from selling your house.

To answer a question posed earlier about how we get people to find this site before they blow a bunch of money with this guy or others like him...

Keep posting articles like this one. It's how I found bigger pockets. There was an ad on the radio a while back about a guy running a similar seminar. I called and made a free reservation. I knew there was going to be a catch, that it'd probably be a big sales presentation to buy books and CDs, I googled his name. Guess where I landed? :D

Rent your house out to a bunch of gangsta drug dealers!

If you don't mind me asking: how did you get that for $41k?

The 3 hour drive is a killer. I'd either flip it to another investor for $70 and do a full out rehab for maximum sales price. The in between deal sounds like a bad idea. You're not going to get a whole lot more profit for the additional capital and time investment.

Why do you sound so attached to keeping the tile? If you're going to do the full fix up, why leave the tile. If you don't like it I wonder if potential buyers will like it. If you're doing the full rehab then I'd considering new flooring too.

One suggestion: partner with someone who is local to the property, maybe another investor or a contractor. If you have someone local who has some skin in the game it might make the flip worthwhile.

$80k for a house that'll be worth $126k? Those numbers sound pretty good to me.

Does it need more than just paint?

According to my PVA the property is still owned by an individual, not a bank. Also appears to have changed hands between family members a couple of times.