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All Forum Posts by: Taylor Nunn

Taylor Nunn has started 10 posts and replied 60 times.

I live in a neighborhood just north of Chicago. Near multiple train stations, and easy access to lake Michigan. It's not the best neighborhood, but also not the worst. Schools definitely not the best. It all sounds good, and manageable to buy a property, renovate, and sell it. 

But how do you know people are going to want to buy in your area? Just from my small amount of knowledge, I believe there's a lot of opportunity here, but I'm afraid if i invest in a property here that I will have trouble selling it. What factors go into determining a good market to sell in? 

Post: Selling your 1rst property

Taylor NunnPosted
  • Zion, IL
  • Posts 60
  • Votes 35
Originally posted by @Chris Jensen:

@Taylor Nunn I would recommend starting with the end in mind. When you find a property that looks promising, work with a real estate broker to conservatively estimate the after-repair market value (ARV) of the property that's supported by plenty of comps. That should give you a fairly reliable selling price. Then see what expected profits are after estimated deducting purchase, rehab, and selling costs. If you're comfortable with the estimated profits, and you have a reliable expected selling price, then it's probably a good deal. Hopefully that helps a little.

Thank you for the reply! Great insight. I guess my real question is, how do you know the house is going to sell in the area I decide to buy in? How do you decide your confidence level in knowing it's going to sell? I don't want to get into a situation where I buy a house and have it sit there because no one wants to buy it. I'm in a town North of Chicago. Not the best, but not the worst. I see a lot of opportunities, but am afraid nobody wants to live here.

Post: Selling your 1rst property

Taylor NunnPosted
  • Zion, IL
  • Posts 60
  • Votes 35
Originally posted by @Chris Jensen:

@Taylor Nunn I would recommend starting with the end in mind. When you find a property that looks promising, work with a real estate broker to conservatively estimate the after-repair market value (ARV) of the property that's supported by plenty of comps. That should give you a fairly reliable selling price. Then see what expected profits are after estimated deducting purchase, rehab, and selling costs. If you're comfortable with the estimated profits, and you have a reliable expected selling price, then it's probably a good deal. Hopefully that helps a little.

How long do these events usually last?

Post: Selling your 1rst property

Taylor NunnPosted
  • Zion, IL
  • Posts 60
  • Votes 35

After taking initiative, landing the deal, and successfully completing renovations, how can you be sure your property is going to sell?

Post: If you started all over again, what would you do differently?

Taylor NunnPosted
  • Zion, IL
  • Posts 60
  • Votes 35

I've come across a lot of different stories on Bigger Pockets, and there are people who come from all different types of backgrounds. Everyone has had a different starting point. If you were young again, where would you start and what would you do differently? Is there anything you'd avoid right away, or something in particular you wish you started doing earlier?

I'm very new and don't know much of anything, but @AaronVaughn might be able to help!

Post: Real Estate license: Good/Bad? Worth it?

Taylor NunnPosted
  • Zion, IL
  • Posts 60
  • Votes 35

Great insight, thank you for the response.

Post: New member Introduction: Tay Nunn

Taylor NunnPosted
  • Zion, IL
  • Posts 60
  • Votes 35

Hello, my name is Taylor Nunn and investing in real estate has been an interest of mine since a young age while dominating everybody I could in Monopoly. I recently started listening to the bigger pockets podcast early this week and this is exactly the type of community I've been looking for.

I know absolutely nothing about real estate, but have a passion for learning and taking on new challenges. Bigger pockets has already allowed me to really get a sense of direction on how to get started. I am so grateful to come across a group of people like yourselves. 

I am in the Chicago area and will start becoming more active on the forums. Hope to work with you soon!

Post: Real Estate license: Good/Bad? Worth it?

Taylor NunnPosted
  • Zion, IL
  • Posts 60
  • Votes 35

Before investing, is it beneficial to obtain your real estate license? If so, why? And if not, how do you avoid the costs of going through someone or an agency?