All Forum Posts by: Tyron McDaniel

It's not Too GOOD to be true but it is an AMAZING thought to know that there are literally BILLIONS of dollars NOT in the stock market that could be deployed! It would be a great investment for you to find a IRA custodian in your area that allows people to invest in real estate. I am sure there are providers in the resources section here on BP. You will find a huge source of lenders there.

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I have seen deals like this go both ways so you have to be fairly intuitive or investigative about what's to happen in the area. Does it require what I call "Trailblazer Builders" - is this the ONLY project of it's kind in the area, if so, pass on the deal. If there are other developments in the area or close, then you may have something. 

I most likely wouldn't do this deal because for the potential risk you are taking on you could find other deals more suitable, especially if you buying off the MLS.

Matt 

I definitely GET what you are wanting to do and it's funny to me the ambiguity of certain aspects of estimating costs but I just a property that in scope sounds like what you are doing except my property was about 550 sq. ft. larger and cost about $24k but I did higher end finishes (granite & travertine), I replaced the roof and added an a/c unit as well. Subtract those out and I am right where you are on your deal.

Congrats! I couldn't imagine trying to project my rehab schedule based on the type of weather you guys have been having up North.. Heck, we get salty here when it rains for a few days and we get throwed off!

I'm curious to know what your budget is for what you have described on this property as it sounds in scope, very similar to a project I am reviewing at this time, in Houston albeit. 

 Pretty Cool! Hey Andrew my wife saw you in Houston last year and LOVED your talk; we been listen to the Creating Capital series as of late and you would be GLAD to know I used your rehab estimating worksheets for a property we just contracted today and we will be doing a Designer Rehab and not an Investor Rehab on this lovely Victorian home.

These look really nice and are a bargain based on the price and rehab numbers! Great job, and thanks for updating the diary with your progress!

Great looking project I would be interested in knowing about your budget and costs on this one... (once done albeit)

 Hey Keith was wondering how things have been coming for you?

Way to go guys on those mailings... It's ALWAYS exciting answering the phone right after mailing out some letters. Just today I got a call from a seller from some letters I mailed out days ago!