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All Forum Posts by: Winston Spence

Winston Spence has started 18 posts and replied 111 times.

Post: homes4sale101.com is Ready!

Winston SpencePosted
  • Real Estate Investor
  • Waterbury, CT
  • Posts 117
  • Votes 19

@Account Closed 

I see what your trying to do with the website. I would strongly consider using a service called fiverr. All you do is pay someone $5 to redesign your whole website. I had trouble seeing pictures of the properties. Is that by design? Putting a few pictures will make your site look more creditable rather than just the description.

Good to see the enthusiasm!

Best of luck

Post: Investing in Dayton

Winston SpencePosted
  • Real Estate Investor
  • Waterbury, CT
  • Posts 117
  • Votes 19

@Darrin Carey and @Christina Carey 

I am considering buying some SFH in the Dayton area. I'm looking at the basic 3/2 property that can rent for around $850 at least. What I like best about Dayton is the low price points. What areas/zip codes are best to invest in? Thanks

Post: Simultaneous Closing and Fannie Mae Guidelines

Winston SpencePosted
  • Real Estate Investor
  • Waterbury, CT
  • Posts 117
  • Votes 19

@Brandon Sturgill 

From what I know if you're wholesaling a Fannie Mae property, you can't resell more than 120% of selling price within 90 days of purchase.

Ex. List Price- $100K, under contract for $80K, cant not sell for more than $96K.

Post: FLIP: 3BR/2BA Colonial in Ledyard, CT; ARV 320k/Rehab 55k/Ask 175k

Winston SpencePosted
  • Real Estate Investor
  • Waterbury, CT
  • Posts 117
  • Votes 19

@Karin Crompton 

Alright, would you be able to show the property on either Tuesday or Wednesday afternoon? And whats the address? Thanks

Post: FLIP: 3BR/2BA Colonial in Ledyard, CT; ARV 320k/Rehab 55k/Ask 175k

Winston SpencePosted
  • Real Estate Investor
  • Waterbury, CT
  • Posts 117
  • Votes 19

@Karin Crompton 

Is the property still available?

Post: Wholesaling - Buyers! They don't always have to be Investors.

Winston SpencePosted
  • Real Estate Investor
  • Waterbury, CT
  • Posts 117
  • Votes 19

@Israel Cantu 

Sounds like a good strategy! How do you find your contractors and what price range do you stay in?

Post: Deal Help - Are My Numbers Good?

Winston SpencePosted
  • Real Estate Investor
  • Waterbury, CT
  • Posts 117
  • Votes 19

@David Carrington 

Good to see another Connecticut wholesaler hustling.

I have done a few deals, but I'm still pretty raw. What I learned from looking at countless properties is to examine the neighborhood. I'm not too familiar with Derby so you'll have to research it. But what you need to do is see what properties are around the house you have under contract. Are they SFH? Multi? If its multi then that could be a reason why rehabbers haven't purchased your property. Another thing to do is to research the last sold price on the home, you can do this on Zillow, use that price as an idea of what the home can be sold for along with any comps you already have.

Another note: Be careful when people say they are cash buyers, especially in CT.  They will play the role until you have a property under contract, and then they will start getting shaky. Make sure your buyers are proven and are doing deals.

Best of luck!  

Post: CT Meet-Up, Wed. Aug. 27 @7pm in Fairfield

Winston SpencePosted
  • Real Estate Investor
  • Waterbury, CT
  • Posts 117
  • Votes 19

Thanks, I missed the previous meet-up and I hope I can make it to this one.

Post: Getting to $100M networth

Winston SpencePosted
  • Real Estate Investor
  • Waterbury, CT
  • Posts 117
  • Votes 19

@Alex Silang 

Preparedness + Opportunity = Luck!

Best of luck in your future

Post: Member Introduction

Winston SpencePosted
  • Real Estate Investor
  • Waterbury, CT
  • Posts 117
  • Votes 19

@Demetria Hall 

Welcome to BiggerPockets!

Congrats on your real estate business, wish you the best in the future