All Forum Posts by: Zackary C Dunn

@Joseph Crunkilton

I would start networking immediately. Flipping is all about knowing accurate numbers. As an example I’m moving into a new market and contacted a realtor active in that area. I give them an example property off the mls, I calculate repair cost and break it down for them, I calculate holding cost, I then calculate arv, I state any issues I feel we may have on that project then I ask their opinion. I do this a couple times to make sure I know my numbers for the area and to show the other person that you are a professional. I would read and market for deals while doing this. As far as your first deal no one is ever ready just know if you find a good deal and can network everything else will fall in place. Hope this helps and good luck.

@Scott Littlefield

If zoning requirements allow I would get rid of the trailer and rent out the garage to someone. I rent a 2,400 sqft shop for $700 a month and rent the back half which is 1,000 sqft for $500 with no septic or plumbing. Always an option or even fence in the lot and use it for rv/ boat storage.

@Luke Simonetti

I always make verbal offers on site. I come with a tape measure, my repair price list (I’m a contractor so it helps), and a copy of at least 5 comps (preferably 1 in a state of disrepair, 1 in fair but outdated condition, and 1 fully remodeled). I then walk through the house with them finding out why they are selling. At the end of the tour I first go through what repairs would be needed to bring the highest market value and the price of such repairs, then I go over closing costs, realtor fees, timelines for repairs and time on market. I then show them what they could expect to clear after doing the repairs themselves and paying closing costs. I then show them what I can pay them and explain all costs associated with me processing a deal. I then tell them plainly you can come out of pocket $x amount wait 2-4 months and make an extra $x amount or I could give you $x in 21 days or less it’s whatever you feel works best for you. We then sign the contract right then. hope this helps as it has helped me.

@Evan Chesterman

I have used our tax delinquent list in NC quite a bit and these are some of the things I look for. I found out in Onslow county they usually foreclose when back taxes are $10,000 or more for residential properties. I search $10,000 to $35,000 to stay in the residential categories. I then filter that to see inherited property’s. I find this to be the highest percentage of call backs on my mailers

@Jeff Sims I drive a 2018 F350 Limited that’s lifted and says “We Buy Houses” all over it. I agree with keeping minimum payments and investing in things that pay me. If aggressively marketing a new flashy vehicle definitely gets more attention. I have got 3 deals off my truck in a year and get leads everyday. Also wrote $28,000 off my taxes on the standard mileage deduction. When I drove my 2008 around a year ago I had a lot of questions on how I was going to pay cash so fast. Since driving the

new truck I have never been asked if I was good for the close. I see both sides but if aggressive marketing and revenue is your goal I think newer and flashy is better

@Edward Kanive

Although the work looks good and looks professionally done I would venture to say at $20 an hour he is not a licensed contractor. Although I’m not in your area most places would require a building permit for a lot of that work and possibly even a structural engineer to sign off on the plans. Can’t say for sure due to me not knowing your local codes so if you have these avenues covered I apologize. I have just seen this happen to numerous customers and when the code enforcement office finds out everything has to be removed and redone to code with all the proper inspections/ approvals.

@CJ S.

Keep it!!!!!!!

Use it as reserves for cash flow if you are planning to go at this thing full time. For example if you are after flips you can find 100% funding for acquisition and repair if you can’t message me and I’ll show you how I’ve done it even when starting out. If using a contractor you definitely want the reserve if anything comes up during the repairs that was not used in your initial repair analysis.

Good ideas and well constructed business plans all the time because of one thing... Cash flow!

Good Luck and if you need anything feel free to reach out.

Hey Everyone,

Im Zack with Dunn Property Acquisitions & Renovations and would like to invite you all to meet and network August 21st at the Ale House off Western.

I have been a local contractor and flipper in the area for about a year. When I put these together before there has been some great work that followed. From talking to people in and around this area it seems like alot of people are interested in real estate and are trying or would like to start. Most of the ones who have tried or are trying are struggling to figure it out or dont know how to scale. By gathering and putting all our experience from agents, contractors, wholesalers, flippers, lenders, etc. everyone will benefit. No gurus, no gimmicks just truly networking and building trusting partnerships.

@Tim Henderson

The best way for you to do it is find a contractor that also does flips. I’m more than happy to go out with other investors because for me I have first dibs on the renovation bid with my gross profit margin of 30%-50% or if the renovation cost is to high for you I might be able to make the numbers work for me or we both benefit in it as a jv deal.

Great I got it thank you.