Let's try and support people who have been scammed with good info and trustworthy referrals because it's a horrible feeling, and ripping people off is truly despicable.

It's a rip off!!!

Finding a good contractor is the challenge and PM companies are ripping off.

This new construct there is a listing and it is pending to build until they find the right buyer so everything is pretty much lined up for me i just have to go in and buy. and crazy to say but some of the time atleast right now new construct is cheaper than existing buys. i am thinking to just rip the bandaid off with this first deal and go from there. 100k a month is definitely my goal and i will figure out a way to get there which definitely wont be from new construction everytime. i can save money fast considering the frugal life i live and amount i work. i am currently spending a lot of time trying to find beaten up buildings whether that’s me driving around or on mls, but alaska high cost of labor makes it hard to pencil out any BRRRRs but it definitely is the best way of this game so i will continue trying to find something 

But you are talking the roof will get ripped off, etc.  

You wouldn’t believe how many “upgrades” we ripped out by the next buyer. 

Rip that off, treat the wall with mold killer, dry out, then replace the window trim with Azek (or similar) and caulk with 100% silicone.

They overpaid, got ripped off by a contractor and worse, bought in absolute war zones.  

A LOT of distrress is leading to mergers and firings, in just the last few weeks, this happened: (Big credit to @NewsLambert)Lower to acquire Universal Lending retail and wholesale operations (11/1/23)Trustar Mortgage acquired by Archer Mortgage, LLC (11/1/23)People’s Bank of Commerce to exit residential mortgage lending (10/27/23)BMO Bank cutting 228 jobs in Northern California (10/25/23)Homestar Financial to wind down operations (10/25/23)City National Bank layoffs in Los Angeles total 71 (10/23/23)Hometown Lenders layoffs (10/12/23)First Savings Bank to lay off 135 mortgage workers (10/4/23)Wesley Mortgage absorbs competitor Colten Mortgage (10/4/23)Cenlar to lay off 85 in Ewing, NJ (10/2/23)Rithm Capital to acquire Computershare Mortgage Services Inc. (10/2/23)Wells Fargo cut 525 jobs in South Carolina (9/28/23)Better Mortgage lays off additional employees (9/22/23)The Graystone Company has acquired Direct Mortgage (9/13/23)Flyhomes to purchase certain assets of Home Sale Assured (9/13/23)Divvy Homes to cut 95 jobs in San Francisco (9/11/23)Farmers-Merchants Bank to sell three branches to focus on core mortgage business (9/11/23)It goes on…..The mortgage industry is in a starkly deep recession.And RIP refinances, unless you are holding an even higher interest rate loan (like a construction/bridge loan or hard money, or perhaps you just fixed your credit.

We've also gotten a new black-top on Hope Mills Rd, and I've seen a few places where pavements been ripped up for a few days, and then good to go shortly there after.