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9 July 2024 | 28 replies
IT'S CALLED NEGOTIATING 3) FOLLOW MY EXAMPLE VERBATIM AND YOU WILL PROBABLY NOT EVEN LOOK AT A FSBO AGAINEXAMPLE: YOU FIND A PROPERTY THAT CANNOT BE FINANCED BY FHA, NEEDS WORK, US VACANT AND IS BEING SOLD "AS IS" AS WELL AS PRICE IS PER SQFT IS LESS THAN THE MEDIAN PRICE YOU FOUND.IN THIS EXAMPLE YOU FOUND A PROPERTY FOR $100,000 YOU RUN IT THROUGH A QUICK AND DIRTY COMP SEARCH (IF YOU DON'T HAVE MLS- USE BIGGER POCKETS CALCULATOR FOR ARV (IT'S PRETTY ACCURATE AND NOT TOO FAR OFF) - JUST DON'T USE ZILLOW OR TRULIA OR EVEN REDFINS- USE BIGGER POCKETS ARV CALC AND/OR THIS SITE THAT ALSO HAS A FREE ARV CALCULATOR CALL REIKIT--- I NOTICED THAT EITHER TWO SITES HAVE ARV VERY SIMILAR AND NOT TOO FAR OFF FROM THE MLS--- WAY MORE REALISTIC THAN ZILLOW, TRULIA ETC INFLATED ARV'S!!!!
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8 July 2024 | 8 replies
.- Set realistic timelines: Account for your full-time jobs when planning project schedules.- Budget carefully: Include a contingency fund for unexpected issues.- Focus on high-ROI improvements: Prioritize renovations that add the most value.- Document everything: Keep detailed records of expenses, work completed, and agreements.- Consider liability protection: Look into forming an LLC or other business entity.Starting with cash is a smart move to minimize risk and learn the process.
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8 July 2024 | 13 replies
Setup a call w/ them through the marketplace and have a convo w/ them, ask them questions, create a realistic budget and expectations for the first year, and commit to sticking it out so the SEO has time to build momentum.
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6 July 2024 | 5 replies
Realistic pricing strategies are becoming more important.- Consider holding periods: With a potentially slower market, be prepared for slightly longer holding periods between purchase and sale.- Target desirable areas: Research neighborhoods with strong fundamentals, good schools, and amenities that attract buyers.- Stay informed: Keep a close eye on market trends, interest rates, and local economic factors that could impact your investmentsI also lend on fix and flip projects so let me know if you're looking to get an additional quote for your next flip!
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7 July 2024 | 27 replies
This is an exception.Theoretically you can have unlimite properties using VA loan as long as your benefit is not used up, but realistically no way you are going to keep on getting an exception.
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8 July 2024 | 21 replies
You should run the numbers to see if they work for you, but you also need to be realistic about the price.
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5 July 2024 | 2 replies
As for websites out there, the best is probably Realist.
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5 July 2024 | 10 replies
You have to set realistic expectations.
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6 July 2024 | 7 replies
If your rent would be somewhere closer to 1% of the replacement value, the long term capex picture would look differently, but that's obviously not realistic in the Walker Square area.I know this is not what you want to hear, but case in point at one of our workshops I had an investor who has owned a sizeable D-class portfolio for almost 40 years, self-managed, self-repaired, re-leveraged to pay for capex - and he said he has basically nothing to show for in terms of retirement, so he has to keep working it.Food for thought.
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4 July 2024 | 8 replies
I am realistic about the market when making offers and do not just low-ball everything unless it is warranted.