How did it impact your deal flow, especially when time was a factor?

They may seem attractive on a spreadsheet if you are chasing cash flow, but the fundamentals are not as strong and these properties are  disproportionately impacted by capex and operating costs.

I can tell you that no matter the price, this is not a deal for you if you have never owned or upgraded a home or multifamily before.If you have full occupancy and "the windows, roof, electricals, plumbing systems, and gas lines all need major upgrade to bring the property up to date" that means you have bargain rent and enormous capital expenditures.

To create impact for myself but also for others.Some would say that I am awfully generous.

To me, this is a cost that won't "add value" to your BRRRR, so I would more strongly consider how much it might impact your ability to rent the unit/house.

Second, why would wholesaler have to make such enormous efforts and struggle to find a buyer if the deal was a TRUE wholesale deal and not some junk property peddled for retail price?

It’s also important to be mindful of local regulations and how they impact MTRs, as Cleveland’s neighborhoods can have different rental rules and demand.Let me know if you need any more specific details about Cleveland’s MTR market!

Assembly Bill 1771, also known as the California Housing Speculation Act, aims to change real estate tax policy to discourage investors from quickly reselling properties like single-family homes.Under the proposed bill, an additional 25% tax would be imposed on the gain from the sale of a qualified asset (including homes) within three years of the previous sale.The tax reduction is dependent on the number of years passed since the initial purchase of the qualified asset, ranging from a 20% reduction for sales occurring between 3.01 to 4 years to a 100% reduction for sales occurring more than seven years after the initial purchase.The revenues generated by this tax increase would be deposited into the Speculation Recapture Community Reinvestment Fund, which aims to support affordable housing, local governments, schools, and infrastructure projects.The bill is introduced by Assembly Member Ward, and the proposed tax changes would take effect from January 1, 2023.Assembly Member Ward argues that short-term investors in the market, including fix and flip investors, contribute to rising housing prices, limiting opportunities for Californians to purchase homes.While the bill may discourage short-term speculative transactions, it is worth noting that California's tax laws still provide certain advantages for investors, including unlimited tax write-offs and depreciation benefits.The bill is subject to legislative approval, and Assembly Member Ward will speak publicly about the bill at the San Diego County Administration Center on a specified date.Please note that this is a simplified summary of the bill and its potential impact on fix and flip investors.

Insurance rates in Florida have been impacted by back-to-back hurricanes, but from what I've seen on the ground, the bigger issue stems from something deeper.

I had one particular vendor with high standards that would exaggerate anything he found.My rule of thumb: people can live how they want to live as long as they are not 1. damaging the property2. living in filth that attracts pests3. impacting the neighbors (e.g. odors, junk detracting from the neighborhood, etc)4. creating an unsafe situation (e.g. hoarding and rescue workers can't access the home)When I visit a property, I document any issues and talk to the tenant.