Comments for Real Estate Investing http://hardmoneybankers.com/real-estate An Uncensored Look at The Real Estate Lifestyle! Sat, 12 May 2012 23:16:55 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on To Wholesale or to Flip: Case Study of an Investment Property by Bill http://hardmoneybankers.com/real-estate/to-wholesale-or-to-flip-case-study-of-an-investment-property/#comment-3471 Bill Sat, 12 May 2012 23:16:55 +0000 http://hardmoneybankers.com/real-estate/?p=2037#comment-3471 I agree, been there & done that. There always are hidden problems & $40K seems too low for repairs. I'd take the Quick 10K. I agree, been there & done that. There always are hidden problems & $40K seems too low for repairs. I’d take the Quick 10K.

]]> Comment on To Wholesale or to Flip: Case Study of an Investment Property by malendaz http://hardmoneybankers.com/real-estate/to-wholesale-or-to-flip-case-study-of-an-investment-property/#comment-3469 malendaz Sat, 12 May 2012 21:49:53 +0000 http://hardmoneybankers.com/real-estate/?p=2037#comment-3469 I would prefer to stick and move. Flipping is one of the best ways of making money in real estate. It's all about doing what you love. I love selling real estate and solving problems. I would prefer to stick and move. Flipping is one of the best ways of making money in real estate. It’s all about doing what you love. I love selling real estate and solving problems.

]]> Comment on To Wholesale or to Flip: Case Study of an Investment Property by Mike G http://hardmoneybankers.com/real-estate/to-wholesale-or-to-flip-case-study-of-an-investment-property/#comment-3467 Mike G Sat, 12 May 2012 14:52:17 +0000 http://hardmoneybankers.com/real-estate/?p=2037#comment-3467 So far it looks like a 6 to 0 vote to wholesale. Let's make it 7 to 0. So far it looks like a 6 to 0 vote to wholesale.
Let’s make it 7 to 0.

]]> Comment on To Wholesale or to Flip: Case Study of an Investment Property by Woody http://hardmoneybankers.com/real-estate/to-wholesale-or-to-flip-case-study-of-an-investment-property/#comment-3455 Woody Fri, 11 May 2012 02:38:17 +0000 http://hardmoneybankers.com/real-estate/?p=2037#comment-3455 Seems to me that 10k now is the best move based on limited information and my assumption that this property is not in close proximity to your home or localized investment "comfort" zone, even though you may sometimes buy/sell property sight unseen (by your own eyes) in far distant locations. The 30k sounds good, however, I would want it closer to 3 months - ALOT closer, preferably even sooner.......GOOD LUCK whichever way you roll with it. I am in a similar position currently, as far as the rehab issues, but my numbers are quite different. Paid 110k (all in) on assignment, needs 20k rehab, comps 165-185k ARV. I am planning to retail it because the prior owners RE agent had over 20 interested parties but none could afford the DP on conventional financing at 155k (original asking price) because of repairs needed. I am sure that I will be able to market this home at nearly full retail when it meets FHA guidelines and the "down" drops to 5% with no additional fix-up needed. Also, FYI, rather than using my business entity ...... this is the 1st property I chose to invest in using my new "Self Controlled IRA LLC" after losing money in 2010-11 and earning less than 3% through March when the IRA consisted of mutual funds and account was controlled by Schwab. Seems to me that 10k now is the best move based on limited information and my assumption that this property is not in close proximity to your home or localized investment “comfort” zone, even though you may sometimes buy/sell property sight unseen (by your own eyes) in far distant locations.

The 30k sounds good, however, I would want it closer to 3 months – ALOT closer, preferably even sooner…….GOOD LUCK whichever way you roll with it.

I am in a similar position currently, as far as the rehab issues, but my numbers are quite different. Paid 110k (all in) on assignment, needs 20k rehab, comps 165-185k ARV.

I am planning to retail it because the prior owners RE agent had over 20 interested parties but none could afford the DP on conventional financing at 155k (original asking price) because of repairs needed. I am sure that I will be able to market this home at nearly full retail when it meets FHA guidelines and the “down” drops to 5% with no additional fix-up needed.

Also, FYI, rather than using my business entity …… this is the 1st property I chose to invest in using my new “Self Controlled IRA LLC” after losing money in 2010-11 and earning less than 3% through March when the IRA consisted of mutual funds and account was controlled by Schwab.

]]> Comment on To Wholesale or to Flip: Case Study of an Investment Property by Riskco Cartel http://hardmoneybankers.com/real-estate/to-wholesale-or-to-flip-case-study-of-an-investment-property/#comment-3452 Riskco Cartel Thu, 10 May 2012 19:39:43 +0000 http://hardmoneybankers.com/real-estate/?p=2037#comment-3452 The basement could be an issue with unforeseen repairs that may kill your budget, wholesale it. Experienced Rehab Investor The basement could be an issue with unforeseen repairs that may kill your budget, wholesale it. Experienced Rehab Investor

]]> Comment on To Wholesale or to Flip: Case Study of an Investment Property by joe http://hardmoneybankers.com/real-estate/to-wholesale-or-to-flip-case-study-of-an-investment-property/#comment-3451 joe Thu, 10 May 2012 19:22:33 +0000 http://hardmoneybankers.com/real-estate/?p=2037#comment-3451 Take the 10 and move on to sweeter pastures. Take the 10 and move on to sweeter pastures.

]]> Comment on To Wholesale or to Flip: Case Study of an Investment Property by Chris Wosnitzer Albatross Property Solutions LLC http://hardmoneybankers.com/real-estate/to-wholesale-or-to-flip-case-study-of-an-investment-property/#comment-3450 Chris Wosnitzer Albatross Property Solutions LLC Thu, 10 May 2012 17:18:12 +0000 http://hardmoneybankers.com/real-estate/?p=2037#comment-3450 Its hard to answer this question completely based on info provided. It depends on if you need to have money on hand for other deals. If you have unlimited funds or enough funds to do the rehab and hold the property for the 6-12 months it takes to sell it I would say Rehab it. As you probably are well aware as soon as you take down walls/paneling do kitchen/bath remodeling you never know what your gonna find. If funds are tight and you have other deals that you need money for then I would wholesale it- $10k for about a half a days work is fine with me. On a personal Note: I have 2 properties that went on the market back in March that I rehabbed, one has been under contract twice- (buyer financing fell through) the other in an over 55 community at the Jersey Shore has had no offers. Based on my research the over 55 had a better chance of selling quicker then the other in Mt Pocono PA that has been under contract almost as long as it has been listed!! You never know with this market "a bird in hand beats two in the bush!! Chris Albatross Property Solutions LLC Your Short Sale Specialist at the Jersey Shore! Its hard to answer this question completely based on info provided. It depends on if you need to have money on hand for other deals.

If you have unlimited funds or enough funds to do the rehab and hold the property for the 6-12 months it takes to sell it I would say Rehab it. As you probably are well aware as soon as you take down walls/paneling do kitchen/bath remodeling you never know what your gonna find.

If funds are tight and you have other deals that you need money for then I would wholesale it- $10k for about a half a days work is fine with me.

On a personal Note:

I have 2 properties that went on the market back in March that I rehabbed, one has been under contract twice- (buyer financing fell through) the other in an over 55 community at the Jersey Shore has had no offers. Based on my research the over 55 had a better chance of selling quicker then the other in Mt Pocono PA that has been under contract almost as long as it has been listed!!

You never know with this market “a bird in hand beats two in the bush!!
Chris
Albatross Property Solutions LLC
Your Short Sale Specialist at the Jersey Shore!

]]> Comment on To Wholesale or to Flip: Case Study of an Investment Property by Cameron http://hardmoneybankers.com/real-estate/to-wholesale-or-to-flip-case-study-of-an-investment-property/#comment-3439 Cameron Wed, 09 May 2012 16:49:31 +0000 http://hardmoneybankers.com/real-estate/?p=2037#comment-3439 I'm a newbie to this so I won't weigh in on whether to wholesale it or not, but what kind of rehab work takes $40K to perform? If you could provide as much detail as possible, it would be GREATLY appreciated. I’m a newbie to this so I won’t weigh in on whether to wholesale it or not, but what kind of rehab work takes $40K to perform? If you could provide as much detail as possible, it would be GREATLY appreciated.

]]> Comment on To Wholesale or to Flip: Case Study of an Investment Property by Josh Weidman http://hardmoneybankers.com/real-estate/to-wholesale-or-to-flip-case-study-of-an-investment-property/#comment-3395 Josh Weidman Sun, 06 May 2012 15:24:12 +0000 http://hardmoneybankers.com/real-estate/?p=2037#comment-3395 Ron, thanks for the feedback. I don't disagree with your analysis. It's always a balancing act between risk and reward. Is the additional exposure an acceptable risk for and additional $20,000? Ron, thanks for the feedback. I don’t disagree with your analysis. It’s always a balancing act between risk and reward. Is the additional exposure an acceptable risk for and additional $20,000?

]]> Comment on To Wholesale or to Flip: Case Study of an Investment Property by ron http://hardmoneybankers.com/real-estate/to-wholesale-or-to-flip-case-study-of-an-investment-property/#comment-3388 ron Sun, 06 May 2012 03:00:31 +0000 http://hardmoneybankers.com/real-estate/?p=2037#comment-3388 this one seems like an ideal wholesale too much rehab for my taste. i like to keep it no more than 20k for flips at least in this market right now. either way seems like a great deal to have under contract. much success this one seems like an ideal wholesale too much rehab for my taste. i like to keep it no more than 20k for flips at least in this market right now. either way seems like a great deal to have under contract. much success

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