Live & Flip

Pins and Needles

Quick update on our future home bid. The property is a short sale that requires both the sellers approval to move forward. Unfortunately the short sale is due to a divorce and job loss. The sellers are difficult to get together to make a decision. I have no news at the moment, which has me on pins and needles. No news in Real Estate is generally bad news. In this case we have been in touch with the selling agent. The sellers agreed to make a decision tonight. My buyers agent and I had to...

New Home, Maybe!

Gonna make a bid tonight on a possible new home. Its a SS that needs around 30k worth of work. Its in a southern neighborhood of my farm. Has everything were looking for. No other bids yet and I'm going to offer 12k less than asking. The BPO will take place on Thursday. If we happen to get that property, my current one will become our third rental. My current property will rent for $1000/mo. The mortgage will be $585. I'm looking at positive cash flow of $50-$100/mo. My combined cas...

3 Looks 1 bid

I looked at three houses on Thursday. 2 were fairly new to the market and needed substantial work. 1 needs only cosmetic repairs. The two new properties had such a flurry of offers above what I was asking, it wasn't even worth pursing. For example one property needed 40k worth of work in my estimate. ARV would be 135-140k depending on results of this funky addition off the back. My offer price would have been 47.7k. They had 11 bids some as high as the mid 70k range. Makes me wonder...

You have a map, now drive!

Had a great coaching call tonight. My coach more or less helped me get things in gear. He noticed I'm getting a ton done. I have worked to get access to properties via my Realtor. I will be working with him so I prep and send out the offers. Ive zeroed in and looked at properties on the mls. I have 40+ letters in the mail to distressed properties. Yet in all that effort I have managed to find my car, check the tire pressure, check the oil, the mirrors, check the gas and start the car. I ...