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Apparently, someone is using a formula similar as us. Buy flips at 50-60% ARV.
If anyone learns it from the gurus and buy at 70% ARV, good luck. Reality is different, and buying at 50-60% ARV is possible.
Last week I heard the Fed is absolutely going to be forced to cut rates soon if only because that insufferable cunt Yellen in the Treasury is flooding the Fed with bonds in order to force them to cut rates to fake a better economy for Biden in an election year.
Labor cost is the same for us. Just upgrade the materials, and the ARV will go through the roof. No reason to cheap out like the Midwest.
Eman says
Labor cost is the same for us. Just upgrade the materials, and the ARV will go through the roof. No reason to cheap out like the Midwest.
Nope. Labor is more. Materials are more. The midwest isn't cheap though either. I've been in enough CA properties on vacation. They're generally trash. You getting defensive as a flipper. Why? I know construction. My family has been in it for decades. My uncle has 3 gates to get to his home in Scottsdale. The tweet you posted is a trash flip. I've seen it. I know it.
Shit on me all you want. I know a shit flip when I see it. These are facts and not opinion. What you posted is pure trash.
I shared my flips on here with links for the readers to see. What did you share with links? It’s all your opinions, and we know what people say about opinions.
Never met a flipper that didn't cut a corner on labor, construction or materials. 100% of the time. Not even debatable and you know it. Just own it. You put lipstick on a pig and screwed someone. That's the game. I'm not an idiot.
WookieMan says
Never met a flipper that didn't cut a corner on labor, construction or materials. 100% of the time. Not even debatable and you know it. Just own it. You put lipstick on a pig and screwed someone. That's the game. I'm not an idiot.
So true. I met a victim who fell for a shack of ~1.6m that the flipper paid ~1.1m few months back!
I've easily been on 500 inspections, they're cons
The second biggest economy in the world is not doing well. What will cause the next recession for the US, or even the world?
WookieMan says
I've easily been on 500 inspections, they're cons
Explain please. What should a home buyer know about inspections? Thanks for sharing your wisdom, I am learning.
Labor cost is the same for us. Just upgrade the materials, and the ARV will go through the roof.
WookieMan says
I've easily been on 500 inspections, they're cons
Explain please. What should a home buyer know about inspections? Thanks for sharing your wisdom, I am learning.
Got this in my inbox today. Seeing this stuff from the Midwest makes me want to jump out of my couch and fly there to buy. Built in 2000 with 50,400sf finished office space with 464 parking spaces on 16 acres of land for $1.25M.
The median home price in San Jose is $1.6M on a 6,000sf lot. 🤯
What you heard is crap.
Got this in my inbox today. Seeing this stuff from the Midwest makes me want to jump out of my couch and fly there to buy. Built in 2000 with 50,400sf finished office space with 464 parking spaces on 16 acres of land for $1.25M.
The median home price in San Jose is $1.6M on a 6,000sf lot. 🤯
Painted Post NY is the Southern Tier. For the most part, it is dirt fucking poor rustbelt. The Fortune 500 company is Corning - that's it, period.
Binghampton area, one of the saddest places I ever visited.
Walton County, FL now getting on 7-8 month supply.
Outside of oxygen you breath, everything is meant to extract money from you.
Across the Panama City metro area, median home prices fell to $447,375, slightly lower than a month earlier. The median home had 1,404 square feet, at a list price of $343 per square foot.
One can find new shacks similar or cheaper price/sft in CA away from dark blue metros.
Yep. Ran a search for entire state of California with this criteria: detached home, no more than 3 years old, +2 bedrm/+2 bath
I guess 65-75% ARV works for her. I believe she flips with investors’ money and split the profit. This way, no holding cost on borrowing hard money and no paying points. Many ways to skin a cat.
I guess 65-75% ARV works for her. I believe she flips with investors’ money and split the profit. This way, no holding cost on borrowing hard money and no paying points. Many ways to skin a cat.
Eman says
I guess 65-75% ARV works for her. I believe she flips with investors’ money and split the profit. This way, no holding cost on borrowing hard money and no paying points. Many ways to skin a cat.
Some of those maffs look hard. How did she make 1,000,000 if she has to split it?
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.