Andrew

Flipping houses in Georgia

[Andrew @94re1]

@DrTechNC @gunenthusiast01 @gundosedaily It was my first shotgun and I thought I had to be doing something wrong, but no

[Andrew @94re1]

Every month I receive dozens of texts, emails, and calls from wholesalers with the same general message- "We have a property in (location), are you interested?" I am never going to respond to these. I don't have the time or care to request that information from you.

However, in the rare occurrences when the address, pics, and price are provided in the initial message, I will usually take a quick look.

If you are a wholesaler who does outbound marketing to find buyers, include the address, pics, and price in your first contact. You will get way more eyes on your deals and your conversion rates will go up significantly.

[Andrew @94re1]

@realestatedude0 It’s rare but sometimes NW misprices- and jumping on those instances immediately is where the only opportunity is with them. Just closed on one from them in Macon- bought it for 99k, putting 20-25k into it, gonna list for 219k. Think worst case scenario is probably 190k

[Andrew @94re1]

@Kristof_Poland

[Andrew @94re1]

@ReeQualz @THATBOYMMAGURU You’ve gotta be one nasty mf to crack that

[Andrew @94re1]

Outcome: As with a lot of renos, you often go into them planning only to do x, y, and z, but end up doing a lot more. Sometimes it's due to things you weren't expecting, but other times it's "mission creep".

For example- we do basic cosmetics, but now the kitchen really stands out as being outdated. So we redo the kitchen, but now the bathrooms stick out like a sore thumb. Ok, so at this point we might as well redo the bathrooms too. Before you know it you've done a full reno top to bottom.

This isn't always a bad thing, as in some cases doing the full reno does make the most sense. But it's something to keep in mind on the front end when you're underwriting a deal with the plan to do a partial reno/cosmetics only.

Regardless, that's what happened here. We ended up doing a full reno, new roof and everything. Opened up the kitchen/floor plan as well. Spent 59k. Listed it for 349k, dropped it to 339k after a month, couple weeks later took an offer for 335k w/ 7.5k in seller paid closing costs. Hold time 159 days, net profit 58k.

[Andrew @94re1]

Villa Rica, GA. Bought for 184k. 1998 build, 1,300 sqft, 2.4 acre lot.

There was a lot to like about this property- private lot, good curb appeal, had an attached 2 car garage and a detached 1 car garage.

The house was outdated, but not in terrible shape. I figured we could put 25k into flooring, paint, new HVAC (it wasn't working), and misc light cosmetics and get 270k +/- for it.

[Andrew @94re1]

@blockhead4000 Favorite song of all time. Always a vibe

[Andrew @94re1]

39k this year, on 152k pp and 23k rehab. Only rehabbed about 35% of them though, on the rehabs our average profit is 67k on 195k pp and 51k rehab. As-is flips are at 24k profit, 128k pp, 2k rehab (trash outs, deep cleans, closing repairs). It’s been my best year for avg spread, although it hasn’t really felt like it and it’s largely due to a handful of home runs. Quantity is down a bit ytd compared to prior years

[Andrew @94re1]

@Jacob_Naviaux House on 17 acres in Spalding county, got it for 210k put ~40k into it. Listed for 419k Monday, just went u/c at list with no closing costs. Would be a record setter for us if it goes thru, 140-150k

[Andrew @94re1]

@Osint613 You couldn’t write a script like this. Imagine this scenario 20 years ago. Hilarious

[Andrew @94re1]

@brianlove08 @JoshuaSteinman Geico

[Andrew @94re1]

And they just voted to increase property taxes 40%+ last night. Lived in Ashford Park 2023 thru earlier this year, it’s definitely a nice family oriented area, but yeah the prices people pay in there are pretty insane especially with the small lot sizes. Know a builder who’s done multiple 3m+ builds on .3-.4 acre lots in there, he pays 800-900k for the lots alone

[Andrew @94re1]

@PaperBozz That’s pretty weird, I only requested 50 and got 14

[Andrew @94re1]

@N8RealEstate Of course the buyer’s agent is going to be upset at you- the buyer is upset at them, so they try to shift the blame onto you. It’s the buyer agent’s fault not yours. No I absolutely would not have paid

[Andrew @94re1]

@BrenzGarage Good to hear- picked up one in Nov for 185k. 10k miles, VF800, KW V4 w/ HLS, Akrapovic exhaust. Such a great car and personally I like the 2017-2018 body style better than the 2020+

[Andrew @94re1]

@Yeah_Dave You put it on my radar, thanks man!

[Andrew @94re1]

@HighyieldHarry @BillAckman Doing dd on Updog