Comments on: Back to Making Offers http://www.123flip.com/back-to-making-offers Education for the Serious House Flipper Fri, 10 Feb 2012 04:32:24 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Rm89004 http://www.123flip.com/back-to-making-offers/comment-page-1#comment-358 Rm89004 Tue, 30 Sep 2008 15:49:28 +0000 http://www.123flip.com/back-to-making-offers#comment-358 Easy! I know that there are a lot of attractive deals out there. But, I think that you should take it SLOW. As it stands now, you have a lot of expenses and no income. I think it is time to institute some rules about selling a certain number of properties before purchasing others. Maybe you should consider the following property ratios: Sold: 1 Ready (Selling/On the Market): 2 In Progress (Rehabbing): 1 Prospects (Buying/Offers): 3 I think it is best to slow down until you have proven that you can move these properties in this market. I have seen the numbers on the individual properties and it has been well thought out and detailed. Also, I have seen the results of your work. I think you have done and excellent job with the rehabs. Now, I think the focus should be on moving the product (selling). What is needed in my opinion is an overall snapshot of the portfolio of properties in there varies stages and carrying cost associated with each property. What I am trying to gather is what is the optimal or reasonable about of properties that you should carry in this market? I am certain that you can carry several more properties on the books. But, the question is should you take the risk until you have sold a couple and have proven that you are in the right market with the right conditions (buyers who are willing, ready, and able — can get financing in this market)? JScott, I am not trying to tell you how to run your business. In fact, I admire your courage to start a real estate business in this market. What I am trying to do is voice some concerns about the ability to sell the properties, the speed at which the properties can be sold, and the outgoing expenses with carry to many properties at once. I have seen investors crash and burn from carry to many properties on the books at once. Good luck! Easy! I know that there are a lot of attractive deals out there. But, I think that you should take it SLOW. As it stands now, you have a lot of expenses and no income. I think it is time to institute some rules about selling a certain number of properties before purchasing others. Maybe you should consider the following property ratios:

Sold: 1

Ready (Selling/On the Market): 2

In Progress (Rehabbing): 1

Prospects (Buying/Offers): 3

I think it is best to slow down until you have proven that you can move these properties in this market. I have seen the numbers on the individual properties and it has been well thought out and detailed. Also, I have seen the results of your work. I think you have done and excellent job with the rehabs. Now, I think the focus should be on moving the product (selling).

What is needed in my opinion is an overall snapshot of the portfolio of properties in there varies stages and carrying cost associated with each property. What I am trying to gather is what is the optimal or reasonable about of properties that you should carry in this market? I am certain that you can carry several more properties on the books. But, the question is should you take the risk until you have sold a couple and have proven that you are in the right market with the right conditions (buyers who are willing, ready, and able — can get financing in this market)?

JScott, I am not trying to tell you how to run your business. In fact, I admire your courage to start a real estate business in this market. What I am trying to do is voice some concerns about the ability to sell the properties, the speed at which the properties can be sold, and the outgoing expenses with carry to many properties at once.

I have seen investors crash and burn from carry to many properties on the books at once.

Good luck!

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