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Wholesaling / Re: Weeding out cash buyers who aren't serious
« Last post by OHIOREI on October 23, 2016, 03:09:09 PM »
Being first on a property is everything. Never stop prospecting.....
New Member Introductions / Re: Hello from Dayton, Ohio
« Last post by Brandon on October 23, 2016, 02:39:47 PM »
Welcome Doug! Nice to see you joined up. I hope you find this forum to be a useful resource for your knowledge as well as your business. I see you are already spreading the knowledge!
Flipping / Re: Is it worth it?
« Last post by OHIOREI on October 23, 2016, 02:36:11 PM »
I personally think flipping is the only way to invest in single family homes. The only property I consider holding is apartments. There is too much money to be made flipping if it is done properly. Other than bad luck or timing, the only real ways to lose money on a rehab is buying it for too much, underestimating repairs needed or buying in an area that doesn't have a good number of unit sold per year with too high of days on market
Flipping / Re: Is it not a better option to rent instead of flip?
« Last post by OHIOREI on October 23, 2016, 02:32:56 PM »
In my personal opinion, I would flip it. I am holding no rentals at all, and as long as the market stays up, I won't be changing that. Granted a rental does bring in cash flow, but I look at it this way. Around my city, an average rental in a good neighborhood that needs rehabbed may cost about 80K. For a 1400 sq ft home a cheaper rehab may be around 20K. So not including holding costs, you are in 100k for a house that will rent for about 1000 a month. After expenses (mortgage, and other costs) it will flow about 200 per month. I'd rather buy for 80, put in 20, and sell for 145. Whole process takes me about 2 months.
Wholesaling / Re: Weeding out cash buyers who aren't serious
« Last post by Brandon on October 23, 2016, 02:30:22 PM »
The trick is to be the first on the scene. It is one of the main reasons why I still answer the phone after hours if I am available rather than letting it to go voicemail or a message service. Talking to a professional quickly is what these motivated sellers are after. I want to be first.
Flipping / Re: High end vs low end rehab materials and the markets that support them
« Last post by OHIOREI on October 23, 2016, 02:25:13 PM »
I base the type of rehab materials used on a project off of the area. Avg sale value of that city or zip code versus the larger area. The higher end houses get top notch materials and no stone left unturned. The avg or lower end houses may get the interior doors painted rather than replaced. Also on an avg to lower end house the kitchen cabinets may just get painted, and just a new backsplash and counter tops.
Wholesaling / Re: Weeding out cash buyers who aren't serious
« Last post by OHIOREI on October 23, 2016, 02:21:26 PM »
I will renew this thread. I have also had the same issue in the dayton area. Every time there is a seminar or get rich quick class within 50 miles of here, tons of signs pop up, and online dummy ads. I call every one of these because I see other investors as potential partners, rather than competition. Less than 10 percent will answer or ever call back and the ones who do will talk a big game and never show interest in properties regardless of how good of a deal it is. While I don't wholesale very often, I try to get any property under contract that shows promise, but the same 3 or 4 buyers get them every time.
New Member Introductions / Hello from Dayton, Ohio
« Last post by OHIOREI on October 23, 2016, 01:55:02 PM »
My name is Doug Murphy and I'm seasoned in Real Estate . I buy/rehab/sell/wholesale anything and everything  including Commercial units, apartments (no limit on size or price), sfr, in some cases even vacant land. I'm looking mainly in the dayton ohio area and suburbs. I prefer suburbs only for rehabs. I can buy any and all properties that fit the locations I work in as long as the numbers work. Even if I pass on it, I have buyers who may want it. Looking forward to interacting with the group

New Member Introductions / Re: Nationwide True Credit Repair and Real Estate Investor
« Last post by Brandon on October 16, 2016, 12:38:35 PM »
Hey, great to see you followed my advice! Welcome to the forum man.
New Member Introductions / Re: Whats up from the DMV... Make sure you Vote lol
« Last post by Moemoe26 on October 14, 2016, 07:26:40 PM »
I'm an investor in the DMV area. My partner and I buy homes to rehab and prefer a wholesaler that knows comps and understands we have a profit goal
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