I was at a realtors office today telling her I want to rehab houses. She suggested I go to a place called Winter Haven, which is the next county over. She said that I missed my chance to rehab houses in Orlando 4-5 years ago and that if I wanted to stay in Orlando, I should go to Pine Hills.
I asked her about Winter Park (rich area), she said to do that, I would have to turn a 300k house into a 600k house, or tear down and build a $2 million home.
This reinforces my idea of that it’s not only what you do, but where you do it.
I realize I’ve been over-analytical and “paralysis analysis,” but I think I’m onto something here.
Also, I posted advertisements on Craigslist looking for “cheap labor for house flips” and found all kinds of people with skills in all areas looking to work. I can do a lot myself also.
Now, I just need some money to get this going. And I need to make sure I know exactly how to rehab a house. That is, what exactly should the finished product look like. Granite countertops, glass tile walls in the kitchen, ceramic tile floors throughout.
I looked at some local flooring and cabinetry stores and found that Home Depot really is the cheapest in most cases.
Next time you stop at the convenience store to buy a Coke, ask the guy selling it how to make money buying and selling Coke. He’ll have all kinds of advice, most of it will be wrong. Most realtors haven’t got the slightest clue how to make money flipping houses, and the one you talked to is no different.
Are houses not selling in Orlando? If houses are selling, then there’s opportunity to rehab successfully. The idea that you just need to be in the right market is nonsense. You’re in the right market, you’re just choosing to ignore the sound advice here on this forum and listening to fools that know nothing other than how to sell houses on the MLS.
How many rehabs has this realtor done? I’ll be its close to zero…
There are no deals on the MLS. If, in the very very slight chance one show up, people with a lot more liquid cash than you will buy it the second it hits the market.
Yes bandit signs. Everybody here tells you they work. I’ve put out 75 in the last three weekends and got two wholesale deals, and I’m not even targeting wholesale deals.
Like I said before, a friend of mine uses bandit signs in Orlando very successfully.
The point of my initial response is you’re trusting a real estate agent that likely know nothing about creative real estate investing, and who’s probably done zero rehabs. Why would you take their advice?
Okay I have no problem scrapping the real estate agents advice.
I am about to get probably $22 - $24,000 from selling a car. This is actually REAL now.
I don’t want to waste this money on a failed wholesale endeavor. Obviously, I don’t want to waste it rehabbing a house incorrectly, either. I have learned a lot about home repair at the RV park and from my house. I know how an A/c works, how a roof is constructed, a little about plumbing and electrical as well. I don’t know whether I should try to do some work myself, hire my own people for some or just use contractors for everything. I don’t want to pay too much for contractors.
I could contact other wholesalers for off market deals if the MLS is not for me at the moment. How do you suggest finding this first house that I rehab?
But back to bandit signs. I will order another box. I solved my Google Voice problem. I will put 100 up in Sanford, FL. The problem last time was that my signs kept getting stolen.
Do I need to take a ladder with me and put them on poles? I have a step ladder and a 16’ ladder.
As far as placement, in Sanford there are a few main roads. 17-92, SR 46, SR 46A, Sanford Ave., and a few others. Should I put my signs all on these roads at major intersections? Should any of them be in neighborhoods?
If you want to put them on poles: 4-5 foot 2" pvc, three yard ruler, heavy duty rubber band, smack stapler. Rubber band the ruler to the pvc so about 6" is above the pvc, and put the handle of the smack stapler in the pvc. Put your sign between the ruler and pvc pipe. This holds the sign in place so you can get the first staple in. Then smack that bastard about 10 times until it’s sturdy.
I find heavily trafficked roads, preferably with a shopping center or two, and go up one side and down the other putting them at intersections. If I have one at intersection X going southbound, I have one at intersection X going northbound.
Bandit signs is a strategy that needs consistency. Put them out every weekend and you’ll get calls.
That’s not the number one thing for Redstar to remember. He’s got no business chasing shiny objects in ‘best’ neighborhoods, and missing the point of finding D properties in C areas, before he’s got his bandit sign marketing under control.
Thanks Ray, you said it much better than I. Yes indeed do not chase shiny objects in good neighborhoods. Leave alone the AB&C and find the D properties in lesser neighborhoods.
Let me ask you guys a question please< If there was a person that can find an fellow wholesaler a great lead to a cash buyer that fits his or her criteria for a property they have in thler inventory, and the deal and closing was a success would you pay that person for making this deal happen?