r/HouseFlipping

I purchased a home and planned to flip it. This is how I purchased the home everything done transparently. Today BGE said they want to inspect the house. Has anyone else done real estate investment in Baltimore and had BGE request to inspect the home? Permits were pulled and we have our requirements from the city in writing in signed.

What is the governments purpose for allowing a break in capitol gains after two years? It doesn’t make any sense other than as a way to control people’s actions (for what?) and to make money. Why should the govt care if people move sooner than two years?
People who do what we do should be incentivized, especially in areas where there is a massive housing shortage. But instead we are taxed and taxed and taxed. It doesn’t make any sense. The older I get the more I think our govt is playing monopoly with our lives. We don’t need a game, we need a solid, stable foundation. Not taxing the shit out of people seems like a good start. And then there’s the top three percent who somehow avoid taxes. It’s sick. And the interest rates. I’m pissed.

I purchased a property recently at an amazing price! I’ve flipped many homes but this is the first deal I could consider subdividing and building two specs. There’s profit in both and each have their pros and cons.

I originally bought to fix and flip. However I had several people approach me (RE investors in my click) telling me I should build 2 specs. It’s a really great area in my market.

If I do the fix and flip I’m all in $185k with a ARV of $290k. However I’ll have to disclose the remediated mold, foundation issues, and termites. It’s also half pier and beam, half slab. So lots of elevation changes in the home (ex walking up steps from livingroom to kitchen) which isn’t favorable in my market.

If I do the two specs I’m all in $500k with both specs selling around $620k (E/$310k). But holding cost are factors with demoing the old home and them being new builds. Plus the building process is uncharted territory for me, but I could figure it out considering the flips I’ve done were complete tear outs. I also get great experience being an owner-builder which imo is extremely valuable.

Cash buyer here, bought a fair number of off-market deals from wholesalers over the years, now looking harder at FL. Twice in the last year a deal I liked went sideways after we'd agreed terms because title turned up something the wholesaler hadn't seen (one was an heir who'd never been probated, one was a judgment plus an open permit). Both times the wholesaler found out the same day I did.

Saw an older thread here where a regular said they charge wholesalers $10K–$20K to fix chain-of-title and death issues, and that their VAs run a quick title pull before they even skip trace. Curious how common that really is, so a few honest questions for the people doing volume:

1. When do you first look at title? Before you make the offer, once it's under contract, or whenever the buyer's title company opens the file? Who runs it, a VA, your title company, or a paid search?

2. Roughly what share of your contracts die or slip because of title, and what's usually the culprit? Heirs, breaks in the chain, judgments, code/municipal liens, permits?

3. When something does turn up, who's on the hook to fix it? The seller, you, your closer, or someone you pay? And do sellers actually cooperate when it's your deal, signing affidavits, chasing a lender release, that sort of thing?

4. From the buyer side: if a deal came to me as "title's already been run and cleared, closes in 10 days," I'd move faster and probably argue less on price. Does that actually matter to the buyers you sell to, or do they assume it's fine until it isn't?

State matters here so say where you work. Not selling anything, just trying to understand why so many of these fall over late.

You're in sales. You're good at it. But someone else is deciding what you're worth.

Your income is decided by one person — you.

We're a wholesale real estate investment company in the DFW area and we're always looking for driven people who want to get paid for their actual effort.

Inbound leads provided
No cold calling
Uncapped commission
Real estate experience not required — just bring the work ethic

If this sounds like you, drop a comment.

Hey wholesalers,

For those using transactional funding for double closings, what are you paying? Is 1.5% close to what you see, or are your fees different? What funding amount and duration does that cover?

What keeps you coming back to the same lender? Lower fees, reliable funding, easy communication, or something else?

Would love to hear what's worked for you and what hasn't.

What system do you use to keep tract of everything?

What are the pros and cons of it?

I've been digging into wholesale real estate the last few weeks and I'm trying to get a real read before I jump in heavy.

For people who are actually doing deals, what are you guys' thoughts on getting started right now? Is cold calling / SMS still the main path, or are you finding deals other ways?

Also curious what surprised you most in the first few months that nobody really talks about.

Not trying to sell anything, just looking to get into it and hear from people who've been in the game.

My state just legalized ADUs. Does anyone have an experience to share with adding an ADU, but still reselling? What about additions?