Posted by acw on August 07, 2007 at 17:46:34:
Don’t count on Corporate relocation plants…quite often they don’t materialize.
You got an option…so put the home up for sale and see what the option is worth. You should know very shortly if you have a great deal or not…
Good Luck!
TW
I need help flipping a slam dunk deal in MS - Posted by John Murphy
Posted by John Murphy on August 07, 2007 at 10:38:58:
deal is so so good. about 100-150k equity in it now and its only a 400k deal. there is a new toyota plant being built that will double the place scince its on 33 acres per the realtors in the area and im having a hard time finding a cash investor that will help. this should be a slam dunk of a deal but for some reason its turned into a headache for me. pls help. this is also my first time using this chat room or posting so hopefully it works. thanks
Re: I need help flipping a slam dunk deal in MS - Posted by Bill H
Posted by Bill H on August 08, 2007 at 10:58:09:
John:
If you wish to communicate with me please post it here on the board. I do not respond to nor read most personal emails from board post.
Sorry, but too much trouble with viruses, spam, etc.
Bill H
Re: I need help flipping a slam dunk deal in MS - Posted by Penny
Posted by Penny on August 07, 2007 at 20:11:50:
If the property will only increase significantly in value if the Toyota Plant is built, then the deal sounds more like speculation to me. Your anticipated profit seems based on what Toyota does and you have no control over it. What is the property worth if the plant doesn’t get built and do you have the resources to carry it if the plant construction is delayed? Can you buy it at a good enough price to still make a profit without Toyota?
As the financing gurus have pointed out in many posts - great deals attract money. Is this as good of a deal as you think?
Just my $.02.
Re: I need help flipping a slam dunk deal in MS - Posted by Berno
Posted by Berno on August 07, 2007 at 19:45:21:
Just my thoughts, but if this property is going to double or triple in value quickly, I find it hard to understand why these realtors don’t snatch it up. If it’s a slam-dunk to skyrocket like that, they would be fools not to want it for themselves. Something smells funny in MS…
-Berno
Re: I need help flipping a slam dunk deal in MS - Posted by Sgt.Sausage
Posted by Sgt.Sausage on August 07, 2007 at 17:48:13:
==>will double the place … per the realtors
And you believed “the realtors” ?!??
[boggle]
Since when did you meet a saleman(person) who didn’t tell the buyer everything s/he wanted to hear?
You know … it’s “the realtors” who sold all those houses to folks who can’t afford them. It’s “the realtors” who had inside information on what was going on, but couldn’t care less what happened to the buyers as long as they got their commission(s).
WTF makes you think “the realtors” are playing this one straight with you?
Sure – if it’s a good deal on the face of it then … “GO FOR IT!”, I say – however don’t let a darned thing “the realtors” say (or don’t say) influence you one iota. They’re shammers and scammers. Every. Last. One. Of. Them.
Re: I need help flipping a slam dunk deal in MS - Posted by Brian_wa
Posted by Brian_wa on August 07, 2007 at 13:54:12:
One option is to slam dunk this deal back to the owner and remove all headache.
Brian
Re: I need help flipping a slam dunk deal in MS - Posted by michaela-CA
Posted by michaela-CA on August 07, 2007 at 12:03:46:
John,
what’s your exit strategy? Are you planning on renting until the plant is built? Are you trying to wholesale to a rehabber? Are you trying to get hard money to rehab yourself? SUbdividing in multiple parcels? What’s your gameplan? What are the actual numbers?
Michaela
Re: I need help flipping a slam dunk deal in MS - Posted by John
Posted by John on August 07, 2007 at 14:29:46:
or wholesale to an investor that wants to make money. just having a hard time finding one. this is a great deal and i cant imaging anyone passing it up…AT ALL.
Re: I need help flipping a slam dunk deal in MS - Posted by john murphy
Posted by john murphy on August 07, 2007 at 14:32:37:
actual #'s are
worth over 400k now
needs 25 in work
selling for 285k
with toyota coming in this home sells for 750-800 near future.
good deal now, great deal later
Re: I need help flipping a slam dunk deal in MS - Posted by john
Posted by john on August 07, 2007 at 14:28:21:
actually i have an optoin on the place so its not a headache for me in terms of liability but it is because the deal is the best deal ive came across scince i started wholesaling deals in general. i mean the place is worth over 400k now, selling for 300k and the place is about to double or triple per realtors due to the brand new toyota plant that is being built right down the road. what im saying is i need an investor that wants to make a ton of money i guess
Re: I need help flipping a slam dunk deal in MS - Posted by Brian_wa
Posted by Brian_wa on August 07, 2007 at 14:33:51:
Hehehe,
I was just kidding with my earlier statement. Try Craigslist.com and also advertise to your local real estate investor groups.
Brian
Re: I need help flipping a slam dunk deal in MS - Posted by Bill H
Posted by Bill H on August 07, 2007 at 15:37:57:
John, Been in MS most of my life and know of the proposed new Toyota Plant to be built just outside of Tupelo, MS. Right now however the only thing I know of going for the area is that ELVIS was born there, and Columbus AFB is right down the road.
Exactly what makes it the “Slam Dunk” that you say it is. What can you put on it to make it double in price?
What is is currently zoned? Exactly how will the proposed new Toyota Plant affect this property?
There are people in SOCAL that bought out north of LA years and years ago because LAX was moving there…so far (about 40 years or more later) LAX is still where it always was.
Your email says “Finishline funding”…If you are a funding organizatin, why is it that you cannot fund the deal.
Not being derogatory but I did commercial real estate for the second largest firm in the nation and know from experience that everything that is going to double in price is not always going to happen. LIke they say in the casino industry…“The best way to double your money here is to fold it up, put in your pocket and WALK out the door.”.
The Canton area, just north of Jackson, has seen realtivle little appreciation other than the land the plant is built on. There are no supporting or ancillary industries that I know of located right around it. It all comes in by rail or truck. Tha Japanese are famouf for what they call “JIT…Just in Time” Inventory control. They keep nothing lying around and have the inventory so that the next shipment arives “JIT”.
If you have it under option…hold on to it…if you get a viable user/prospective buyer, sell it to them. If not, do not execute the option. Take your loss and move on.
I’ll look the area over again about the 1st of September as I go through there.
Good Luck,
Bill H