Should you invest in your house to get out of cash?

[sdrealtor]

I wouldnt call that all sweat equity. Two other things happened that need to be pointed out lest we end up with an inflated hawk. He bought very well because he was a “waiting hawk”, educated himself and got a good property at a below market price at the time. Second, he bought at a time when the psychology was at its all time worst and things have gotten a bit better. In summary, in addition to benefiting from “street smarts” he also benefited from some luck and good timing. Not that there is anything wrong with that.

[sdrealtor]

BTW, a professional flipper just bought a house in Encinitas for $675K closing on 8/27. It was an REO in need of a little work but easily fixable. It took them less than a week to fix it up and get it back on the market. It took about 30 days to get it in escrow and it sold for $876K on 11/4. Total holding period was just over 60 days.

Ironically I had a client that wanted it too but kept talking themselves out of it. As the lender lowered the asking price they dropped what they were willing to pay for it even more. By the time it sold they had lowered what they would pay for it by about $100K and missed out on a property that was close to perfect for them.

[sdrealtor]

BTW, a professional flipper just bought a house in Encinitas for $675K closing on 8/27. It was an REO in need of a little work but easily fixable. It took them less than a week to fix it up and get it back on the market. It took about 30 days to get it in escrow and it sold for $876K on 11/4. Total holding period was just over 60 days.

Ironically I had a client that wanted it too but kept talking themselves out of it. As the lender lowered the asking price they dropped what they were willing to pay for it even more. By the time it sold they had lowered what they would pay for it by about $100K and missed out on a property that was close to perfect for them.

[sdrealtor]

BTW, a professional flipper just bought a house in Encinitas for $675K closing on 8/27. It was an REO in need of a little work but easily fixable. It took them less than a week to fix it up and get it back on the market. It took about 30 days to get it in escrow and it sold for $876K on 11/4. Total holding period was just over 60 days.

Ironically I had a client that wanted it too but kept talking themselves out of it. As the lender lowered the asking price they dropped what they were willing to pay for it even more. By the time it sold they had lowered what they would pay for it by about $100K and missed out on a property that was close to perfect for them.

[sdrealtor]

BTW, a professional flipper just bought a house in Encinitas for $675K closing on 8/27. It was an REO in need of a little work but easily fixable. It took them less than a week to fix it up and get it back on the market. It took about 30 days to get it in escrow and it sold for $876K on 11/4. Total holding period was just over 60 days.

Ironically I had a client that wanted it too but kept talking themselves out of it. As the lender lowered the asking price they dropped what they were willing to pay for it even more. By the time it sold they had lowered what they would pay for it by about $100K and missed out on a property that was close to perfect for them.

[sdrealtor]

BTW, a professional flipper just bought a house in Encinitas for $675K closing on 8/27. It was an REO in need of a little work but easily fixable. It took them less than a week to fix it up and get it back on the market. It took about 30 days to get it in escrow and it sold for $876K on 11/4. Total holding period was just over 60 days.

Ironically I had a client that wanted it too but kept talking themselves out of it. As the lender lowered the asking price they dropped what they were willing to pay for it even more. By the time it sold they had lowered what they would pay for it by about $100K and missed out on a property that was close to perfect for them.

[bearishgurl]

So, sdr, by your posts are you saying you believe it is possible to acquire a goodly chunk of “sweat equity” is a short period of time in SD County??

Your Enc “fixer” example which sold for $675K in August . . . how much do you think the flipper put into it (mat’ls and labor)??

In waiting hawk’s case, he may or may not have been able to qualify to buy a fixer for $675K, even if he had the skills to fix it up.

Those >$500K and up fixer-flippers are generally purchased by investors with deeper pockets than a common Pigg who needs a home for his family.

By “street-smarts,” I was referring to djshakes’ and waiting hawk’s ability to negotiate new or slightly used materials from private parties and resellers and take their own deliveries (cash & carry). This practice is common in the “trade.”

A bankrupt small developer in Chula Vista left two trusses sitting next to his unfenced abandoned partially finished construction last year. Within a couple of days, they were miraculously gone . . . overnight!

When Piggs post here that they spent nearly $50K on a kitchen remodel (and didn’t believe one could do this for less) in a working-class neighborhood, no less, I have to wonder . . . why??

The private party (after)market on building mat’ls will always be alive and well and utilizing this market is the ONLY way to build “sweat-equity,” IMO.

[bearishgurl]

So, sdr, by your posts are you saying you believe it is possible to acquire a goodly chunk of “sweat equity” is a short period of time in SD County??

Your Enc “fixer” example which sold for $675K in August . . . how much do you think the flipper put into it (mat’ls and labor)??

In waiting hawk’s case, he may or may not have been able to qualify to buy a fixer for $675K, even if he had the skills to fix it up.

Those >$500K and up fixer-flippers are generally purchased by investors with deeper pockets than a common Pigg who needs a home for his family.

By “street-smarts,” I was referring to djshakes’ and waiting hawk’s ability to negotiate new or slightly used materials from private parties and resellers and take their own deliveries (cash & carry). This practice is common in the “trade.”

A bankrupt small developer in Chula Vista left two trusses sitting next to his unfenced abandoned partially finished construction last year. Within a couple of days, they were miraculously gone . . . overnight!

When Piggs post here that they spent nearly $50K on a kitchen remodel (and didn’t believe one could do this for less) in a working-class neighborhood, no less, I have to wonder . . . why??

The private party (after)market on building mat’ls will always be alive and well and utilizing this market is the ONLY way to build “sweat-equity,” IMO.

[bearishgurl]

So, sdr, by your posts are you saying you believe it is possible to acquire a goodly chunk of “sweat equity” is a short period of time in SD County??

Your Enc “fixer” example which sold for $675K in August . . . how much do you think the flipper put into it (mat’ls and labor)??

In waiting hawk’s case, he may or may not have been able to qualify to buy a fixer for $675K, even if he had the skills to fix it up.

Those >$500K and up fixer-flippers are generally purchased by investors with deeper pockets than a common Pigg who needs a home for his family.

By “street-smarts,” I was referring to djshakes’ and waiting hawk’s ability to negotiate new or slightly used materials from private parties and resellers and take their own deliveries (cash & carry). This practice is common in the “trade.”

A bankrupt small developer in Chula Vista left two trusses sitting next to his unfenced abandoned partially finished construction last year. Within a couple of days, they were miraculously gone . . . overnight!

When Piggs post here that they spent nearly $50K on a kitchen remodel (and didn’t believe one could do this for less) in a working-class neighborhood, no less, I have to wonder . . . why??

The private party (after)market on building mat’ls will always be alive and well and utilizing this market is the ONLY way to build “sweat-equity,” IMO.

[bearishgurl]

So, sdr, by your posts are you saying you believe it is possible to acquire a goodly chunk of “sweat equity” is a short period of time in SD County??

Your Enc “fixer” example which sold for $675K in August . . . how much do you think the flipper put into it (mat’ls and labor)??

In waiting hawk’s case, he may or may not have been able to qualify to buy a fixer for $675K, even if he had the skills to fix it up.

Those >$500K and up fixer-flippers are generally purchased by investors with deeper pockets than a common Pigg who needs a home for his family.

By “street-smarts,” I was referring to djshakes’ and waiting hawk’s ability to negotiate new or slightly used materials from private parties and resellers and take their own deliveries (cash & carry). This practice is common in the “trade.”

A bankrupt small developer in Chula Vista left two trusses sitting next to his unfenced abandoned partially finished construction last year. Within a couple of days, they were miraculously gone . . . overnight!

When Piggs post here that they spent nearly $50K on a kitchen remodel (and didn’t believe one could do this for less) in a working-class neighborhood, no less, I have to wonder . . . why??

The private party (after)market on building mat’ls will always be alive and well and utilizing this market is the ONLY way to build “sweat-equity,” IMO.

[bearishgurl]

So, sdr, by your posts are you saying you believe it is possible to acquire a goodly chunk of “sweat equity” is a short period of time in SD County??

Your Enc “fixer” example which sold for $675K in August . . . how much do you think the flipper put into it (mat’ls and labor)??

In waiting hawk’s case, he may or may not have been able to qualify to buy a fixer for $675K, even if he had the skills to fix it up.

Those >$500K and up fixer-flippers are generally purchased by investors with deeper pockets than a common Pigg who needs a home for his family.

By “street-smarts,” I was referring to djshakes’ and waiting hawk’s ability to negotiate new or slightly used materials from private parties and resellers and take their own deliveries (cash & carry). This practice is common in the “trade.”

A bankrupt small developer in Chula Vista left two trusses sitting next to his unfenced abandoned partially finished construction last year. Within a couple of days, they were miraculously gone . . . overnight!

When Piggs post here that they spent nearly $50K on a kitchen remodel (and didn’t believe one could do this for less) in a working-class neighborhood, no less, I have to wonder . . . why??

The private party (after)market on building mat’ls will always be alive and well and utilizing this market is the ONLY way to build “sweat-equity,” IMO.

[bearishgurl]

Piggs, if you see a San Diego County “recent sold” online that you believe could deliver “sweat-equity” to its new owner in =<1 year, could you post the link here?

And if you can, also post your uneducated opinion on much you think it would take to get it resaleable and how much it would sell for in today's market.

When I say "uneducated," I mean, based solely on the photos provided. If you have intimate knowledge of the area or street, or have even been inside the property in the past, all the better!

Thanks.

[bearishgurl]

Piggs, if you see a San Diego County “recent sold” online that you believe could deliver “sweat-equity” to its new owner in =<1 year, could you post the link here?

And if you can, also post your uneducated opinion on much you think it would take to get it resaleable and how much it would sell for in today's market.

When I say "uneducated," I mean, based solely on the photos provided. If you have intimate knowledge of the area or street, or have even been inside the property in the past, all the better!

Thanks.

[bearishgurl]

Piggs, if you see a San Diego County “recent sold” online that you believe could deliver “sweat-equity” to its new owner in =<1 year, could you post the link here?

And if you can, also post your uneducated opinion on much you think it would take to get it resaleable and how much it would sell for in today's market.

When I say "uneducated," I mean, based solely on the photos provided. If you have intimate knowledge of the area or street, or have even been inside the property in the past, all the better!

Thanks.

[bearishgurl]

Piggs, if you see a San Diego County “recent sold” online that you believe could deliver “sweat-equity” to its new owner in =<1 year, could you post the link here?

And if you can, also post your uneducated opinion on much you think it would take to get it resaleable and how much it would sell for in today's market.

When I say "uneducated," I mean, based solely on the photos provided. If you have intimate knowledge of the area or street, or have even been inside the property in the past, all the better!

Thanks.

[Author]

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