ohio: Prepping Properties for ‘Wholesale’ - 04/17/11 02:46 AM
Prepping Properties for ‘Wholesale'
            Most of the time we are able to sell properties out right to another investor, as-is.  Sometimes however, we have to put some additional cash and work into a property to help the buyer / investor purchase it.  Here are a couple of ways we have done this.
  
The "Pre-Hab"
            We have completed "pre-habs" on occasion where we have put limited finds into a project to help an investor or buyer obtain the appraisal they need for their preferred financing. Pre-Hab is just a term we use implying that we are making minimum rehabilitation … (2 comments)

ohio: Our book is now available as an Amazon Kindle Download! - 02/23/11 12:02 AM
We Lost $1,000,000 in Real Estate In Less Than 5 Years by Brad Zitzner and Chris McAllister is now available for Kindle download for $4.96. 
Our personal story of navigating the real estate downturn. This is a how-to guide of everything that worked for us, and everything that did not. Lots of case studies and personal experience. If you are thinking of investing in real estate - you will want to read this book.
http://www.amazon.com/Lost-Real-Estate-Years-ebook/dp/B004OYTMZM/ref=sr_1_1?ie=UTF8&m=AG56TWVU5XWC2&s=digital-text&qid=1298465726&sr=8-1
(2 comments)

ohio: Buying a Property We Expect to Sell to Another Investor - 01/17/11 01:14 AM
Buying a Property We Expect to Sell to Another Investor
My last couple of posts have concerned valuing property for both ‘buy and hold' and to ‘flip' to a retail purchaser.  Sometimes we have the opportunity to buy a property we can sell to another investor, or ‘wholesale'.
Our current formula for this transaction is simple and straight forward:
ARV (After Repaired Value) X  .65 - $12,000 - Cost to Repair = MAO (Maximum Allowable Offer)
We aim for a $12,000 profit on a wholesale purchase.  This is an arbitrary figure and a goal number.  Obviously a quick transaction may yield less … (3 comments)

ohio: Valuing Investment Property - The ‘Flip' Hurdle - 12/20/10 03:34 AM
Valuing Investment Property - The ‘Flip' Hurdle
  A few days ago I made a rather lengthy post regarding valuing a property you intend to buy and hold.  My point was that a property in a market that is not appreciating must pay for itself.  No one wants an investment that eats while you sleep.  Your investments must work for you - not the other way around.    http://www.themcallisterteam.com/blog/2010/12/01/how-much-is-that-investment-property-really-worth/
An alternative method to valuing a property that has worked for us, and can be done pretty much on the fly, is a ‘flip' valuation.  Essentially, if the property passes the ‘flip' hurdle, it is … (1 comments)

ohio: How Much is that Investment Property Really Worth? - 12/01/10 04:33 AM
How Much is that Investment Property Really Worth?
These days buying an investment property for appreciation is very long term speculation at best and reckless gambling at worst.  Buying for cash flow is where it's at.  Buying a property that cash flows means future appreciation is just icing on the cake.  The trick is buying the property right to begin with. 
To make the numbers work, you have to start with the rent you expect to collect and work backwards.  I invest in the Springfield, Ohio area so the type and quality of rental property I work with may be very … (2 comments)

ohio: Home Sales Statistics / Springfield, Ohio / Urbana, Ohio - 11/21/10 12:35 AM
MLS Sales Stats - January 2010 through September 2010
Below please find a summary of our key sales statistics as compiled by WRIST, our MLS.  WRIST covers Auglaize, Champaign, Clark, Logan, Mercer, Miami, and Shelby Counties.  The information is set up to compare the first nine months of 2010 against the first nine months of 2009. 
As shown below we are seeing more homes sold this year compared to last year.  The total value of the homes sold has improved as well.  Sadly however, individual home values continue to deteriorate with the happy exception of Champaign County which is enjoying a 6% … (1 comments)

 
Chris McAllister (Real Estate II)

Chris McAllister

Springfield, OH

More about me…

Real Estate II

Address: 14 East Main Street, Springfield, OH, 45502

Office: 937(390) 371-5401

Fax: (937) 390-0112

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