Well, it looks like pretty standard fare here on this website and another one that I post on which deals a lot with rehabbing and “flipping” properties.
I could see that you might have made it a little gentler by putting in such things as “in my view” or “it seems to me.” And perhaps “I suppose different people have differing criteria for what makes a good purchase, but it seems to me that … .”
Now, the idea of needing to buy for no more than 70% of after repaired value minus costs for repairs figure is somewhat inappropriate for this property, in my view. That is a rough rule of thumb which is most appropriate for properties in a price range of about $60-75K at the low end up to around $300-350K on the high end, I’d suggest. When you get lower-priced properties you need to impose a minimum necessary absolute profit such as $12K, $15K, $20K, or whatever your choice may be. At higher-priced properties it becomes increasingly difficult to buy properties at lower ratios of the after-repaired value—such as 70%--because the dollar amount is so high. Sellers don’t like to “give away the store.” When the discount works out to over $100K, then sellers just don’t much like the numbers.
So, if one can actually make a $60K profit with this particular property it might well be considered a pretty good deal by some investors. From the description given, the property should not take an great deal of time and effort to rehad and resell.
I did not feel that you remarks were particularly hostile, aggressive, insulting, challanging or similar. However, I really like conflicting viewpoints when they are based on reality and one’s experience and not meant to impugn the opposing discussant’s character.
However, some people may feel that a more genteel manner of writing is more appropriate for their board. I’ve never been to that board, as I recall, so can’t comment on their context. Where I choose to post, I would not be upset with your comments and would not expect such a strong reaction from others as you got from their moderator.
Good Posting and Good Investing*********Ron Starr*************