All Forum Posts by: Jeff Hink

Anybody have a good way of analyzing a weekly vacation rental condo or house?

We are looking for flip opportunities in Memphis, TN , Birmingham, AL. and Panama City Beach, FL.  We mainly work with 3/2 or bigger houses.  We have done houses that we have sold for up to $575,000. 

White Pickett Fence Ventures, LLC

[email protected]

Welcome to the site.  We are also newbies to the site from Memphis and members of MIG.  We have been investing for about one year and are mainly rehab/flippers.  Look for to see you at MIG.

This is a house we would have our LLC own thsn sell to the client. The LLC would be separate from the SDI. It sounds like pulling money from a 401K might be the way to go.

@Holdmand You read that right.  Thanks for the information.  

@Dolgeh It sounds like like I can take money from a 401K and then loan that money out to the new home owner.

Thank you both.

Has anybody used or are you able to use a self directed IRA to back a client that wants you to owner finance a house for them? What are the draw backs and/or how does this work?

We went all in with the Flipping Formula.  I wish I would have found BiggerPockets.com and our local investment club first.  We would not have attended any other classes.  We have found the same if not more info on biggerpockets.com.  We did do our first flip and made all our money back that we spent on the classes.  If I could go back now and I would knothole spent the money ion those classes and just used bigger pockets.com and its resources.

We are looking at purchasing a SF rental property. We would then like to get a loan or line of credit off of this house. Do any banks of LOC off of rental properties?

We are purchasing our first SF rental.  We are debating to either pay cash or finance it?  I am leaning the way of paying cash and then use it as leverage to get a loan for our next rehab flip project.

Jeff 

We are starting to work SPM.