All Forum Posts by: Brian Holt

Similar to the show Flipping Vegas. On that one they do total rehabs for like $12k because he's such a "great negotiator" with his contractors! haha!

Great story of persistence and best of luck moving forward!

While it has been enlightenting reading everyone else's opinion on this matter, I just couldn't justify finding the deal, buying the house, paying for the rehab and then also giving away half my profit on the back end. I could see it justified if the contractor worked at cost and was paid out everything on sale, but I don't think that was the scenario as it's been outlined so far. I will agree that finding the right contractor for you is crucial. I'm going through a couple rehab and rents right now and I think I have found the right team, but only time will tell. Good luck!

I'm still new to this as well, but after seeing those pictures and hearing the story so far....I would run from that deal and take a little more time to learn. I think you have gotten some good advice from others in this thread.

Great thread! I have been struggling with a situation that aligns with this discussion. I am closing on a duplex that will be leveraged, but I also own 3 single families free and clear. the debate for me was do I want to dilute the monthly cash flow by cash out refinancing, but with my goals for growth I think it's the only way to go. The thing that put it over the top for me to use the leverage was when I started thinking about it in a different manner. The way I see it I'm not diluting that income, but will be using that debt against another property that should increase my overall cash flow if that makes sense. At the end of the day I see it as a risk tolerance issue for each individual and it will be greatly influenced by your overall goals for the business. Best of luck!

@Fitzgerald Hall, sounds like a win win to me. Congrats!

Welcome to BP @Eric Waddy.

@Arlen Chou, love the quote in your signature. I recently bought a couple single families at auction and I'm planning to do a lot of the work myself as well. Nice to read about those out there doing it and making it work.

Wow, lots of motivation in this thread. Thanks for sharing your stories!