All Forum Posts by: Carlo Finotti

@Teren Cooley

You can seek an appraiser to complete an appraisal for an ARV (after rehab value). That would give you a directional number that a flipper would attempt to gain on the deal. You can also gain directional comparable numbers off of Zillow or Redfin on recent sales in the area that meet that same SQ FT, bedrooms, and baths. Yet again, it would be directional..

It sounds like you received a screaming deal, so why not chat with a few flippers or put on the BP marketplace to see if you can work out a deal.

@Byron Scott

Your plan is spot on. Sounds like the 8 years of knowledge equipped you to win!

@Jonathan Greer

The whole process is a learning lesson. It’s great your taking the time to learn and understand the finance and tax implications of the business actions that you’re embarking on. Keep on learning and hustling and you will do just fine my friend!

@Jonathan Greer

Flipping definitely has tax consequences, but I believe you’re referencing more of a long term hold strategy where depreciation and passive losses come into play.

It might be advantageous to keep certain properties as long term hold rentals with a management company. You can slowly build up multiple revenue streams while allowing the flipping to fund the long term hold side. Over time you’re passive rental income can be the long term play. It does take time to build so patience is a virtue. It looks like your California which means it could take longer due to the price values expanding, however you can invest in the Midwest as well.

I'm always interested in connecting with others.  Send his contact info over.  thx!

Good morning!

I’m fairly new to the real estate long-term investing strategy. I live outside of the Pittsburgh market place with my family. My wife and I hold good jobs, but we realize there is a need to expand and invest in long-term assets. We did own a duplex many years ago and we sold two separate homes that we lived in while rehabbing to add value which we sold for a good profit margin.

With all of that being said, I’m trying to figure out next steps:--)

This is my plan:

• Form LLC
• Build website
• Begin looking for a deal (the nitch)

I have read and watched plenty of videos and it’s apparent that when you find a deal that you can use for multiple purposes (flip, rehab and rent, wholesale).

Find the deal:

• Build relationships with other investors
• Craig’s list
• Marketing drop
• Call on for rent signs
• Look in the paper
• What else?

Then there is funding:

• Traditional lending
• Private money
• Hard money
• Creative (subject to, lease, etc)

I have a little money to invest now, but I plan on having more in the future, so creative and private funding might be the way to go.

It would be much appreciated if anyone could direct me to posts and or articles on building leads or how to start finding potential deals.  It looks like I can't ask for any good private / hard money lenders, so I will not:)

Thx!