All Forum Posts by: Carlton B.

I have the blink cameras and doorbells on my home which work really well. My thought is to get a cheap cell phone and thether the doorbells and cameras at properties I'm flipping. I have not tried it yet but in theory I think it will work.

I replaced two units last year. The units were old but I do think they abused them. This is not an answer but here goes the AC is likely to fail during the hottest time and if it is do to there abuse be sure they understand the reason they are uncomfortable is related to there actions. Now if takes a week or two or three to order parts or get a tech lined they will just have to suffer and maybe they will think twice about turing the thermostat to 0.

Some other choices drywall over the current ceiling or skim coat. Mold, lead, and asbestos you never want to hear those words when rehabbing but you have to find ways to deal with them. Safety first so if you do research and you feel there is a chance of asbestos call a pro and ask for there opinion. 

Depending on the turnaround you. an supplement you rehab cost with credit cards. Example 20k on a Homedepot card Then use a bank and transfer balance to  0%  for 6 months. This works best on 2 to 3 month flips. There is other way to use credit cards but it does add some risk.

Quote from @Hugh Hardy:

What is the best profit that you made on a recent flip?

Purchase Price? Rehab? Sold Price?

Was it on market or off?

 I love hate Broward county so I'm watching this post closely.

if you did the background on the guy you should have a pretty good sense of his history. If he rarely changes jobs and has been consistent at paying rent and I could afford to carry the mortgage I would give him another month. If he has been taking care of the property it should be an easy turnover and you can keep the security for the missed rent. now if he finds a job then catches up he will be grateful and probably be a good tenant until he leaves. 

I think it was a good idea just not executed well. You could do a tile instead.

Quote from @Jonathan Klemm:

Hey @Franciellen Schreiner - We are a GC here in Chicago but a good resource would be @Marcus Auerbach.  He's an agent in Milwaukee that works with a bunch of investors.

If you want to come and invest in Chicago...happy to help!

 I second @Marcus Auerbach he also has a good YouTube channel 

There is a flipping calculator on Biggerpockets that will give you an overall view of the numbers. The problem is being sure of the numbers. The first problem is no one can know the future so even the best rehabbers underestimate rehab cost because of some hidden issue. Next is the comps which are good today but when you sell they can be different. There are lots of factors to consider, but if you are serious i would try getting a mentor or partner and do a couple deals. There is no substitute for experience.

Quote from @Mo Abour:

Quote from @Carlton B.:

Good GC's are rare in Milwaukee. The jobs are either to small or they don't like certain areas. Also there are some shady characters looking for an easy mark. My son and I do all of our flips ourselves if you decide to try yourself DM me and I will give you some contractor recommendations.

Carlton - I am in the process of getting my GC License (we're a General Contractor in Chicago but I live here) do you mind if I DM you for those contractor recommendations?

 Sure be specific about what you need.