All Forum Posts by: Chad Michael

*30 foot skid 

@Thomas Franklin 

Is it illegal to wholesale with a license  or  to be a real estate agent that pays a referral fee to a wholesaler.   I’m moving to South Florida in August but I know a couple  active wholesalers in Ohio who have their RE license.  I never asked.. May be a state thing?

Hello y’all :). 

I’m a newbie for the most part moving to South Florida in August.  I’m positioning myself to do my first flip when I find the right deal and I’m wondering what tactics and strategies many of you use in your rehabs to transition from one check point to the next. 

For instance, I’ve gathered that getting the 30 yard dump skid on site by 10am the morning after close is more or less important to many so demo can be done by day 3 leading right into when the roofing crew shows up and hopefully done and out by day 5 so they aren’t  throwing shingles or tile on everyone..  And I know inspection/permitting makes the whole  process a little sticky from time to time.     

I’m interested in how one times the start and completion of the front hardscape and landscape so marketing can begin as soon as possible.. 

I have carpentry and plumbing experience but moving to an area where the structures are primarily concrete walls so I’m especially interested in how that might change the order and tactics of the rehab flow.  

I know some might think I should just leave all the logistics and flow up to the GC, but I’m a recovering Type A..  lol 

Thanks  in advance:)

Side tracking question from a newbie...  what steps in the loan process are disrupted from an unusual sale price number?   

Hello.  I’m wondering if anyone can give some insight as to what tax advantages there are to being an equity partner on the down payment of a commercial deal?  Do you still see tax advantages of depreciation and how can you limit your tax exposure when you are cashed out at the refinance?   

@Alfred Edmonds and @Rachel H.   I wasn’t aware that Home Depot did that but I’m definitely looking into that.  And that’s a great point about the type of people I’m likely to encounter and an opportunity to make more opportunities.  Thanks for the input.  I think it will be a pretty fun experience as well. 

So I'm wondering what people think about volunteering with Habitat for Humanity to learn about rehab and associated costs.  I'm in the process of building my capital base to take the offense and in the meantime I'm looking for networking and learning opportunities.  I think H4H  would be fun and I'm wondering what sorts of experiences any of you may have found valuable..?...

Another tip I'm taking from a mentor of mine is to look for mismarketed properties... ie. a duplex listed as 5 bed and 1 bathroom where your low offer might be the only offer they see for several days.or a property listed as duplex when it is really just a SFR with an in-law and it's not zoned to be a legal duplex.... Square footage in relation to beds and bath for that neighborhood might be a potential tip-off to this.

The ones with Frank Gallinelli and Michael Lacava were pretty good too.

Same boat.. moving to South FL this fall and It's pretty much like Frank said.. You can look into websites like city-data.com, Zillow, Trulia, etc and you'll likely come up with the same conclusion. I've found a couple properties on Craigslist that had an appealing price.. You might also start by looking on the MLS for market trends on how long properties are sitting and how close they are getting to asking price. Could also shop for some Florida property on EBay if you're feeling ballsy.