All Forum Posts by: Clint Jusino

My first CPA fired me because I created an LLC and he was not willing to do the work.. The second CPA I fired because he gave me a tax bill that was not right and then corrected it hours before I was going to send the money to the IRS. The two connections between these two that I did wrong.. I did not interview them prior to using them.. Took someone's word for it.

After these bad experiences I went out on a hunt a interviewed 4 different CPA firms and went with the current ones we have now because they answered all the right questions and worked with hundred of investor clients.

Can you share your CPA? The one I have takes forever to respond and I want to file asap and not wait months. So frustrating.

0 Votes

Quote from @Ben Fernandez:

For someone starting out in fix and flips, what are some things to look for in choosing the right accountant/cpa to start a house flipping venture?

I would say look for a CPA that has done this before or has investment properties. See if they have done a BRRRR or Flip. Nothing like having someone that doesn't just talk to talk but actually walks the walk. 😉

2 Votes

Quote from @Natali Cobb:

Hi all,

Can I use a FHA loan on a small multifamily (2-4 units), as long as I live in one of the units for at least 12 months? Are there any other major stipulations to consider? Any tips to get qualified for this type of loan?

I believe there are income requirements and this has to be your primary residence. 3.5% down is the minimum. There will be PMI applied to your loan. I recommend when you are available to, try to refinance into a conventional to get rid of the PMI. There's a credit score range as well. You need to be 580 or higher. If lower then you'll need 10% down payment. Best of luck!

1 Vote

Albany, New York

Quote from @Stan Tallman:

Hi-

Anyone willing to share their actual modified lease contract? looks like most people use the TAR boilerplate contract. Can I simply redact all references to TAR but use the same verbage if i'm not a realtor? Also, what do you add or emphasize with your renters? Thanks in advance!

Hello Stan,

I have a TX lease agreement I can share with you. I reviewed it with a friend of mine who's an investor with dozens of properties so I feel confident you'll like it. I also added the new appliances I have provided, if there are any issues it's the tenants responsibility to fix. Also get the grass cut every 2 weeks. I have provided a contractor they can reach out to for any issues. I don't want a 2am call the toilet is leaking. Stuff like that. DM me and I'll share. Good luck to you!

3 Votes

Dallas, Texas

Quote from @Account Closed:

Quote from @Clint Jusino:

Quote from @James Trobaugh:

For those who started out with little to no money, how did you manage, and if you could start over, would you take the same route, and if not, why? What plan did you use, and did that plan become versatile during your growth? Also, were there any unexpected problems or issues you wish you could have avoided? I'm interested in anyone willing to share, but more interested in those who started with little to no capital.

From my experience as a fairly new Investor (10months) I currently have 2 rental properties. I purchased my 1st from my parents using the creative financing called "Gift of Equity". I purchased my 2nd from an investor friend who sold it to me for a discount (45k lower then appraised value). I used my emergency funds, 401k loan, pulled from my Roth IRA to be able to put the 20% down to get it. Since it needed rehab (30 to 40k) I took a personal loan to fund the rehab. What I have learned since your new is try to house hack. Purchase a property with 3 to 5% down and get some friends or others to help pay the mortgage. Network with folks. Try to partner with others on deals. Continue learning from YouTube University. Save up your reserves. I'm learning this while going thru rehab that what you estimate always add 5 to 10k buffer. I would be happy to talk to you over the phone on what I have learned as well. Reserves are really important. I was looking into hard money loans but they all come at a cost. Your own money no one is charging you any fees. Best of luck!

You dare to try new financing methods and are adept at using various resources to achieve your investment goals. You also understand how to control risks by saving emergency funds for unexpected situations. However, everyone's investment approach is different, as is everyone's situation. This method may not be suitable for everyone. Nevertheless, I am very interested in discussing such topics with you :)

I was just giving my experience of what I have been through so far on my REI journey. I hope others share their experiences as well to help @James Trobaugh out. 😊

1 Vote

Quote from @James Trobaugh:

1 Vote

Quote from @Pradeep Velugubantla:

Hello BiggerPockets Community,

I’m currently exploring the real estate market in Reading, PA, and I’m particularly interested in rental properties that generate cash flow. However, I am not finding any decent properties that generate positive cash flow.

I'd love to hear from those of you who have firsthand experience investing.

- What cities/areas in the US have you found to generate good cash flow?

- What types of properties are better for cash flow?

Thanks in advance. Your suggestions/insights are greatly appreciated!

Happy investing! 🏠

Pradeep

I have heard parts of Ohio like Cleveland, Dayton, Akron. I also heard St. Louis and Midwest areas. I'm in Dallas area and have found 2 rentals. I can talk about the Dallas area If you like? DM me if you want more info. Best of luck!

2 Votes

Quote from @Deonte Hill:

Hello, I am looking at all my options for jumping into investing. I'm now exploring obtaining a distressed property to rehab it. Do you have any GCs that you would recommend and have a good working relaitonship with?

Hello Deonte. I do have a great GC but he's in the Dallas area. Maybe he knows other contractors in your area. Hit me up and I can share his contact info. Worth a shot.

0 Votes

Houston, Texas

Quote from @John Seitz:

Hello St Louis flippers. Where do you buy your appliances? What are trends you’re noticing in type, style, color, etc?

I'm located in the Dallas area and from what I have learned from YouTube University, Stainless steel is the way to go for the kitchen area. As for laundry room you can pick the cheapest (white/black) since no one can see it and it's not as visible. I bought all 5 of my appliances for my new rental at a scratch and dent store for roughly 3k.

1 Vote

Saint Louis, Missouri

Quote from @Renisha Hill:

@Miron Briley I’m very interested in real estate & eager to learn more before starting my journey. I would greatly appreciate your help… I’m in the dfw area.. thanks!

@Miron BrileyI'm in the dfw area and would love to connect with you. Welcome to TX.

0 Votes

Dallas, Texas

All Forum Posts by: Clint Jusino

Clint Jusino has started 6 posts and replied 151 times.

Post: Fix and flip accountant credentials

Post: Fix and flip accountant credentials

Post: FHA loans on owner occupied multifamily properties

Post: Texas lease contract additions?

Post: Curious How Others Started, and What They Would Change

Post: Curious How Others Started, and What They Would Change

Post: Cash Flowing Rental Properties

Post: General Contractor Rreccomendations

Post: Buying appliances in St. Louis Area

Post: Wholesaling - Starting out