All Forum Posts by: Danny Carter

Hi Lee, 

I'm interested in the property and seller financing, and would like to know more about the terms. 

I will send you a personal message now. 

@Marcin Chojnacki Thank you so much for the real-world advice Marcin. I wish you luck in the future and I'm sure you'll find it as you continue to pay it forward with great knowledge for new investors like myself. 

-DC

@Marcin Chojnacki Incredible job. I'm looking to complete my first flip this year and seeing your work and victory in the end is very inspiring. The home looks beautiful. 

Marcin, as you complete many flips per year, is there a particular time of year you would advise me to not have a house on the market in? 

It seems like the colder months would be much slower, but I'm not sure if that's perception or reality. 

Hello BP! 

I am newly self-employed and currently have one rental unit I've been managing since 2013. 

I have the cash to fund the downpayment for my next rental, however I am in search of a bank that will provide me with an affordable mortgage on the property. 

I understand that usually you need 2 years of self-employment tax return income to qualify, so I'm hoping someone here in the forums can help me with an alternative!! 

Thanks! 

@Manolo D. Thanks for your input. The constant cash flow would come from my working relationship with the contractor and making them my go-to. 

I focus on building systems so I can automate things. 

Once a solid team is in place I'll funnel the work to them and that's the upside. 

I'm not trying to sell anybody here, and I don't feel like a contractor doing his/her job is a luxury that I should cherish. 

I believe that doing your job is a solid fundamental in good business, and I don't mind searching for people who feel the same way. 

Hello BP! 

I'm looking for solid contractors for my fix + flips and wanted to start the search here! 

Most of my deals will probably be 30-1hr outside of Los Angeles, so I need a crew ready and willing to make that hike. 

I see the average job coming in at 20-25k so this could be a consistent flow of cash once we get things on a system. 

Any suggestions you can provide are much appreciated! 

-DC

Hello BP!

I'm on the hunt for solid wholesalers in Los Angeles, and the surrounding cities for fix and flips. 

If this describes you dive right in and lets see what we can make happen!!! 

@George Despotopoulos thanks so much George. I've decided to pass on the flip. The margins were razor thin and when I dug deeper I couldn't find enough legit comps to make me comfortable. 

I know that I could have gotten that property to cash flow positively around $300+, but it is what it is. 

I'm going to keep those types of lenders in mind and continue digging for better deals. I know they're out there somewhere. 

@Ian Walsh Thanks Ian. I'm taking some time to reevaluate this deal, and my potential exit strategies. I think emotion and pressure to earn was driving me towards doing a deal with too little room in it. Thanks to @Arpan Patel I have loose guidelines on what I should be looking for in terms of return on a flip. 

I know a lot of people live and die by the 70% rule and I'm going to stick closer to it from here on out. 

@David Dye 

Hi David, I'd love to learn more about that program. 

-DC