All Forum Posts by: Franklin Curry Jr

Wow @James Galla I didn't think about the insurance covering my family in a live in flip. Thank you! That is huge. This is a great starting point. This information is very helpful thank you for the feedback.

Hello BP Community,

As my wife and I get closer to getting our first deal of a live in flip I keep having this nagging question in the back of my mind. How do you vet experts? We know we may need a general contractor. Is the general contractor the main person to coordinate other specific experts as in roof work, plumbing etc or does the contractor do most of the work? Lastly has anybody used the, "Find a Contractor" section on the BP site under services and if so what was your experience? This seems like a good way to find a vetted trusted expert but of course I will do my own research. I just want to ensure we are starting down the right path.

Thank you,

Wow @Jason Toledo! That is exciting. Yes I agree with your advice! On to the next one right! Looking forward to join that club soon!

Oh ok I get it now. So if a wholesaler finds a buyer or not, if that property is under contract somebody is buying it. That could be the person you are selling the property/contract to or yourself if you cant find somebody. That makes more sense. 

Hello BP Community!

I'm excited to announce that my wife and I have tried to buy our first duplex to do a live in flip/house hack. I say tried because we were outbid. Though we were out bid I'm happy because this is the first actionable step we took toward changing our future. We decided our max before making our offer and made sure our decisions were not emotionally based. I want to thank many of you that have responded to my questions and for the words of encouragement. This will not stop us and more than ever we are excited to move on to the next possibility. 

Thanks again!

Hi @Amy R. I hope you were able to connect with some people while you were here and if not maybe somebody over the phone soon. Cincinnati has many great markets to invest in. Unfortunately I'm not at that investor level yet to provide experience that would be helpful to you. I do want to welcome you to the Bigger Pocket community! Best of luck to you!

@Jonathan West typically yes. @Nathan Currier-Groh is correct. Property owners typically cover water and sometimes heat. This is the 2nd time I have seen this question and though water is typically paid for by the property owners I think there is a growing trend on putting the cost back on to the renter. Check out this BP Podcast, "Thriving in a Multifamily Investing (Even in a Hot Market) with Michael Becker Sept 27, 2018" Then check the 54:30 mark on that episode or listen to the begging of this line of questioning Brandon Turner and David Green ask Michael. Michael talks about increasing the value of the property using water meters. Hope this helps.

Excellent! Thank you @Rob Mcclellan. This made things a little more confusing actually on how to wholesale in Ohio. From what I gather is seems like a no. I'm glad I have some information on this subject. Thank you! It seems like the three of them are anti investor. It appears in their eyes wholesalers are taking advantage of the seller. Though this could be true in some situations they don't seem to leave the door open for another perspective as wholesaler and seller working together to get the property sold. The emphasis is on ownership and if you don't own the property you cannot wholesale it. Holding the contract seems to be a big no no in Ohio. 

Thanks @Allan Smith for helping to clear this up. I often hear this but couldn't quite figure out how one relates to another. But this is good help! Thank you.

Thanks for the response @Allan Smith. Initially when I thought about investing I wanted to do it all with a focus on wholesaling. However the more I looked at wholesaling I learned that It has skills sets that I'm not proficient in just yet. Also Ohio has a weird law where it is not legal to wholesale. Too many obstacles to start with so I decided to educate myself more and question what I don't know or understand.