All Forum Posts by: James McGovern

Got an opportunity to invest in a property on Allison avenue in Memphis. What should I know about this neighborhood as an out of state investor 

I am a graduate of university of Connecticut in 2023. I majored in economics and started flipping in 2021. 

if you are ever in the Hartford CT area let's exchange information 

I have had excellent experiences with private money lenders in the past achieving loans at 9% with one origination point and no other fees. Likewise I had a horrendous experience with Conventus who left me hanging at the closing table

these experiences made me realize that I need more diversification in the lenders I do business with and need to identify hard money lenders that have low interest rates and no fees other than  origination. 

which hard money lenders fit this criteria?

11% for private money is very generous 

I got into real estate in 2021 while attending University of Connecticut majoring in Economics. As the job market is tight, I would encourage you to move towards flipping over wholesaling

Stephanie Liriano of Redfin was the listing agent for my last property sale. She of course delivered offer higher than asking and the marketing done by Redfin was top notch. Commission was 1.5% which was better than other agents in my area

@Aamir K Goriawala yea that was what I was referring to

You are correct the IRS doesn't care. The bigger question on splitting costs for each invoice is one of cash flow 

I would replace the hardwood treads. They sell the replacements at Home Depot 

Your estimate for plumbing feels very high. I would avoid property with foundation issues