All Forum Posts by: James Palmer

@Sam Griebenow

Hi sam,

I would highly recommend not flipping houses long distance. Especially when you are getting started in the business. Also, the better you get at saying no, the better deals you will find. This is one to say no to. There are too many things that could go wrong with this. It's not worth it.

@Edita D.

I use hub city rentals , vanessa dirks. She is amazing.

@Austin Hughes This is really great content! Thanks for sharing. 

Hi Daniel

It takes a lot of patience to find a "flip" deal nowadays. I have done a few flips before in the past, and even 5 years ago, it took me several months to find something even close to being flip worthy. I was doing it all. Tons of we buy house signs. Meeting with realtors every week. But if you are patient, and consistent with what you are doing to find off market properties, one will come along eventually. Might take a little while though. Depending on how competitive your area is with others doing the same thing your doing to get a deal. It helps to meet up with any local investor groups like REIA.

Yes sir I am. 

@Cameron Lambo

Thanks for the response Cameron. I agree, with each deal, there are many factors to consider than just net cash flow. I was just wanting some generalities from the crowd. I dont think I would ever do a deal for less than 500 a month net cash flow. Even 0 down.

But to be more specific I guess of where I am coming from. My price range for duplexes in lubbock are no more than 200k. 20 percent down. The duplex I own, I got for 112k, 15 percent down. It nets 700 a month. If I was to get a duplex for 300k, i would certainly want more than 500.

I am curious, what is your minimum monthly net cash flow for duplexes that you consider when making a purchase financing?

Mine is currently no less than 500 a month net. My only rental property (a duplex in lubbock tx) has a net cash flow of just over 700 a month, which I love.