All Forum Posts by: Jared Lichtin

@Mark Smiley, I actually do equity partnershpis with friends.. When I have big deals and I am strapped for cash, they loan me a couple thousand with a good interest rate, or a percentage of the deal. Is there anyone you know with an IRA that would like to get a better ROI than in the stock market? If you guarantee them a 10 or 12% return, that is almost always more attractive for a 6 month timeline, even if they are loaning you 5 or 10k. Also, if you network with other local investors, they almost always have cash they would like to use to be an equity partner in a deal, especially if you use workers that they are comfortable with. Hope this helps.

yes, definitely network with other investors.  even if you are newer, they can usually point you to better lenders who are more professional, quicker, and have better rates.  

@Eric DeVito I wouldn't rule out Pittsburgh.. Working in oil & gas, I can say that they have an amazing rental market.. I guess you'd have to contact an agent to know which specific areas.  I was always down in Washington.  I wouldn't look down there, but closer to downtown Pittsburgh the prices are crazy high right now!

I agree with others, make sure your listing price is right.  If it is your primary residence, it is all about your current financial situation.  I would contact more than one agent and get their opinion, especially on your specific subdivision.  The appreciation would be nice, though.  Again, I would say the main thing is depending on how much money you have in it, and (also) how much of a hassle it would be to rent out.. that is, if you're moving out of state.

Wow, that's a great place.  Did you end up wholesaling this to another investor?

@Ronald Hunt, what sort of homes are you looking for? Do you typically deal in just Indianapolis?  I have a buddy that is looking for a place in Bloomington, and I was trying to explain what the options would be for either renting or live in flip type situation, but I wasn't exactly sure what the market was like over there.  

An agent shouldn't be saying things like that.. I'm sure there are deals somewhere.  There's always deals out there for agents who are aggressive and smart enough to find it.  I would try to find another agent, who is maybe more used to dealing with investors.  Or, possibly look at a closer community within 30-60 minutes of you with more people, or a better housing market.

Congrats, man!  Yea, I would love to see some pics.

Awesome stuff, man.. Keep it up!!

I may be moving to Houston soon for work. I am 50/50 on whether I should sell or rent my house. I flip houses part time, and selling my house right now would probably net me about 40k. I don't "need" the money right now, but I am doing the math with the rental option and I feel like I could net about 100k by renting out and selling in 4 or 5 years, or just get my down payment and change back and selling it. Numbers below. I do not own any rentals but I think I might want to pick up a few this for the passive cashflow. This seems like a good rental deal. What kind of tax benefits am I looking at? And do you think this is a good deal? The house is fully functioning, pretty much everything is brand new now. Any advice would be much appreciated. Purchase-183,000 (appraisal came in low so we had to renegotiate, so I got a good deal and put more down, was in contract for 202,000) 32,000 down Could sell now likely for 190-205,000 without an agent Mortgage balance 147,000 Monthly payment: 1,030 Rental market value: 1600-1800 (have confirmed this with several agents. There are zero homes for rent in the area, as I live in a very good school district, so could put a renter in there very quickly.)