All Forum Posts by: Jared Anderson

Recommendations for General Contractors for fix/flip in Houston area?

Should a wholesaler have proof of funds letter and an offer letter or is the purchase and assignment contract good enough?

I am in Texas and I have a purchase agreement from the Texas Real Estate commission.  I am wondering where to find a good assignment contract.  Is an online company like Legal Zoom going to provide a perfectly fine contract?

@Michael Dumler If time allows in a slower market and the property they are dealing with looks a bit more rough, is it typical for a flipper to have a home inspected before going under contract?

I will present this same question to a lawyer but just so I have an idea going into that meeting please help me with the following question.  

What is the best business entity, for liability and tax purposes, to have a fix/flip business under?  

Are there certain strategies flippers use to get the best tax breaks?  I am aware of the 1031 exchange, I was curious if there were more.

I am in Houston, TX for location specificity.

Is it typical for a flip deal to have the deal contingent on a favorable home inspection to protect the flipper?

Hello, let me start out by saying I truly admire what house flippers do. It is what I want to do someday. I say "someday" because right now I'm looking to build a relationship with someone in the Houston area. I will be joining a REI club soon to meet people.

I know that it is rude to ask to learn from someone without offering something in return. I want to learn what is certain investors are looking for so I can go out and hone my skills by helping them find deals. Other than this route, if you are new to REI what is a good way of providing value to an experienced investor?

 I want to fix and flip but I know that is risky for a newbie.  I heard the best way to start is either partner with someone experienced or wholesale to gain experience.

I realize I phrased my question wrong.  I meant to ask: Do most new people start fix and fix journey with hard money or private lending vs. going some other creative route?

When trying to complete your first fix/flip, do most new people use hard money or private lender?