All Forum Posts by: Jason Hill

Sounds like you are starting about the same way I did. I read up on J. Scott's books on flipping and rehabbing and then went out and purchased my 1st rehab. Now, I am on my 2nd rehab and hope to purchase 1st rental next month from rehab profits or refinance 1st rehab.

I did as much of the rehab myself as I could on rehab #1. My thought was to learn as much as I could about rehabbing work and price points of local labor and materials. So, I would recommend you learn as much as you can on 1st rehab, whether you have GC, use subs or complete work yourself.

From my experiences, GCs tend to be expensive and tend to be less flexible in scheduling and less understanding for the beginning investor. I would recommend to do rehab work that is comfortable for you and hire subcontractors for the rest. I believe this would help you learn as much as you can to prepare you to do next rehab and save you some money to increase profits incase rehab budget, purchase price and ARV is off.

I believe I tried to do too much of the work myself on 1st rehab and under estimated cost to rehab.

I believe the low purchase price will save me from my mistakes and allow me to make a profit.

Good Luck!

Fyi, I am investing in Topeka, Ks area.

I decided to go with an unsecured loan from my mother to fund rehab portion of 2nd rehab. I have to say it is scary getting loan because of not having enough money to pay rehab portion. I want so bad to sell the 1st fix and flip to get me some much needed confidence to know that I can do this and make money.

I have purchased, fixed and have for sale my 1st fix and flip property. I am short of cash to fix and flip my 2nd property. Would it be wise to ask for private money for mortgage against 1st fix and flip to fund the fix portion on 2nd property? If so, how have would one go about getting private money for mortgage.

@Brian Oney

@Brian Oney

@Rennie K.

Housing and Credit Counseling Inc website address:

http://www.hcci-ks.org/

This website should be able to answer any question you have about the landlord and tenant responsibilities in Kansas.

(Kansas Landlords Handbook)

If The Tenant Doesn't Sign The Lease

If you offer the tenant a signed lease which the tenant does not sign and return, then the tenant pays rent "without reservation", the lease will be binding on the tenant for its term or a year, whichever is less. If the tenant does express "reservation", then your rental agreement would continue as a month-to-month or whatever it had been before until you can agree.

@Roy N.

@Roy N.

Always great to hear a win-win for all sides!

Emma,

Where in Kansas are the rental properties? I am currently working in the Topeka, Ks area flipping houses.

Hello!

I would like to network with real estate investors in the Topeka, Ks area. I have (1) home in Topeka that I have remodeled and is currently listed and pursuing another home to flip. send me message if you have real estate investing knowledge in the Topeka area and would like to chat. Jason