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All Forum Posts by: Jessie Redd

Jessie Redd has started 12 posts and replied 55 times.

Post: My tenant is in a coma. What do i do?

Jessie Redd
Posted
  • Flipper/Rehabber
  • Raleigh, NC
  • Posts 56
  • Votes 26

He should be able to provide you with some information from her doctor as well. 

Post: My tenant is in a coma. What do i do?

Jessie Redd
Posted
  • Flipper/Rehabber
  • Raleigh, NC
  • Posts 56
  • Votes 26

@Samantha P.

Have you verified that she is in fact in a coma? I’m sure you have verified it but just asking.

Post: Is it okay to ever waive the inspection?

Jessie Redd
Posted
  • Flipper/Rehabber
  • Raleigh, NC
  • Posts 56
  • Votes 26

@Simon Obas

No in most instances. If you are an experienced licensed contractor with years of experience you may be okay. Even then you may notice something outside your area of expertise and need to bring in an expert. It’s worth it to spend the money upfront and use the report as a negotiation tool if something is found.

Post: Corporate Relocation...Do I keep my house to rent or sell it?

Jessie Redd
Posted
  • Flipper/Rehabber
  • Raleigh, NC
  • Posts 56
  • Votes 26

@Adam L.

It looks like you will loose money on it if you rent it out. Since you lived in it you can avoid capital gains taxes. If I were you I would sell it if I had no plans to move back there at a later time.

Post: Tips on using quick books for self management of rental?

Jessie Redd
Posted
  • Flipper/Rehabber
  • Raleigh, NC
  • Posts 56
  • Votes 26

@Javier Cuevas Santos

If you only have one property I thinly you can get by with excel. No need to pay $25 per month for QuickBooks in my opinion.

Post: Do I have a case? Sewage back up in newly purchased home

Jessie Redd
Posted
  • Flipper/Rehabber
  • Raleigh, NC
  • Posts 56
  • Votes 26

@Diana Frasier

Did they mention anything on the property disclosure? I would also call the local plumbing or drain cleaning companies. If is bad as you say, they will have had it snakes out multiple times. If you can get evidence of this, they can be held liable for not disclosing.

Post: What Is Your Net Worth Or Passive Income Goal?

Jessie Redd
Posted
  • Flipper/Rehabber
  • Raleigh, NC
  • Posts 56
  • Votes 26

@Russell Brazil

10,000 passive income. I am almost there. I enjoy being financially free. I spent the last twenty years in the service. I missed a lot of holidays and birthdays with my family. I would say I am pretty much retired now so I get to spend time with my younger kids and my wife now. I invest full time. I came from an impoverished family so I enjoy being able to help out my family and community.

I am now focused on paying my primary residence off and continuing to acquire free and clear properties. I spend a great deal of my time mentoring my older children and others on their journey to financial freedom. This is something I will do until they throw dirt on me.

Post: What is the deal factor that immediately turns you off of a deal?

Jessie Redd
Posted
  • Flipper/Rehabber
  • Raleigh, NC
  • Posts 56
  • Votes 26

@Austin Sine

If my mother or wife wouldn’t feel safe coming in the house at night alone I won’t look at it.

Post: $10,000 SBA Loan / Grant

Jessie Redd
Posted
  • Flipper/Rehabber
  • Raleigh, NC
  • Posts 56
  • Votes 26

@Gregory Schwartz

Had anyone actually received it. Just curious.

Post: NEED HELP WITH SITUATION

Jessie Redd
Posted
  • Flipper/Rehabber
  • Raleigh, NC
  • Posts 56
  • Votes 26

If it's 1-4 units it should be the same as purchasing a SFR. I have seen lenders requiring a 640 or better credit score lately. You should be able to do 5% down. I would also look into to first time homebuyer programs as well.