All Forum Posts by: Joe Threats

Ok BP I'm prepping for my first flip.... I will share what I have so far and any advice you may have please share. I've been wholesaling so I feel know how to analyze potential deals. I've been looking for my own leads and also working with local agents who've been sending me a few decent off market properties. I currently have my funds ready (hardmoney). My goal for the first flip is to simply find a property that only needs upgrades in the kitchen, bathroom, paint job, flooring and any other" small" items that will add value. As I continue to search for that first property my plan is to already have a few general contractors in order. Along with that already have a few places in mind I would get flooring,cabinets from etc. My question I guess would be what are some other items I need to make sure I account for well in advance? So I can have a great experience in my first rehab.

Thanks @Brendon Woirhaye will do

Ok so there's a property that's been rehabbed and on the market for 45k it was originally listed at 59k. 

I have someone thats wanting to move out of there current situation that is will to pay 800-1000 for per month for that exact property. I told them depending on what I get it for that could possibly happen. 

I plan on asking my parents to pay cash for this property so i could offer a lower price a close quicker.  What percentage should I propose to my parents? 

Thanks in advance! 

@Brian it's in Cutler Bay

Im using that same title company for one of my closings next week. 

Originally posted by @Thomas S.:

Unless yu can get thie property for much closer to 300K it is not a deal. Rents are too low.

I would pass. 

 Thank you...... being south Florida I thought that wasn't too bad of a price. 

Ok so I'm in visiting In-laws in Florida and came across a duplex. I'm looking for creative ways to possibly go back to the seller and possible get the deal done.

 Sale Price 365,000

Side A rents $1500

 Both are Section 8 

Side B rents for $1600

ROI More than 10 percent annually

Taxes Per $4200

Insurance $2900

I would really like to get my second buy and hold property but I'm wanting to know the best creative way to to purchase this fast. I'm thinking some type of seller financing options. 

Also should I ask to see her books? Thanks in advance for any suggestions! 

Hey BP Fam,

Great News just recently moved to GA from Texas back in Jan. started  learning the area here. Just last week I was able to put a property under contract! Posted it on a few sites and within 2 days I already have my contract assigned to my end buyer we close in in 3 weeks!   Here's my question to you. SInce I'm doing a double close what are some average lending rates for transactional funding?  Will I have to pay closing cost?  Also should I use the money to pay down maxed out credit cards or keep it for next deal? Any way it goes I'm happy I'm closing in on my first wholesale deal! I think this will help my momentum  for my business and confidence once I cash that check!   Along with that I've been renting out my home in Texas  with a cash flow of about 100 bucks a month!  

AMAZING investment opportunity! 4bed/2bath four-sided brick home in South Fulton! Home is in need of repairs, but could be an adorable starter home or wonderful investment property. Conveniently located near major highways, downtown Atlanta, and the airport

@Kim Ford Thanks Kim he told me he was another wholesaler who had a cash buyer I'm open to a JV deal but I haven't signed any papers.