All Forum Posts by: Jon Reed

Contact your local city permit office and find out... also make sure the lot isn't part of any HOA or has any neighborhood restrictions.

That is exactly what I was going to say! If you have enough money (and don't care about ROI) you can get to 10,000 units in 30 days :P

I agree with @Jaron Walling! In our experience the most important skill to have is knowledge on what a rehab cost should be. You can lose a lot of money on a deal by not know how much a plumbing repair should cost or how much a new roof should cost. Even if you get 3 bids, you may still end up over paying because they realize that you have no idea what it should be.

Go out and network with other contractors and flippers in your area and start asking them how much they are paying for major repairs and just grow your knowledge base.

@Anthony Dooley comment +1

Also... if you plan on starting a business with anyone (especial friends or family) make sure you create an LLC and have extremely thorough articles of organization that outlines what you will all do when poop hits the fan (getting sued, one person is working more than the others, one person has put in more money than the others, someone wants out, you go into bankruptcy, etc).

@Zachary Rosa Have you ran the numbers to see if splitting the master bedroom into two bedrooms would increase your property value or rent rate? I would first check out the ROI of splitting that room before doing it.

Hello! 

I can not speak much on the liability insurance policies since I do not have one myself. We have gone the route of getting a single umbrella policy that covers my wife and I personally. I believe it is a $1 or $2 million dollar policy that protects us in the case of liability suites. We keep the coverage amount greater than our total net worth since the umbrella policy is shielding that sum of assets.

@Scott Hickey

This is our third tile using concrete countertops and they are sealed with something called AquaPoxy which is a water based pox you. They do not stain or absorb anything and are as tough as concrete! Lol

@Kyle Tipton

No we are in Springfield MO

@Jessica Franco

My last post got deleted because it mentioned our companies name... but you can find photos by checking out the links in my profile.

Nope... so far they are all garbage in our area. The same home can be located just two blocks over but that area may be a D neighborhood compared to the B neighborhood the property is in.