All Forum Posts by: Joel Phillips

What if properties are wholesale prices?  3% of those prices?  and what do you mean by 15-20% for overseeing construction?

@Dennis Weber 

Welcome to BP, neighbor.  This is a great resource!  I see many great places to start listed above.  I started about a year ago, and my wife is a real estate agent.  

Best of luck!

-Joel

I have a friend who is a realtor, but also does investing on the side.  She is working with a couple out of state investors that are wanting to buy, renovate, sell and hold properties in our local area.  They have contacted her to do all the work while they do the funding.  What is typical to charge an investor for these tasks?  A commission?  a flat fee?  a certain percentage?  hourly rate?  She would be finding these properties, researching them and then using their money to purchase them, being the onsite contact for the properties, possibly working with the contractors, handling paperwork, doing showings, and listing on the back end if they are selling.   Your suggestions are much appreciated!

@Steve Cook check out active BP member and real estate attorney @Jynell Berkshire .

welcome @Terri Snider . I am a new investor. we just rehabbed a house not far from you on the northwest side of 465. we just listed it and my wife is studying for her real estate license so she can list properties for us in the future. anyway, welcome to the community. this is an amazing resource! best of luck to you!

@Shannon S. Welcome to BP, neighbor. I'm fairly new to this as well. Have my first fix and flip house on the market. rough time of year to sell especially with this weather, but it'll turn out well here soon. there are some local meet ups that are helpful and good for connecting with local investors. best of luck!

beginning my first rehab house (about 2000 sq ft house, 2 story on a slab)

I walked through the inspection and took tons of notes. I have my list of projects and a budget. My question is this:

The A/C and Furnace are original (1992), and both seem to be working properly when we tested them.

Is it worth it to replace them? do you get a return on investment? Options include replace with new equipment, or replace with used but good condition equipment, or leave it.

thoughts?

@Danny Rigdon

Welcome to BP, neighbor. great stuff here to study. let us know how your Real Estate investment plan develops.

welcome!

I'll be there. Another cheap option I've done for meetings is ordering some $5 footlongs from subway, a few bags of chips, etc. nothin fancy.

see you guys for lunch a week from today!

Welcome! I'm from SD and miss it often. I still visit family there annually. We are in the Midwest now but hope to get back there later in life. Good luck! You have found a great resource and community here on BP!