All Forum Posts by: Karen Salem

@Matt Calhoun I’m not quite grasping this. I’d like to buy in your area BTW

@Matt Devincenzo you’re right. Finding that isn’t easy. Even contractors who came highly recommended flake out on me sometimes and I’m in a new area where I just moved and don’t have a relationship with any contractors now

1)Drill several holes using large bit  

2)Pour kerosine in holes 

3)Light on fire

4)Let smolder and slow burn in controlled manner 

That’s a very nice fence. It deserves a automatic opener. You can add a DIY solar gate opener kit and buy it at tractor supply. It also comes with a key pad and you call your non emergency police station number and give them the code for emergency, fire and police. This will add value and a safer environment for your tenants 

@Taylor L. Thanks Taylor for your insight. Everyone made this sound so easy. It’s not. I’m a Florida Real Estate Agent so I constantly come across deals and wanted to take this money out of the stock market since I know nothing about that and put into buying a rental. I’m getting a lot of conflicting information about the rules. First, someone told me you can’t manage the property yourself and would be required to hire a manager. He’s saying not true. That’s good because I want to Manage. Second I can’t conceive how I’m supposed to pull off doing a renovation with out picking finishes and buying materials. Maybe I am supposed to select and give the contractor a list of things to buy. IDK I thought I’d spent enough time studying this and was ready to go but now I’m hit with a whole set of obstacles. I’m really not a hands-off type investor. I’ve always renovated, managed or sold my own properties just fine.

@Jeffrey Evans oh baby Jesus! I can already see her glaring at you for posting this with her picture on your profile.

While trying to set up a self directed IRA for real estate investing the rep explained to me that I can't go to Home Depot to buy building materials. He said I " You have to stay out of Home Depot" OK, not off to good start with this guy! I'm like - this isn't gonna work. I purposely live 3 minutes from Home Depot for a reason. He actually thinks I'm going to let a handyman select finishes? He went on to suggest that I have the contractor start a job buying everything he needs for the job with his own money and bill me later and then send him a check through their online interface. - Not gonna happen -

They don't give me a checkbook or a debit card! OR he said to give him a big check upfront to buy everything he needs and I'm like, no I don't think so - I'll never see him again and the rep having no experience as a flipper had no clue how to go about paying for Home Depot materials with out giving the contractor Cart Blanche. He finished by telling me a self directed IRA might "not be a good fit since I can't trust my contractor". Ugh! There MUST be a better way. I need a recommendation for a custodian who is experienced in doing renovations using a self directed IRA and patient enough to explain how to work it. Thank you in advance.

@Vanessa Roca learn from @John Fedro how to flip Mobile homes. You can get started with as little as 10k and make some pretty decent returns.

@Steve Kim I would go look at the older C class buildings and update units to increase the overall value of the property and then refinance. Don’t pay for the previous owner over priced improvements. Don’t be quick to dismiss low end rentals. Looks like affordable housing is about to be the the hot commodity and new normal heading into 2021

Hey guys! I'm in Palm Coast and although I am a Real Estate agent I'm always open to single-family or manufactured home deals from wholesalers. Volusia, Flagler, and St Johns County. Please reach out and add me to your list.