All Forum Posts by: Rene Hosman

@James Dainard I just took on my first flipping project and I used a hard money loan for 100% of the purchase price at 15%, I'm paying for the renovations in cash. I don't feel like I weighed all my options before purchasing because I was on a tight timeline - so for my next deal this is my question for you: If you're just getting started on your first flip and you had ANY funding source available to you - what would be your recommendations of top 4 funding sources in order of your preference?

If you had one question for a professional house flipper, what would it be?? 

Now is your shot to ask! James Dainard is a prolific professional house flipper, with a track record flipping nearly 4,000 homes in one of the most competitive real estate markets in the US - Seattle, WA. To celebrate his new book Flipping Framework, he's taking questions from the BP community and answering them here this weekend!! 

Want to get more of your questions answered about starting your first flip or building your flipping business? Check out James' new book Flipping Framework on sale THIS WEEKEND for Black Friday. Get your copy at the best price ever, right now here!

 Thanks @Jonathan Greene ! Robert could you message me here or email [email protected] and tell me what promo code you’re trying and I’ll work to get this resolved for you?? 

 Yes for sure! A great opportunity to evaluate a deal yourself and then see how a pro like Dave evaluates deals and see if there's any insights you might not have picked up on yet. Did you have a chance to submit a deal on the form above yet??

 Yes if you have any deals you're looking at to get a second opinion and hone your skills of deal analysis I highly recommend submitting a deal for Dave to maybe review. The more details you can give the better, and don't skip the questions about your goals because that's important background information. 

If you're just starting on this journey I might also recommend two more things to you

1. Set for Life by Scott Trench

https://a.co/d/51cIiA1

Starting with the fundamentals of personal finance will help ensure you have confidence and are able to withstand the risks of real estate and also set your self up to be able to take advantages of what investment opportunities come your way

2. Start with Strategy by Dave Meyer

https://a.co/d/8u2CtKy

I read this book in Sept and it seriously changed the game for me. I recently purchased the red planner workbook that goes with the book and I’m skimming the book again filling out my plan in the workbook. It’s easy to get caught in analysis paralysis when thinking of deals and opportunities and I cannot overstate how much having this book help me with my personal roadmap has aided in my journey. I was feeling paralyzed making decisions about what to do, and no joke within 3 weeks of finishing this book I had decided on my next step and was under contract on my first flip property!

Both of the books are available in audio, physical book, or kindle format and are on sale for Black Friday right now at the amazon links I listed above!!

 Hey Dennis! Have you checked out the BiggerPockets market finder tool? Investing is such a personal decision, and I certainly think you did the right thing by starting with your own research and then reaching out to the community for input. This tool may help you take a deeper look at markets and maybe find markets that are you to you as well. Combined with the deal finder which will show you actual listings in the market once you identify the market, you can take a lot of the guesswork out of your research!

https://www.biggerpockets.com/markets
^Market finder tool

https://www.biggerpockets.com/deals
^Deal finder tool

 Good question Steve

I made the choice to leave up the posts, if there's something that seems like grave misinformation please do reach out to me and let me know. Otherwise, all of the comments I read when I did spot checks seemed appropriate even if they're not conventional suggestions. The only posts that were removed were posts that broke the rules like self promotion.

I think it's important that the forums remain a place where different viewpoints can be expressed and discussed in an informative way. The user in question is not the only one to express sentiments like "Section 8 tenants are actually really easy", that's an opinion that is not unique to one single person. Is it true for everyone all the time? Perhaps not. Can you disagree with that opinion? Absolutely!! In fact if you disagree with some of these comments, I would highly encourage you to reply to them with your own experiences and opinions as well. And then everyone can make their own judgement with the information presented

That's what makes our community here so great, the diversity of experiences and opinions, and allowing anyone free access to see and participate in the discourse and make their own opinions!

Quote from @James Wise:

Recently a prominent marketer of Cleveland rental properties and property management services named Bob Prisco was exposed for being less than honest in his business dealings and posting activity here on BiggerPockets. Bob went to the extreme extent of actually using an alias of Bob Stevens instead of using his real name, Bob Prisco.

We do not need to re-litigate the facts of his behavior and all of the other inconsistencies in his communications. All of those can be seen in the thread linked below.

Who is Bob Stevens AKA Bob Prisco and what's his involvement in Cleveland?

Having said that, another BiggerPockets member has discovered some new information that I find to be incredibly important information. I think it would be a disservice to all of the consumers who utilize BiggerPockets to learn and network with professionals and service providers to not have this new information given to them.

Bob Prisco (aka Bob Stevens) actually utilized a 2nd BiggerPockets profile from 2018 to 2020. You take all of the inconsistencies from the previous thread, combined with this 2nd BiggerPockets profile utilizing his real name and claiming a massive years of experience discrepancy. Wow. It's crazy to me that someone would buy a property halfway across the country from a man who appears to have lied and contradicted himself over his entire real estate sales career. 

If a man lies about his name, how long he has been in business, and the very nature of his business, what else is he lying about?

 Hi James! This was indeed discovered by the BP team last week when all this information came to light. 

I believe this situation was handled in a way congruent with BiggerPockets values and ethos - information was discovered, we gave the user in question an opportunity to respond publicly to the allegations, other members of the community chimed in to make comments and ask questions of their own, I made the decision to close the post because I believe many of the top viewpoints were discussed and I didn't want it to turn into shameless trolling with no additional value, that whole thread remains up for community members to view into the future for transparency and anyone who reads it can form their own opinions with the information presented. The user in question was subsequently banned from the forums for a second time, they reached out to me directly to dispute the ban but as of now the ban is still in effect for breaking the rules of the forums. 

So as to not rehash everything here again this week I'm going to lock this post as well because I do feel that the information that needs to be available to the public to make informed decisions is out there, and I don't want this to turn into trolling with no educational value to the community. I will leave this post and the previous thread up for transparency purposes. 

If you or anyone else has any comments or questions or if you feel like you have more insight that could be valuable in this situation please reach out to me personally here through PM or at [email protected] 

Thank you all!!

 I'm not understanding the part where you say  "so that when it sells you can show $0 income upon selling the commercial property?" Can you elaborate on what you mean here?

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