All Forum Posts by: Matt Inman

If the numbers work then I would say do it.  If you are getting good deals, if anything happens down the road you can always sell and recoup your investment.  Just make sure the numbers are solid.  Get good comps and rehab numbers, don't try and estimate. :)

It really depends on the person(s), if this is something you have never done before then it can be a bit overwhelming.  I started with 1 at a time and am starting to Ramp up, I will have 2 rehabs going on in the next few weeks.  It helps to keep things organized, and keep track of everything.  With 4 of you it may be easier, just get a good separation of jobs and make sure you each know what you are responsible for.  My wife and I talk constantly about the projects and have a planing meeting on Sunday on what we want to do for the week.

You may also consider Wholesaling one of the properties.  If they are good deals that might give you some quick cash for one of the other projects.

@Andre Vaughn  welcome to BP.  There is lots of great information and great people on this forum.  Are you focusing on any specific area of STL?  Where is the property you have under contract?

Matt

@Ardie Mansouri  Welcome to BP!  Do you have an area you want to focus on?

@Anthony V. sounds like some great aspirations to me.  I want to be in a situation where I'm looking at that big of a pay day.  My buddy always says if the deal is that good the money will follow.  If you think it's that good shop it around, there should be a few investors in your area that I'm sure would give you their input, @Bill Gulley is close to you and very active on BP.  

Jessica,  sounds like a nice project you have there.  You didn't say what the square footage of the house currently is, but I'd say if the house feels like it needs some space the bonus area in the basement may be your best bet.  

But if the living room provides ample space, a fenced in yard would be appealing as well.  I think the fence would be more cost effective as well.

Hope that helped. :)

Matt

Mark, let me know if you don't get a response I know a few people that might be able to help you.

@Tony Smith Welcome, your are correct there is a ton of great information on BP. Just wish I had more time to go through it all.

@Ryan Dossey welcome to BP, lots of great information around here, also you may want to consider one of the local REI groups.

I like the South Side Investment Club.

Ryan, I also use Mike Finney at Shelter, he had great rates for us.

@Gunnar Teltow next time you shop for insurance you might want to try, Sean Wood with Weise Insurance. He likes to do 10 or more houses for investors and gets great prices. I have a friend who uses him for his 10+ properties.