All Forum Posts by: Michael Hill

Hello from the Peach Family!

Yes, that is our last name (my wife is from Georgia no less). We live in the Evansville area and hope to become pro flippers and be financially free because of it. Any good advice out there? We are all ears!

Happy Flipping!

The Peaches!

All,

My name is Nolan Sanburn and I am a professional baseball player with the Chicago White Sox. As thankful as I am for the incredible financial opportunity baseball has to offer, I also realize that my professional playing days are numbered. So for that reason, I want to begin building my real estate portfolio so when I am done playing, I will have accumulated enough rentals that create the cashflow that will surpass my financial freedom number and  I will not be forced to shift right into the work force when my career is over. I am looking forward to being apart of this great online community and I love the educational aspect of the podcasts as I listen to them while I am working out and when I am driving in the car. I am excited to get started and to begin learning from other more advanced and educated individuals in this community and forum! 

Sincerely,

Nolan Sanburn 

Hi, I'm wondering if it is illegal or if it is simply not a good idea to get a loan from say Wells Fargo, put it in my savings account and sit on it for a couple of months and then use it to help pay for a 20% down payment on a potential rental property? 

I am in the process of starting my own wholesaling company and have run into a few minor bumps, I was wondering if you could take some time out of your busy schedule to answer a few questions. I am unsure where to get an assignment of contract and how to fill it out so it is a legal document. I am in Indiana. I also am wondering if it's better to do a simultaneous closing or use the assignment of contract. I have a buyers list and am currently marketing to distressed homeowners to find deals. If you could help me out I would greatly appreciate it.
-Alex Forrester

(ARV x 65%) - Repair Costs = Maximum Allowable Offer. What do you do if the math makes the MAO so ridiculously low that the previously "motivated" seller becomes not so motivated? Example: ARV $162,000 X 65% = $105,300 - 28,312 (Est Repairs) = $76,988. I believe the math is the math, but that doesn't necessarily make the seller (Individual or Bank) take your offer seriously. Note: Despite the seller's attitude toward my offer....I am very serious when I make my offer. Any comments would be much appreciated.

Does anyone have any recommendations on who or where to go to get a professional design for a company logo and how much one should expect to pay for such a design? What have other people done and how has it worked out for them?

A home inspector will look at all of the individual systems of the house and give a evaluation of each. If something out of the ordinary is noticed, yes they may recommend to bring in a qualified contractor for that particular system for a more exentive inspection/recommendation for repair. It will be very difficult to find, let alone coordinbating all the individual contractors to the home at the same time. My advice, get a home inspector first.

Currently a 24 y/o, Registered Nurse.  Seeking advice to start flipping houses and owning multifamily properties to secure my future.  Seems like a logical investment for my retirement.