All Forum Posts by: Mike Arskiy

Great post Julie! We are able to run 4 different businesses with the help of VAs. 

Alnise, Kevin, thank you for your responses! 

But my question regarding LLC and/or home insurance is still in force. )) Let say, I'd hire licensed and insured gen.contractor for rehabbing. Do I need to open LLC and transfer deed to it or/and buy insurance?

Hi, first of thanks for all the great advice! I've been reading for a while and now I need some help with my specific case.

I am in PA. My first house flip. I am settleing on a bank owned house in the end of the month. Paid all in cash. For some work in the house I may use contractors with no insurance and no licence. What would be the best way to protect my personal assets? Transfer deed to LLC or home insurance is enough?

Thanks!

Russel, I don't have any idea why your post was removed. Can you please re-post? 

Thank you Bob for your comment! I plan to buy my first home for rehabbing and I'm limited in cash. That's why I try getting more info and opinions about 203K or Conventional Confirming. I know that licensed contractors will be overpriced but I hope to find good deal. 

Thank you Wayne and Richard! Wells Fargo mentions "Owner occupied" in 203k loan's description but doesn't specify how long I have to occupy this house. Do you know how long I must be the occupant?

WF also offers Conventional Conforming Loan (even for investment properties). Do you have any experience with this one?

Hi. I'm thinking about getting 203K Loan for my first flipping house. Do you guys have any experience with that? What are basic worries and possible troubles? Thank you for any suggestions in advance! 

Hi folks! I'm Mike. I'm living in Philadelphia's suburb. I lost my office job a month ago and decided to start my own home rehabbing business. Supported by my dear wife (who is financial specialist) I'm in the beginning of my long and hopefully successful RE Investments way.