All Forum Posts by: Mike S.

I am looking to get started on my first flip in Chattanooga and wanted some contractor recommendations. Appreciate it!

@Lane Kawaoka congrats! Is that Silverstone Apartments? Thought the current owner bought it for $5.5 million just last year.

@John White is an excellent broker for investment properties!

Ditto on @John White! Great realtor

I recommend @John White. He has shown me some off-market deals as well!

@Mahauijue Mack

Why don’t you transfer the deed to your name? It’s pretty easy.

@James Storey

Thanks James. That is a very nice way to evaluate it.

I would like to get everyone’s thoughts on hold vs. sell.

I have a property that generates a 20% CoC currently that I bought 2 years ago. Over the same time the property appreciated 30% and I can sell it and make a 2.3x on my initial investment.

How should I think through this? Would appreciate your thoughts!

@Jonathan Greene it is basically impossible to hit 1% in Madison. If anyone does, they hit a jackpot. All houses sub $150k sell within a day for over asking.

@Sharad Peterson to minimize filing fees, state taxes and reporting...I would strongly recommend incorporating the state where the property will be located. When I started out I created an LLC in Colorado to buy properties in SC and was a resident of CA, my accountant had to file a return in each state even though the taxes are not higher.