All Forum Posts by: Mike Roddie

Have done a few personal buy, flip and hold and move on to the next and interested,in getting into some flips and maybe holds outside of personal.  Also live in Cypress and interred in advice.

Thank you @Brian Foster for the response.  It is right on the edge of the 500 year flood zone and no flood zone so that is definitely a plus.

I know that it is recommended to look at paying no more than 70% of the ARV. However, given the potential additional complexity of a home having flooded, does this % hold true or what additional considerations should be made in purchasing a home in a post flood situation (house ONLY flooded during Harvey and not in any previous flood, mold remediation already taken place)

Thanks @Account Closed, appreciate your insight.  Will get with our current CPA who does our business taxes and see if she is proficient in real,estate taxation and go from there since she know the rest of our finances!

I Am new to Biggerpockets and somewhat to real estate.  I remodeled one home, sold it and purchased another and have remodeled that and now have a second home that I will begin remodeling soon.  In addition I purchased a house for my daughter for college and since she has now done with it I have leased it out through a Property Management agent.  I am not sure if I should set up a legal entity for the current properties (excluding the primary residence) and for future purchases/flips/investments.  Please advise.