All Forum Posts by: Mike Dmuchoski

Better used on flips vs. buy and hold.  Typically it's a short term loan (eg 6 months - 1 yr) at a high interest rate (eg up to 18%) where you pay interest only payments.  Often require a down payment (eg 20%) to ensure you have skin in the game.  Of course there are many variations so call around in your area.

There are also soft money loans geared toward buy and hold with longer terms, but I'm not very familiar with them.  

Some older homes with tile showers over time become functionally obsolescent.  I see 3 options to deal with this eyesore when flipping: 1) remove and replace, 2) clean the grout and tile, and 3) tile refinishing.

Has anyone had any experiences with tile refinishing?  Years ago it looked like a cheap coverup but I'm interested if the quality has improved.  Good bang for the buck?

@Manny B. There is a BP webinar next Wednesday hosted by @Brandon Turner on finding and analyzing rental properties.  That might be helpful for you to attend. 

Hi Greg, I'm fairly new to the valley as well and focusing on fix and flips. Sounds like you're doing all the right things to help prepare you, including getting involved on BP. Good luck to you on your REI adventure. -Mike

Welcome to BP, Dan!  You'll find a great network here.  I suggest listening to the podcasts...great way to allow for multi-tasking.  

For your first time, I'd just go with a positive attitude and an open mind.  Newbies get an intro from Alan Langston so you'll have an opportunity to chat with others in the same boat.  There are also several trades there and by listening in on others' discussions, it should lead into some networking. 

Enjoy!

I agree with Ruth's advice.  I think the issue would be regarding obtaining the required level 1 fingerprint clearance card.

Welcome @Marcus Nielson .  Another starting investor from Mesa here.  Taking a great step forward by joining BP.  Good luck and keep in touch.  

This is a great service, @Mohit Madaan .  I'm interested in the list but to make your life a little easier, it seems like I'm working in a similar market to @Andrew LeBaron .  Therefore I'd be happy to have what you've already generated for them.  If easier, I can also provide you with zip codes.

Many thanks.

Welcome to BP, Marc. There is a wealth of info and great contacts here. I just moved to the Phoenix area a few months from (north) NJ.

Good luck to you.