All Forum Posts by: Matt Rodak

I'll be there!

Ben,

Interesting proposition. I'm curious, how are you financing the properties while you are fixing them and holding them until they are sold?

Matt

Great thread for sure. The peer-to-peer lending option has made a movement into the real estate world offering more secure investment options. Just Google "Real Estate Crowfunding" and you'll find several reputable options for investing in real estate with smallish ($5,000) entry points. (must be accredited.)

Further, there are some great posts here on the BP community for RE crowdfunding giving analysis of most of the options. http://www.biggerpockets.com/forums/520-crowdfunding-real-estate

I myself am getting a RE crowdfunding platform started specifically for residential fix-and- flip properties and would be happy to discuss further the ins and outs of this relatively new space - in addition to what's already been posted on BP. 

@William Petrisko you might want to have a closer read of your insurance policy and speak with your agent. Most policies are worded with "repair or replacement" valuation meaning that the $80K they give you is based on you actually making the repairs. Most policies also include a provision that if you choose to not "repair or replace with like kind and quality" the valuation method used to adjust the claim is "Actual Cash Value". The ACV valuation is always less than the Repair or Replace as it is a depreciated value of the asset.

Keep in mind the intent of an insurance policy is that of a contract of indemnity, meaning it is meant to get you back to where you were before the loss - not better or worse off.

I would be particularly careful with this as the insurance company could take action against you or readjust the claim on an ACV basis if you proceed with any of these options.

Maybe you've already gone down this path and the $80K is based on ACV valuation...in which case ignore all of my advice :).

Count me in. I look forward to meeting you all!

Matt

Thank you everyone who responded! We had great engagement and really appreciate you all taking a few minutes of your time. We didn't quite get to 100 respondents but we decided to give out the $50 anyway!

I'm pleased to announce our winner as @Adam Menconi.

Adam I'll DM you to get you your prize.

Thanks again and stay tuned for the next one!

We're a few short of the 100 responses we need but I want to give this $50 away!

We're extending the deadline to end of day Sunday. Take the survey and send to friends. It's short and painless I promise!

Thanks,

Matt

That's right @J Scott . Good news is we're almost there! Spread the word! By the time you read through this thread you could have already completed the survey!Feel free to send the link out to flippers not on BP...as long as they are flippers.

Thanks!

Matt

Hello,

We're testing a few assumptions for a new product we're building for flippers. Do you flip? We need you and 99 others to respond to this short survey by end of day Friday! https://www.surveymonkey.com/s/XB7YCZN

If you've ever flipped a house you can help! It will only take 5 minutes of your time. If we get 100 responses we'll be picking at random one "flipping" winner who we'll paypal $50 to!

Spread the word!

Thanks!

Matt

Thanks for the emails and texts everyone! Just a few spots left!

I'm also interested in talking to wholesalers who do at least 10 deals a year.

[email protected] or 330-412-3828 to set up a time to chat!

Thanks!

Matt