All Forum Posts by: Robert Rayford

In the first 14 months of starting my R.E Investment Company I was able to purchase, rehab, flip or hold a total of 11 properties all self-funded. It has been an interesting journey to say the least. I started like most new investors except the fact that I am a General Contractor and have been remodeling properties for others investors for 30yrs. I read everything I could get my hands on and watched all the videos/webinars. After attending some of the free “get rich in real estate” seminars it became clear that I would have to come up with my own system for R.E Investing and Rehabbing. I rolled the dice and bought as many properties as I could buy through cash, cash w/carry backs, seller floats, mortgage wraps and leveraging deals. I boarded up the properties in the slower markets, I started rehabs on properties as each market dictated a good return. Sometimes I would flip a new purchase right away if the market was right, thus leaping over a property bought prior in the year. I studied past and present projections, I now understand the timeline of the market rise from the West Coast to the Southeast. Oh, I should mention that I flip homes in Las Vegas NV, Jacksonville FL, Tallahassee FL and in the Bay Area California.This year’s goal is one flip a month and with a 3yr plan of 5 flips per month it has become evident that a lending partner is needed to achieve this. Self-funding projects can only take you so far. Who knew that a $18k first investment would produce a volume of 7 figures in 2 yrs. 

In the first 14 months of starting my R.E Investment Company I was able to purchase, rehab, flip or hold a total of 11 properties all self-funded. It has been an interesting journey to say the least. I started like most new investors except the fact that I am a General Contractor and have been remodeling properties for others investors for 30yrs. I read everything I could get my hands on and watched all the videos/webinars. After attending some of the free "get rich in real estate" seminars it became clear that I would have to come up with my own system for R.E Investing and Rehabbing. I rolled the dice and bought as many properties as I could buy through cash, cash w/carry backs, seller floats, mortgage wraps and leveraging deals. I boarded up the properties in the slower markets, I started rehabs on properties as each market dictated a good return. Sometimes I would flip a new purchase right away if the market was right, thus leaping over a property bought prior in the year. I studied past and present projections, I now understand the timeline of the market rise from the West Coast to the Southeast. Oh, I should mention that I flip homes in Las Vegas NV, Jacksonville FL, Tallahassee FL and in the Bay Area California.This year's goal is one flip a month and with a 3yr plan of 5 flips per month it has become evident that a lending partner is needed to achieve this. Self-funding projects can only take you so far. Who knew that a $18k first investment would produce a volume of 7 figures in 2 yrs. I am currently looking for a Lender, PML or Funding Partner that has a asset based product or asset based program that lends to a LLC.If you are interested in great returns for your money or would like to team up with a fast growing R.E Investment Company please send me a PM.

Believe it or not you can just list his company's name or his name and address on your tax filing. I've done this several times when a sub won't reply to a W-9. But always refer to your tax pro.

@Sean Richway, I will PM you.

@Sean Richway, Do you do asset based refi's ?

PPP=No prepayment penalty 

PP= purchase price.

He has a full bio on Linkin, I would start with the social media sites, find his page and friends. I would ask for my belongings back, before I start a info campaign geared towards his friends and family members. If he is a thief then everyone should know it. File a police report first. He may contact you after that.

@Michael Coxen, Thanks for the heads up. I look to see what Mr. Buffett has to offer. 

@Francis Rusnak Here's one for thought. Back in March 2016 I bought a property that contained 2 homes on one lot for $34k, 1 in the front and a smaller home in the rear w/ally access. These homes on the lot show on the APN map and approved structures. I proceeded to rehab the front house and was able to get the property under a resell contract for $119k with the closing after the rehab completion of the rear home. The rear house rehab cost $6500. One day I got a call from L.V Police Dept stating that a neighbor called them to complain of a squatter in the rear house. The night before a lady broke in and tried to move in, very important to know your neighbors, they can keep a eye on your property if your absent. I didn't want the lady to be arrested but the officer insisted. About a week later while in Florida checking on some other property flips I had going on I got a call from the same neighbor telling me that my rear house burned down the night before. The first thing I thought was that the workers did this, but after some conversations it was determined that the fire started around 4am. So did the squatter come back or fireworks, it was the week of 4th July. It really didn't matte,r I just saw my money go up in smoke. Insurance companies don't cover vacant homes especially ones that has been vacant 3yrs prior. Builders Risk insurance only covers what you have in a rehab not the value of the home. Well after doing some pencil work and getting estimates from local contractors $50k, it became apparent that I was going to lose my ( you know what on this one).  Luckily, I own a General Contracting Company in Cal, but after doing the math I was still going lose by bringing my crews out to Vegas for a 3 weeks. So, I put on my boots loaded one of my work trucks and got to work. I torn down and built the house myself. Keeping the drywall, painting and flooring for the subs. Most investors will not have this resource and would have lose big time. So to your question.... Yes flipping can be dangerous in many ways not only by bad rehab numbers or inexperience sometimes we get hit by the unforeseen issues

@Raymond Hill, What you will actually need is a LLP not a LLC. When you are in a partnership a LLP gives each partner singular protection against the actions of the other members in the partnership that act in a negligent manner . A S Corp is considered a type of LLP in some states. You are going to have to sit down with a CPA and figure what type of tax structure your partnership will need.