All Forum Posts by: Beau Romstedt

I KONW I CAN BECAUSE AM A GC. BUT LET ME GET YOU A PHONE NUMBER SO YOU CAN CALL AND SEE.

THANKS LOVE THE INPUT.

Please keep us updated

I have had this  property for about six months I was told I could . The last property I payed the capital gains taxes. My situation is I'm a general contractor and I don't necessarily need the money but would like to use it to girl I well I'm pretty good at fixing flips does not know much about multi family.

    I have a paid off house and was going to use the profits to buy more fixing flips . But I recently found a 15 unit multi family. Should I 1031 change to this and go into debt or keep doing my couple fixing flips basically   Debt-free and risk-free

just like to get some opinions please thank you

I'm a certified installer for James Hardy it's super easy bud get on their website and they have all the instructions you need James Hardy.com

      OK I would like to get some advice I have a completely paid off house Proxima appraisal is about $134,000 I bought it as a fix and flip I was going to use the profits and go buy a  more fixing flips-but I found a multi family that is A 15 unit five vacancies 10 full rent for 675 a month this property owner lives out of the country. And there is massive potential to get the other five occupied quickly . And to conservatively get an extra $50 /100 a month Per unit  by doing minimum repairs and maybe just some basic advertising  . I don't exactly understand the 50% rule on cost? And with that go into play as me being a general contractor ? Would that apply?  So basically to  be debt-free single-family fix and flip  or going all into the multi family game and basically be 750,000 in debt?

Sincerely Beau.

YOU GET WHAT YOU PAY FOR. GOOD WORK IS NOT CHEAP AND CHEAP WORK WILL ALWAYS BE CHEAP WORK. ANY PROFESSIONAL HVAC COMPANY HAS OVERHEAD LICENSED INSURED AND BONDED WHICH COSTS MONEY. THEY HAVE TO PAY FOR THAT SOME HOW WHICH IS USAULY LABOR. NOT COUNTING HIS WORK TRUCK THAT HE HAS TO FILL UP TO DRIVE ACROSS TOWN. ON TOP OF HIS OWN PERSONAL TIME HE TOOK TO ANALYZE THATS PROBABLY WHY HIS LABOR WAS SO HIGH. BUT THERE ARE SOME VERY GOOD TRUSTWORTHY HONEST CONTRACTORS OUT THERE JUST TRYING TO TAKE CARE OF THIER FAMILIES.

I THINK ITS A LITTLE MUCH TO SAY TRUST NO ONE WHEN IT COMES TO CONTRACTORS IS A BIT FOUL .

oops sorry about that >

Colin thank you for your advice .Right now in the neighborhood the rent goes anywhere from $900 to $1200 a month for a three bedroom two bath. My house would probably fall into around $1000 a month with the updates I did. Would you recommend doing just one more product or turning it into two if you can find the right deal.

thanks