All Forum Posts by: Stephen Collins

I have a concept I would like to turn into an e-business. The business would be run through an online web application. I have drafted up a small business plan, and started looking at expenses to get going. Obviously the web application  would be the most important part.

I called about ten web developers today, I spoke to about three of them. They took their time and listened to the concept. I received price quotes from $50,000-$100,000. I was shocked!

How much have you payed for a custom web application?

Who did you use?

...I am going to continue to shop around. Or even contact local universities to see if I can get a "knowledgeable" student who just got out of school to take on the project and see if I can get a more competitive price. 

@Brandon Turner How much did BP cost to make? Who developed the site?

With BRRR, what do most people use, a second mortgage, or do they refinance the original?

Thanks for the info! I close on my second SFR on the 27th of this month. I ended up doing 5% down conventional, and also had to show the 6 months reserves. I am planning to get as many units as I can with conventional loans, let them build equity, and then sell for seed money for newer/larger projects. Is there a general rule of thumb for debt to income when the banks will stop lending?

This new house should cash flow about $100 a month based on my analysis. It was valued at 115k, and I got it for 95k as foreclosure. Its move in ready after a good cleaning, and maybe some new paint over all the vibrant colors (unless you love "Auburn Orange").

 But you can use what the Best of the Best use and start making a difference TODAY!

Money orders bought with prepaid gift cards are hit or miss depending on the location. In my area you cannot do this as the money order needs to be bought with an actual debit card not a gift card. Not to mention buying 40 cards and 40 money orders must be a pain. It seems like the coins will not work either based off what others have said.

I am not advising any of this either, but with that said Bitcoin on the other hand, I think, is the best consistent alternative. Most Bitcoin sites allow you to do 3k transactions for about 1% in and 1% out. You can also do multiple transactions in a short period of time, it depends on the exchange you use. So you use your CC to purchase Bitcoins for 1%, and then sell your Bitcoin for USD and are charged another 1%. If you are extra paranoid about the cash-in-cash-out idea, there are online services that randomize your coins. For example if 100 people put in 100 Bitcoins, then they are all mixed up, and randomly redistributed (to a different online wallet for about 3%). These different coins can then be resold, more than likely no one would ever connect the trail. I would say on average this whole process could be done from a computer in a day or two, would cost you 2-5%. Again I am not advising this.

If I buy a multifamily property, for example at $100,000, using some type of seller financing, am I able to sell the property after X number of years even if I do not have the deed.

For example if I buy the property on a land contract (or other seller financing options), the seller keeps the deed, correct? If I keep the property for X number of years and collect the cash flow, keep the property in "average" condition and try and sell the property, can I?

Thank you BP.

The house is a 3/2 with 1662 sq ft, it sits next to Silver Lake and has a beautiful creek running through the back yard. I noticed I jacked up the number break down. Below is something a little more realistic.

This is a wholesale contract in the Military Town of Phenix City AL, 15-20 minutes away from one of the most important Military Bases in the country, FT Benning. The house is located at 4521 Linda Dr, Phenix City AL. It is in one of the best school districts in our local tri-city area, in an established, stable, beautiful neighborhood. It is 5 minutes from some of the best shopping, golf courses, and parks. I have completed a home inspection and can send it to you. The title right now is with Wells Fargo, who will be sending it to the VA. The VA is the seller of the house. I have been told this will take a month to resolve. Below are the numbers.

If interested please email me at [email protected] or you can call/text at C-(512) 966-8380

I just jumped in! I bought a SFH last year that is now a rental. I manage the property. Its about 10 minutes down the road from a house I just moved into to slowly fix and flip. Hopefully any gains from this house will be seed money for another deal in the future. My wife on the other hand has the mentality of the other 95%! Together I guess we make sound choices, its a balance. I read read read, I don't think I have ever been on information overload (unless we start getting into the weeds about taxes), in fact I would love the guidance from a seasoned investor. By no means am I experienced, or consider myself successful, but I got myself involved!