All Forum Posts by: Brian R.

We moved from Lexington, KY last year in May. There we have a few flips and a few rentals under our belt. Columbus OH was a new market. I found a great Agent and started driving all over and asking lots of questions about neighborhoods and where the good deals are and where they aren't.

It took us about 6 months of making offers and being hesitant until we found our first Rental. This was a wholesale from a BP contact. @John Horner Then we bought a duplex in Hungarian Village from another BP guy @Dustin Faeth That one has not been the money maker we hoped it to be. We are thinking of of selling it. 

Finally, in January we found our first flip here. We bought it January 31. We bought for $83k. It took us 2 months to repair it with new doors, paint (inside and out), flooring, kitchen and bathroom. We spent about 27K. We listed for $150k and it went into contract on day two. We closed on April 24 and pocketed $31K. Lots of fun! Since then we have bought three more flips and one more rental. 

Here are some before and afters of the house.

Thanks for the contact Bryan L.

I need to find a accountant in Columbus, OH. He needs to have a specialty of Real Estate. Any recommendations? Thanks Brian

Thanks Jon Holdman

My wife's parents own 80%

My wife and I own the other 20%

It is my dad that wants to loan the money.

I am sorry I am not being clear. I do not control my llc. My inlaws do.

Can he just loan money to the business on an annual percentage?

The LLC he would be loaning to is owned 80% by my inlaws and 20% by me and my wife. He is my dad. Does that change anything?

My wife's parents and I have a real estate investing LLC. The parents are the majority owners. My dad is trying to convert his IRA to self directed. He wants to loan money to our LLC for flip deals. What are the things we need to be thinking about? Can he just loan the money for us to use? Does he have to be in the deed for each deal? Whose names does the property go in? Can he just be a lien holder? Thanks Brian

John Horner and I have been making plans for this very thing. We have been talking about some mostly agendaless. Meet people and maybe a time for each to talk about what they are up to or ask questions of eachother to help all invest better. We would certainly come.

We like to do double closings. We use the buyers money to buy from the buy and in turn sell to the seller at the new price. It costs a little more but our fee is "hidden" Of course if the people want to see the original price it is public info on the county auditors website.

However, most investors are fine with the fee as they are getting a deal brought to them as opposed to having to find their own deals.

I find that only owner occupants and/or first time investors might be leary of the assignment fee.