All Forum Posts by: John Hixon

@Jay Hinrichs

 I was thinking the same exact thing.  Complaining about a $1,000 - $1,500 investment to secure the placement of $20 million.  Seems very odd to me.  But, then again I do not have $20 million so maybe it is common place to ask for something like this when you have that kind of money.  

@Jim Sestito

 If you buy the Enterprise edition it comes without the houseflippingspreadsheet logo and you can put your own on it.  Just a little something extra to impress a potential investor.

@Jim Sestito

 I just started using it.  It is extremely impressive.  And, I think with the new update that comes out next month it will be even better.  Supposedly you will be able to integrate all of the information with Quickbooks.  

I think it would be especially helpful if you are planning on looking for private money.  Being able to take an investment packet to someone and have all of the information formulated the way the spreadsheet does would really make your company look first rate.  

@Canetha Amour

If you are going to be doing wholesaling or flipping you might look at an S corp. LLC's I have been told are better for rentals. Since wholesaling is a short term hold the S corp provides a better tax situation with the IRS. It helps prevent being labeled as a "dealer".

This is just what I have been told, so you definitely want to speak with an attorney.

There is also a BP podcast that speaks about this.  It was with a BP member who I believe was an accountant.

@Rocky V. Congrats.  That's an awesome deal.  Glad to see another DFW investor on BP doing well.  

@Michael Martin check out Fiverr.  I had my website built for $50.  It's nothing specials but it works.  Just check out the seller and email him to make sure he understands what you are looking for.

I was wondering if I could get some advice from people who know something about finance and investments.

I think most people on BP know that if done properly investing in real estate brings better returns then the stock market. So, I was wondering if it would be better to buy 3 or 4 rental properties (average price say $75,000) and hold those for 16 or 17 years and then sell some or all of them to pay for college or just put money away every year into a 529 plan.

Anyone have thoughts on this?

Thanks.

@Cierra Seay

 checkout 123flip.com @J Scott wrote a great article on this exact question.  

@Ryan Dossey

 That's not a bad idea.  I think a lot of new investors would like a scope of work attached.  It might give them a road map so to speak.  But, the only issue I have is what several large wholesalers in the DFW area do is they send a scope of work but the estimate is way off.  They might put down that the house needs $20,000 but in actuality it needs closer to $30,000 +.   So, that automatically gives them a bad rep in my book.  But, I guess as long as you can get accurate scopes it would probably be a nice addition.  Probably want to add some type of disclaimer about from what you saw this is what needs to be done.

I was wondering if I could get some advice from people who know something about finance and investments. 

I think most people on BP know that if done properly investing in real estate brings better returns then the stock market.  So, I was wondering if it would be better to buy 3 or 4 rental properties (average price say $75,000) and hold those for 15 or 16 years and then sell some or all of them to pay for college or put money away every year into a 529 plan.

Anyone have thoughts on this?

Thanks.