All Forum Posts by: Thuy Pham-Satrappe

Any best practices on getting a lien release waiver signed when paying for work on a job that is not local to you? I've been sending payment via PayPal. Finishing up my first flip. Thanks in advance!

In your flips, do you go with the less expensive (but less efficient) furnace or spend the extra $1,000 for the highest efficiency furnace?

Flipping in Indiana where it can get very cold.

Wondering from a resale perspective what the ROI would be for one over the other?

Looking for recommendations for a SFR in Orem Utah. Thanks in advance!

@Tom S. I completely agree! I would only use the credit line for the rehab process and then pay it back once we resell the house

@Nick G. Can you move them between different credit card companies? For example I have a Barclays card with a high credit limit but can I move that to say a Capital One credit line?

For those of you who open a separate LLC for each flip property, do you open a separate bank account for each as well?

If so, do you close the account after the property has been sold? Do you open credit lines or anything like that? I'm leveraging credit cards to pay for materials on my flips and was curious how that would work.

Learned something new today and am super excited to share!

If you have multiple accounts with the same company (for example, a Southwest credit card which is through Chase and a Chase Freedom Card) you can consolidate your credit lines so you can access whatever rates/offers are best at the moment!

I just put an offer in on a deal I wasnt entirely sure how I would fund and the extended credit line will allow me to do it (assuming my offer is accepted).

@Jeff Piscioniere that's interesting because my issue is refinancing a buy and hold in the sense that in the time it takes the seasoning period to pass, I feel the opportunity cost of the money being tied up is greater. I initially purchased a property with the intention of renting it out but the market has been so hot with lots of opportunities for flips I decided to flip that property instead. (I weighed out the short-term vs long-term benefit in each scenario and the short-term won out in this case).

As far as taxes go that's definitely something to consider because it's taxed as active income on a flip compared to a buy and hold which has more favorable taxation.

Good luck to you!!!

@Nick Giulioni I'm brand new to this so diversification isn't a huge issue yet, although that is partly why I want to mix it up with a buy and hold between every few flips.

I turned what was going to initially be a buy and hold into a flip because of the opportunity cost of the money being tied up in that property while I wait to get it refinanced because the return on that particular property was ok, but the use I could put the money to in the meantime was better according to my calculations.

@Paolo Agostinelli great point!