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All Forum Posts by: Tim Johnson

Tim Johnson has started 3 posts and replied 641 times.

Post: Invest Nationally Buy/Hold or Flip

Tim JohnsonPosted
  • Lender
  • Grand Rapids, MI
  • Posts 703
  • Votes 446
I'm not in that market, I'm on the other side of the st.  We west side guys won't touch D-riot, its not for me

Originally posted by @Jon Sidoti:
@Tim Johnson

My sister just moved to Detroit and is telling me all about the potential out there. What’s going on out there??

Post: 25 year roof or 30 year roof

Tim JohnsonPosted
  • Lender
  • Grand Rapids, MI
  • Posts 703
  • Votes 446

They will never know,  I would just buy a shingle that looks like the rest of the neighborhood.  I think your overthinking.  I honestly doubt someone is going to pull up to the house and go  "Honey can't buy this one, thats not a 30year shingles" They are going to go "Wow luck honey a new roof, just think we don't have to buy a new roof for years"

Post: 25 year roof or 30 year roof

Tim JohnsonPosted
  • Lender
  • Grand Rapids, MI
  • Posts 703
  • Votes 446

They are the same shingles.  Shingle warranties are the biggest joke in the world its a pro rated warranty and by year 25 coverage is like next to nothing.

Do the 25 year and save some money

Post: Funding Your First Deal

Tim JohnsonPosted
  • Lender
  • Grand Rapids, MI
  • Posts 703
  • Votes 446

You can do deals with less than 20% down they have 90/95 Loan to valuve deals out there.  I use a program to fund my deals

Post: Invest Nationally Buy/Hold or Flip

Tim JohnsonPosted
  • Lender
  • Grand Rapids, MI
  • Posts 703
  • Votes 446

You interested in Grand Rapids, Mi.  I'm a licensed GC and custom home builder.

Post: Financing bunch of duplexes

Tim JohnsonPosted
  • Lender
  • Grand Rapids, MI
  • Posts 703
  • Votes 446

I agree with the others, get a bunch of loans.  What state are you in?

Post: Methods for first deal with little capital???

Tim JohnsonPosted
  • Lender
  • Grand Rapids, MI
  • Posts 703
  • Votes 446

Hard money guys just look at the deal. If the ARV is good you can usually get them to go for it. You will have to shop to find the right deal.

When I started out I thought I would try to do the wholesale thing, and I learned really quick that its not for me.  I just didn't have the marketing ability to reach the people.  Wholesalers have to work super hard to make deals.  Its a grind.

Post: Biggest newbie mistakes!!! Avoid!!

Tim JohnsonPosted
  • Lender
  • Grand Rapids, MI
  • Posts 703
  • Votes 446

I'm a gc and I agree with your GC ideas somewhat.

I agree for any REHAB job under 40k, you dont need us and a real GC wont even touch those jobs.

Me personally I don't even look at a job unless the budget is 200k and above

Post: Would you do this deal?

Tim JohnsonPosted
  • Lender
  • Grand Rapids, MI
  • Posts 703
  • Votes 446

I would pass, cash flow is to thin for me. Does it need any rehab, I would do a flip on it if the ARV was in line

Post: Tool to Measure Wall Deflection / Bowing

Tim JohnsonPosted
  • Lender
  • Grand Rapids, MI
  • Posts 703
  • Votes 446

I use a string line all the time for this type of thing.  Takes  practice to start off square, but they sell laser squares that could help you start this.