All Forum Posts by: Jason Fiet

Thanks Ron Briggs.

@ Joseph Conrey, I couldn't seem to load them. You can see on my link listed above.

Well, just wanted to follow up. We just listed our first flip 5 months to the day! Place came out great. We went over budget of course, but it looks like the market will allow us to recover the extras and then some.

All in for about $150K, (Purchase, rehab, taxes, closing, agent fees, etc., holding costs)

Listed for $189K

Pics available at the link below, please take a look!

Thanks everybody for your your insight.

We already have our eyes on the next one, just no money, need to figure that out. We don't want to have to one and sell then search again. Need to find a reasonable money stream as we build up a cash stream.

Well, just wanted to follow up. We just listed our first flip. 5 months to the day! Place came out great. We went over budget of course, but it looks like the market will allow us to recover the extras and then some. 

Thanks everybody for your your insight.

We alreasy have our eyes on the next one, just no money, need to figure that out.

 @Mindy Jensen,

Good Info! Thanks for the encouraging words.

Whats' up BP land?!?!?  Been following y'all for a little over a year. I am grateful for all of your information. Closing on my first flip on Thursday! Looking to flip, build cash reserves, buy and hold, repeat!

Thank you all. Makes sense. Excited to close next week and get this ball rollin'.

@ Linval T, Good advice. Nailed it. Corp, partnership agreement in place and a go to clause when there is a disagreement. :)

Thank you.

Hello all! First of all I'm writing this from the new BP app on my smartphone. Way cool! Anyway, we are about a week away from our 1st flip investment. About a year ago my contractor friend and I decided to pull the trigger. After much research, many a open house, and hours of analysis paralysis, we got an offer accepted. We plan on buying this one with our new start-up corporation and using the profits to build the business. 

My general question is, are most of you investors buying personally or as a business? 

@ Bill S. When I say utilities paid by renters I'm referring to electric and gas

I figure this,

Taxes        -$3000                        Rent $1400/ mo

INS.           -$1200

Mort          -$3,600

Vac 10%    -$1680

Maint.         -$1680

Total           -$11,160                    $16,800 /yr    = + $5,640 / yr 

Purchase price $55,000

Overall the rents are anywhere from $500 to $850 in the area. 2 family average price is approx. 56K -75K in this area.

I am not  familiar with the 2% idea, but seems on the money.