All Forum Posts by: Westin Hudnall

investors are a great source for acquiring property... Especially if they have a place struggling to get rented out. They can get very frustrated and many would love the opportunity to dump a deal that isn't working out for them. Come at them from a very business minded approach and solve their needs/struggles. Think in these terms and the task won't seem so daunting.

I feel by your question your putting investors too high on a pedestal. Stay confident !

agreed 

I also noticed on recent posts that you were trying to find a deal first ; then a buyer 2nd.

I wouldn't do that. What good is a deal if you have no one to sell or assign it to ? You also will feel lost not knowing what type of deal to look for. Find as many cash investors as you can ; ask what they are specifically looking for them go out and find deals that match their criteria. If you do this they will be exstatic and purchase. Trust me ;)

seing that I wasn't to happy with my accountant (HR Block for 2013)

If your able to do "non local" returns I may be able to provide business with my 2014 returns when the time comes.

unfortunately I thought HR Block filed an extension for me for 2013 (1st year of my business tax returns) . They emailed me saying the extension needed emailed ; I assumed they were doing that which they did not. When I completing my taxes 3 months later I received a hefty $3000 penalty. Dumb sh*t newbie investor I am.

Anyway ; my accountant mentioned a 1 time tax relief. Has anyone heard of this or have any suggestions how to get this penalty removed?

here's how I would make my decision.  

If you find deals frequently and with relative ease (I sure as hell don't) then take the easy cash at 145-150 k rather that's selling to him or anyone else willing to pay 150 in its "as is" state.

If its a lot of work / stress for you to find deals then maximize your profits and fix and flip it with a PROVEN General Contractor to minimize the headaches. At that point you can offer to sell him the property 5% below market value if you feel you need the feeling of being a good guy.  If he doesn't want the discount ; can't afford the discount ; or thinks your being unfair than thats on him and the guilt has shifted away from you clearing your conscience.

@Jon Klaus 

Yah I don't think he added right so were trying to get it in writing. He's actually going to do 2 properties now at about 900 sq ft total for $2300 which includes everything you mentioned above (all labor and materials). $2.50/sq ft wow :)

he said he charges $5/ sq ft

@Dennis Weber 

If a concrete guy just gave me a bid in square feet do you think he meant cubic yards or do some bid in square feet ?

Probably A Simple Question Here :

How do you add up square footage of concrete needed for a patio ? Is it any different that adding up square footage of a laminate countertop for example ?

Here's what I have :

23 foot by 10 foot piece and a 18 by 10 foot piece needing busted out and repoured.

Thank you

Lots of good tips for you in this thread 

Now go find me a home so I can pay you a nice fee ;)