All Forum Posts by: Mark Freeman

-Make $300k profit on 3 to 8 flips in my local market. 

-Surround myself with buy and hold investors, and get back into buying for cash flow and appreciation.

-Finish my profile and upload a picture so I don't look like a FBI agent anymore on B.P.

I just spent over $14,000 on a foundation lift and fix and know an agent that spent about $32,000 on a fix in a similar area. Like Ben said this gets expensive fast and could be a nightmare on a first deal! Make sure and get estimates and realize that a lot of flippers avoid these types of houses due to unknowns and all the time and money it can take to fix them properly.

@Jered Sturm

Are you and your brother 50-50 partners on everything? If so, are you saying that you have 2 million equity in your 18 units? (Or enough equity that when split and added with other assets this has resulted in 1 mil. net worth for each of you?)

Great story, BTW. I voted for your post and love the humility. So many young people struggle so much with even buying the first property.

@Elizabeth Sky

Reduce expenses every way possible and use every possible opportunity to increase your income! Sell real estate, deliver pizza, baby sitting, house sitting, pet sitting, and anything else you can think of. Constantly apply for jobs to move up at your day job and for side/part time work.

Exhaust all non-bankruptcy options first.  This is no time to invest, but stick with BP to improve your prospects as an agent and to learn for future investing opportunities after you get out of consumer debt.

Also, Dave Ramsey has great advise for a person in your situation, as mentioned above. PM me with a mailing address and a promise to read it and I'll send you a copy of one of his books :)

@Dwight Crocker

I wish I could find that cheap of property here! I wonder if you could rent it for more money if you got that many calls that fast? Nice job.

If you should do a double close on a wholesale deal that nets $10,000 or more, how many closes should you do on a $200,000 net profit deal?!! Haha

I don't know about your tile, but if its cat urine it is tough to get rid of! I had to cut out the bottom 2 to 4 feet of drywall on one to finally get rid of the smell and treat the cement floors like crazy with white vinegar. I think I used 50 gallons of vinegar, moping the floors many times. This lady had up to 60 cats at once!! Good luck.

Maybe a WHOLESALE - SHORT SALE?!! LOL

Low inventory on the buy side. Window has closed for the panty waists!!

I doubt it, but why retire in your early 40's? When I had jobs I didn't enjoy, all I could think about was how can I retire early. (If you mean retire from your day job, I DEFINITELY understand that)! After I found real estate, it wasn't long before I decided I didn't ever want to retire! Don't get me wrong, I can understand retiring from actively managing properties and fixing toilets - I'd like to do that right now, but I love finding good deals on properties. I'm in my early 40's now and I hope I am still finding deals in my EIGHTIES! Hopefully I won't need the money to live on at that point, or have to do any of the rehabbing, but I think the thrill of finding a good deal and locking it in will still be there!