All Forum Posts by: William Mccurdy

Alexander Felice do you know if you can refinance out of the va loan after the mortgage seasons? I'm in Fayetteville as well. You are right there are not many multi's but if you can find the funding you can get an apartment building for cheap.

So just to get an idea kicked around. One of the greater expenses in kitchen rehabs and selling points in a home are appliances. What are your ideas for cutting costs in this area? Price match? Buying in bulk? discounts? Sears outlet? Should you put stainless in a rental property? What are your thoughts/ideas?

You are completely ruining the purpose of an LLC by doing this. With an LLC you have to separate yourself personally from the business. When your personal finances clash with business finances it becomes one in the same and you can get sued for everything.

Offer 40k. This opens a 35k difference between the rehab and the ARV. Even if he says no then it's the same as you started. You ran the numbers and it isn't right. With that in mind no one else will offer either.

Brandon Purdeu the coffee scene is actually right down the road! I'll definitely be attending that meeting. You are absolutely right though. Trying to find good pockets of neighborhoods is hard. I went through that struggle when I was trying to find my house. I luckily ended up in a nice retirement area with relativity low crime. The houses are a little outdated but that just fuels the "renovated" desire to have the newer looking house on the block.

Hello My name is william and I am starting on the investing journey with my wife. Together we plan to use the BRRRR strategy to build a passive income base with flipping on the side. We hope to use BP to make lasting connections and help our team grow. Our main investments will be in Fayetteville North Carolina and surrounding areas. I have started watching the webinars and listening to the podcasts and will get the pro membership after I finish a little research about my area. I have started looking at homes in and around my neighborhood. The houses don't seem to sell for much more than 40k but the value of the homes are 100k plus. It's a little strange to me. In the mean time if anyone could point me in the direction of a mentor that I could possibly invest with to show me the ropes I would greatly appreciate it. The best lessons are the ones learned the hard way but it's much easier to learn with someone, than on our own. Thank you for your time and I hope to learn a lot through BP!

An LLC is great for personal protection if you are doing a lot of business. As far as working across state lines you must form an LLC in a state of your choosing. Then you must get a business license in that state. After that if you plan to work in another state you must apply for a foreign business license in any state you want to do business in. I am currently looking into running an LLC taxed as an s Corp. I want my business to be based out of Nevada but I want to do flipping in North Carolina. The total cost of it is somewhere in the neighborhood of 1500$ depending on the attorneys I choose.

Wouldn't there be legality issues with a realtor doing that? I'm not that experienced but from what I understand you can't give realtors money for the side for services. Maybe if she is an actual business Partner. From what I understand she would have to give the money to the firm. Correct me if I am wrong I am always willing to learn.

If I where in your shoes I would keep it. You are already 1/3 of the way payed off on it. You can refinance the home at any time and use the money to put down on other homes. Property managers normally charge a percent of the rent but it's worth it knowing the home is completely taken care of. It may be a hassle to you being so far away but don't think of it as a hassle, its an investment.

How much equity do you have in it? Selling it without any equity wouldn't really Benefit you. Have your agency start looking for renters. If your strapped for cash maybe lower the rent a little to encourage it to fill.