All Forum Posts by: YiBing T.

Hello BP, My wife and I are flipping our first house. The house is in the name is a LLC. The buyer mortgage company is requesting us to provide them the operating agreement of the LLC. I can understand if this request is coming from the title company, but not sure why would mortgage company cares about who the seller is. The lender also said if LLC members include other LLCs, they want to see the member operating agreements as well. This is a little conflicting to the purpose of an LLC which is for legal and privacy. What if or investor doesn't want to be known? What are my options? How to respond to them if we don't want to provide members information? Has anyone encounter this situation before? Thanks in advance

My wife and I are flipping our first single family house, want to know how much do people usually get from their first deal? What's an average return on the first flip?

@Alexander Felice, great episode. Awesome advice. This is definitely something to look into. I just closed on property today, planning to put in about 25k rehab. I will need to check in with my title company to see if we can update the HUD1 like you mentioned. Thank you for sharing this trick. 

Hello BP Community, 

My wife and I are flipping a house in Baltimore MD. It is in a 350k neighborhood, we are closing to wrapping up the rehab project (finger crossed). I would like to check in with you to see what type of staging we should use for homes in this price range. I have seen a lot of HGTV and all of them have a staging company handle this part. The house is 2200 sqft, 4 beds, 3 baths, midcentury-style home, and the ARV is in the 350-370K. If you have any recommendation, please let me know. If you have any referrals, please feel free to PM. I would like to know what's the price range that's suitable for this type of home staging.

Love to connect with realtors and investors in the neighborhood. 

Thank you 

Yibing 

Wow, thank you @Darren Lenick, @Ozzy Sirimsi, since we are really new in flippings, we love to see feedbacks like yours. It can definitely teach us what we didn't think of and reminds us what we already know.

Here is another question: how much of ROI can we get back if we build double kitchen sink, oven and dishwasher? Our house is located in a Jewish community, my wife and I were thinking of doubling everything to meet the market demand, what are your thoughts on this approach? Would single everything hurt us in the long run? Thanks

I have applied business credit card via Chase through my LLC, they said it is actually tied to the personal SSN. Although they ask for the LLC's TIN#. Is this what everyone experience? The credit card I got was the Ink Cash .

@Aaron Farr I used to work in Wenatchee and I am interested in your flip. Is this house a complete tear down to the studs or more cosmetic? I am currently doing my first flip, do you have any suggestions for 1st time flipping? How often do you have to visit the job site to ensure project is on schedule? Do you sign any contractor agreements with scope of work? Thanks

Hello BP community I just bought a 2200 square feet single family home in Baltimore City. My wife and I are planning to flip this house. This is our first big project like this. We would like to get your opinion on choosing building materials. Hearing from several investor friends to be careful not to "over renovate". I'd like to get your opinion to know what would be just right renovation? Meaning the cost of upgrades would be able to equate to the future ROI. We are having a hard time narrowing down the grade of material that would help resale value. What's your opinion on it and would you recommend where to look for building materials besides the regular home depot and Lowes in the Baltimore MD area? Thank you all in advance.

What does this insurance do while property being renovated? I am wondering if it is worth it to buy insurance before all the appliances and renovations are complete? Thank you.

Hello BP Community, 

I am preparing to do a flip project in Baltimore MD, in the 21209 zip code. Anyone knows a general contractor who can handle kitchen remodel, 3 bathrooms and whole house painting etc? Thank you