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Updated over 7 years ago on . Most recent reply

User Stats

293
Posts
381
Votes
Martin Neal
  • Rental Property Investor
  • Chicago, IL
381
Votes |
293
Posts

Hello BP Nation from Chicago!

Martin Neal
  • Rental Property Investor
  • Chicago, IL
Posted
Hello BP nation! I’m Martin from Chicago. Finally posting for the first time. I’m a quiet guy but I will try to be chatty in the forums. I started my first flip 2 months ago and hope to be done by the end of November. Tons of mistakes made but I will learn from them and move forward! Any questions, please ask!
  • Martin Neal
  • Most Popular Reply

    User Stats

    89
    Posts
    66
    Votes
    Chris Titcomb
    • Real Estate Attorney
    • Chicago, IL
    66
    Votes |
    89
    Posts
    Chris Titcomb
    • Real Estate Attorney
    • Chicago, IL
    Replied

    @Martin Neal, congrats on taking action!  (Most people never get past the idea phase.)  My two cents: remember to get lien waivers from all subs/contractors and get a sworn contractors stmt from your GC.  Many new investors never obtain these docs and invariably run into problems at the closing table with the title company.  I've seen new flippers fail to obtain the proper paperwork and title companies require a holdback of full proceeds until documents are provided!  Staying organized, keeping records, and implementing systems is essential for all flippers, new and seasoned!

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