All Forum Posts by: Winston Risser

I have only had one deal this way. In Oregon we had a Title Company do contract collections . So basically they are taking care of keeping track of all the funds. there is a closing. How long will the owner carry the contract ? Also does he still have a mortgage on the property or own it free and clear. I would contact a Real Estate Attorney to help write up the proper contratct for your state.

There are some great traditional loans like a FHA 3% down or USDA 0% down if you plan to live in the house , duplex , Or 4 plex for 2 years. Anything over 4 units is considered commercial. If you don't plan on living in the house you will probably need to put more money down. Or Do something more creative.

It could be the Gasket between the water tank and the toilet bowl. Possibly dried up and when moved a little started leaking.

@Jordyn Njoroge That is great you are saving money to Invest with. I don't have tons of experiencing in Investing but i have had things happen with my rental that just cost money. Not saying you should not do your first flip but just make sure you have a good plan if something does not go as expected.

You could find someone Flipping houses in your area and see how you could help them get what they want. Learning what is going on with people flipping houses in your area.

Welcome to BIGGERPOCKETS. There is a wealth of knowledge available here. There is a book on flipping houses on here someone should add the link on this post I am not sure how to. Congrats on your first flip!!

@Jack Tucker Thanks for sharing your success. Best wishes in 2014 .

I would wait till i had money saved and set aside for it. How bad is the old insulation ? If it was a faulty electrical or plumbing system then you would not be providing safe housing. I would say it is not as important as paint and i would not put myself in a bind to update the insulation, But if you had the money laying around and you wanted to do it then its not a bad thing.

If it is a older house there is a good chance that the wall that the cabinets are fastened to is out of level. If it is a new style of hinge it can be adjusted by moving the adjustment screw. If it is an older basic hinge you could shim the hinge with some paper wedges behind where it is mounted. If it does not need much.

Sound like an amazing deal @Dawn Anastasi . I like that. It rally pays to be creative and do what really makes money at the end of the day. Is the guy Licensed and Bonded ??

What is your biggest buyers group ? 3 Bed 2 bath with a Garage right . That would be my thinking.