All Forum Posts by: Alan F.

@Alan

Great , I will have the network in a  few months so will look at it

Good morning

If I have  250 K capital , can I make 120 K a year from flipping?

Thanks in Advance

Quote from @James Hamling:

Quote from @Account Closed:

Quote from @David C.:

Quote from @Kristin Flores-Brockman:

If Harris gets elected and implements this $25k for FTHB, guess what that will do to the price of the homes.....? increase them by $25k. People forget, there are implications when you give things away for free. Ultimately, someone will be paying for it. NOTHING is for free, someone ultimately pays for it.

 I second that.

I remember back in 2008 time frame having a hard time selling a SFR here in SoCal. Obama's FTHB came along and it sold in short order, full price. I always felt it was due to the bump in demand created by the tax credit. Who paid for my windfall, not sure, increased national debt perhaps.

Congratulations. Your bailout cost us $242,000,000,000 ($242 billion) in new debt which would have built 806,700 houses at $300,000 each. Plus, interest payments continue to be made on that bailout 15 years later. ;-)

Profligate spending ( undisciplined, un-necessary debt) has risen by an additional $22,091,000,000,000 ($22.9 trillion) for 76,636,000 new houses at $300,000 each and everybody would have a new house. But, alas that was not to be. ;-)

What a country!!

Out by me there is this lake. It's called a "Depression Lake" and my daughter asked why it's called that, what it means. 

I explained that in the Great Depression there was these camp's of people without work, people needed to eat, and back then they were begging for work to get the $ to eat vs today when people just ask for the $. 

So, a politician came out one day and they dropped off truck loads of shovels and wheel barrows. Than told everyone that anyone who wanted work, had it, guaranteed. Show up, start digging. The only plan was make a lake, and continue as long as had to. 

Because back then they had the foresight to think what it would do to people if they paid them to just sit around, and the economy as a whole. It was hard work, digging a lake by hand. YES, that was the whole thing, shovels and wheel barrows, literally, not 1 piece of machinery was used. 

It was hard work, dirty work, nobody liked doing it but, it was guaranteed work and $ to feed one's self and family. 

My daughter looks at me and says "huh, that's pretty smart. Hey Dad, why are people so stupid nowadays?" Lol. 

West Coast and Mountain states of the West had the same thing called CCC camps conservation crop.  those are the folks during the depression who built our park systems trail systems fire roads etc.. We had a Ranch in Northern CA and there was an old CC camp about 3 miles up the canyon from us.. some of the infrastructure still remains till this day.. its now a public campground.

As for foreigners eating animals this is well documented.. Again in CA folks coming in from Vietnam war would go out into the mountains of the state and federal forests and basically kill anything that moved and ate them..was  a real issue about wiped out the black bear population and in Wa. my brother in law worked for the road department and would find dogs that had been eaten it happens.. Not sure about today but if people are starving which of course with all the food handouts its quite rare from what I see. I see no one starving if anything its the other way around for EBT card holders.

Quote from @Account Closed:

Quote from @David C.:

Quote from @Kristin Flores-Brockman:

If Harris gets elected and implements this $25k for FTHB, guess what that will do to the price of the homes.....? increase them by $25k. People forget, there are implications when you give things away for free. Ultimately, someone will be paying for it. NOTHING is for free, someone ultimately pays for it.

 I second that.

I remember back in 2008 time frame having a hard time selling a SFR here in SoCal. Obama's FTHB came along and it sold in short order, full price. I always felt it was due to the bump in demand created by the tax credit. Who paid for my windfall, not sure, increased national debt perhaps.

Congratulations. Your bailout cost us $242,000,000,000 ($242 billion) in new debt which would have built 806,700 houses at $300,000 each. Plus, interest payments continue to be made on that bailout 15 years later. ;-)

Profligate spending ( undisciplined, un-necessary debt) has risen by an additional $22,091,000,000,000 ($22.9 trillion) for 76,636,000 new houses at $300,000 each and everybody would have a new house. But, alas that was not to be. ;-)

What a country!!

Out by me there is this lake. It's called a "Depression Lake" and my daughter asked why it's called that, what it means. 

I explained that in the Great Depression there was these camp's of people without work, people needed to eat, and back then they were begging for work to get the $ to eat vs today when people just ask for the $. 

So, a politician came out one day and they dropped off truck loads of shovels and wheel barrows. Than told everyone that anyone who wanted work, had it, guaranteed. Show up, start digging. The only plan was make a lake, and continue as long as had to. 

Because back then they had the foresight to think what it would do to people if they paid them to just sit around, and the economy as a whole. It was hard work, digging a lake by hand. YES, that was the whole thing, shovels and wheel barrows, literally, not 1 piece of machinery was used. 

It was hard work, dirty work, nobody liked doing it but, it was guaranteed work and $ to feed one's self and family. 

My daughter looks at me and says "huh, that's pretty smart. Hey Dad, why are people so stupid nowadays?" Lol. 

Quote from @Alan F.:

Quote from @Account Closed:

Quote from @David C.:

Quote from @Kristin Flores-Brockman:

If Harris gets elected and implements this $25k for FTHB, guess what that will do to the price of the homes.....? increase them by $25k. People forget, there are implications when you give things away for free. Ultimately, someone will be paying for it. NOTHING is for free, someone ultimately pays for it.

 I second that.

I remember back in 2008 time frame having a hard time selling a SFR here in SoCal. Obama's FTHB came along and it sold in short order, full price. I always felt it was due to the bump in demand created by the tax credit. Who paid for my windfall, not sure, increased national debt perhaps.

Congratulations. Your bailout cost us $242,000,000,000 ($242 billion) in new debt which would have built 806,700 houses at $300,000 each. Plus, interest payments continue to be made on that bailout 15 years later. ;-)

Profligate spending ( undisciplined, un-necessary debt) has risen by an additional $22,091,000,000,000 ($22.9 trillion) for 76,636,000 new houses at $300,000 each and everybody would have a new house. But, alas that was not to be. ;-)

What a country!!

 And contributed to inflation. The last thing this country needs is ANY more money injected into the economy. 

That depends on your perspective. 
If you want to break the USD, which dethrones USD as world reserve currency, which dethrones US as predominant world power..... It's "inflate baby INFLATE". 

Quote from @David C.:

Quote from @Kristin Flores-Brockman:

If Harris gets elected and implements this $25k for FTHB, guess what that will do to the price of the homes.....? increase them by $25k. People forget, there are implications when you give things away for free. Ultimately, someone will be paying for it. NOTHING is for free, someone ultimately pays for it.

 I second that.

I remember back in 2008 time frame having a hard time selling a SFR here in SoCal. Obama's FTHB came along and it sold in short order, full price. I always felt it was due to the bump in demand created by the tax credit. Who paid for my windfall, not sure, increased national debt perhaps.

Congratulations. Your bailout cost us $242,000,000,000 ($242 billion) in new debt which would have built 806,700 houses at $300,000 each. Plus, interest payments continue to be made on that bailout 15 years later. ;-)

Profligate spending ( undisciplined, un-necessary debt) has risen by an additional $22,091,000,000,000 ($22.9 trillion) for 76,636,000 new houses at $300,000 each and everybody would have a new house. But, alas that was not to be. ;-)

What a country!!

I like the FTHB tax credit idea personally. Being in an expensive market and having worked with first time home buyers a lot, it'll be nice to see them get help because they really need it when competing against more established buyers. It's basically impossible to get a first home here unless you have help, which is a bummer for those who aren't trust funders. $25k towards the down payment will even the playing field a bit.

I actually used the FTHB tax credit in 2009 ($8k tax credit at the time) which kick-started my real estate career. I paid $12k down and got $8k back so $4k out of pocket for my first property. Then I used the $8k to fix the property up. I did a value-add project to force appreciation, refinanced out enough cash to buy property #2 (without government assistance this time), turned property #1 into a rental, then repeated that process with property #2 and several more times over again and have since turned that initial $4k into a multi-million $ portfolio. So I'm a fan. It supports "The American Dream" in my opinion.

 I hear the comments that the money has to come from somewhere. I see it as an $8k investment that the government made in me and they have done really well with it because I have paid that $8k back many times over in taxes that I've paid since then. Plus now that I'm established and have a portfolio, I pay a lot into the local economy by hiring contractors, buying materials, etc. I contribute a lot more now than I did as a renter. 

Plus let's face it: it's a bit hypocritical to complain about tax incentives as real estate investors because we get a lot of tax advantages ourselves (write offs, depreciation, pass through deductions etc. these are some of the main reasons many people invest in real estate). It's not like we're talking about a "free market" here. A true free market doesn't exist as far as I know. People like to throw that term around, but a true free market would be anarchy and nobody wants that (or if they do they wouldn't like it for long). Real estate is propped up by govt. as it is, just mostly helping the already established more than beginners currently. It seems only fair to offer incentives to people just getting started as well, rather than just those of us who are already wealthy (like the guy running for president who is a billionaire but pays very little in taxes, and actually had the balls to write off $70k/year for doing his hair! If he can get $70k to glue his wig on in the morning, we can afford $25k for first time home buyers IMO, lol). 

He also used a lot of other questionable tax-dodging strategies like writing off high-interest loans to his kids, fudging numbers on the value of his properties to pay less taxes, then fudging them the other way to get loans, etc. etc. etc.... let's not forget his company was found guilty of criminal tax fraud. We have no reason to trust anything he says, and every reason to know he's lying a lot and only running for president in hopes of staying out of prison. 

No surprise that Trump plans to further cut taxes for himself and his extremely wealthy friends and family, just like the tax bills he passed as president. His 2017 tax laws seem to be written specifically for himself, lol. We've been trying and failing with trickle down economics for 40 years. It doesn't work, it's just an excuse for extremely wealthy people and politicians to pay less taxes. Let's try something else! 

Quote from @Bob Stevens:

So let me get some feedback. If you're all in 150k and sell for 200k, great % right? So, if all in 500k and sell for 600k, still good profit right, much more risk IMO. So, who cares about the school? Just because you and I will not live there, others do. So, I'm all about Price price price, to a degree.

All the best to everyone 

You appear to be bent on proving most wrong here. Sure it is about price, price price. What you pay for it, how much you spend on it and how much you get for it. But you appear to miss the fact that the third price in that formula is affected by location which includes school ratings. I have flipped a lot of homes and have had higher returns consistently when the location was better, particularly when the location is inside a specific highly rated school. Young families pay close attention to schools when deciding on a home purchase. That is a fact.

So to answer the OG poster's question, schools (and all around location) should play a roll in your decision of purchase and how much to pay for it. One house to another, with all else being equal, the rehab could be exactly the same and the purchase price as well as the exit value could be largely impacted by location/school ratings of that location.

Hi everyone, I'm looking for a contractor for a fix and flip in San Antonio, Texas. Would love for recommendations from personal experience. Thanks!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $200,000
Cash invested: $75,000
Sale price: $430,000

Pocket listing. Friend of mine wanted to unload it for his parents. Worked out very well.

What made you interested in investing in this type of deal?

Opportunity presented itself. I had always wanted to do a flip.

How did you find this deal and how did you negotiate it?

Pocket offering.

How did you finance this deal?

Cash

How did you add value to the deal?

Complete home improvement project.

What was the outcome?

Positive outcome. Nice profit.

Lessons learned? Challenges?

Learned so much on this project from start to finish.