All Forum Posts by: Alberto Rivera

I recently finished forming my LLC so I can start flipping houses. I have a prospect investor but I always like to have a Plan B in case things do not work out. Can anyone suggest other ways for me to get money for the purchase and the rehab costs. I don't have any available money for it so I will need a source that can cover the entire amount while I do the entire work. Maybe a website, a particular business loan or another private investor that is willing to work with me. Thanks in advance!

I'm looking for a real estate attorney that can work with me. I have my own LLC focused on house flipping and I'm ready to do my first purchase very soon. I need an attorney that can help with closings but that's also open to help with legal aspects of owning a company of this type. Feel free to reach me on inbox or shoot me an email. Thanks!!

I plan on flipping houses soon and I'm a bit concerned about a specific situation. I can't be at the jobsite all the time, in fact I could only be there before 7am or after 5pm on a week day or the entire weekend; ironically I work as a residential Project Manager and have to be at different jobsites. What would be the best way to ensure work is getting done when and how I agreed with the trades? 

My ideas:

1. Send a family member to check the house at different times of the day. 

2. Pay somebody that can stop by randomly as well.

3. The most interesting yet maybe difficult to do: speak to the neighbor right across the street from the house to do one of the two: if they're a stay home mom/dad/whatever, ask them to keep an eye and answer my phonecalls or let me install a wireless camera on his house pointing towards mine, so I can just grab my phone and see what's going on in my house. 

Any feedback on my ideas or additional ideas will be highly appreciated.

Thanks!

Can anyone suggest a good system for decision making when partnering with someone (2 partners, meaning: one says yes, one says no = we're stuck)

He'd put all the money and I'll put all the effort, knowledge and experience into the project. Its for house flipping projects. 

Hey there!

Long-story-short, a friend of my father is interested in investing money in real estate with me (flipping). I feel that to keep waters clear since the beginning, a partnership agreement must be signed before any business is done. Can someone give me hand with this? I need a real estate partnership agreement sample or someone that can guide me through it, my plan B is hring an attorney that can do it and notarize it all at once, but I though this option might be easier and more educative.

Additional Details if necessary:

I'm willing to put all the man-power, that is, managing the job. I would hire and handle contractors as well as real estate agent and any other sub-contractors. At the end of the day, what I want is to generate a good profit off a few businesses together until I have enough money saved to be my own bank.

Hey there!

Long-story-short, a friend of my father is interested in investing money in real estate with me (flipping). I feel that to keep waters clear since the beginning, a partnership agreement must be signed before any business is done. Can someone give me hand with this? I need a real estate partnership agreement sample or someone that can guide me through it, my plan B is hring an attorney that can do it and notarize it all at once, but I though this option might be easier and more educative.

Additional Details if necessary:

I'm willing to put all the man-power, that is, managing the job. I would hire and handle contractors as well as real estate agent and any other sub-contractors. At the end of the day, what I want is to generate a good profit off a few businesses together until I have enough money saved to be my own bank.

Hi! I intend to flip my first property by the end of this year 2016. I've been self instructing myself on the industry for a few years now and I feel about ready. I've also used The Book On Flopping Houses as my main tool for this journey. My question goes as follows: 1. If I didn't want to seek a loan with a bank, what would you recommend to fund the project with? How do I find this/ese source/s? This is quite explained in the book, but I want a good insight from you guys. Feel free to add any other tip you think would be helpful to me, maybe on the same topic or any other aspect of home flipping. Thanks!

I think you should probably focus on the semester rentals. Maybe allow the current tenant to extend the lease an extra month (June) and do renovations on July so you'll be ready for new tenants by August. Or you could do your renovations on June so you'll have July to market the property and allow early move ins if you find any. The idea is that out of the two summer months (June and July) you only pay for one "out of pocket" which will be the renovating month, but the other one you should have some one living there so the tenants pay for it and not you. This way you don't hurt your pocket and still do your renovations. Note: depending on the renovation, I would do any indoor renovations while tenants occupy the house. These might be students who plan to stay another term and although the renovation takes 4 weeks, it may cause discomfort to them and this may affect you in the long run. Best of Luck!!