All Forum Posts by: Andrew Leighton

Please include me to these meetings I’m interested in what these meeting consist of.

Is there anyway to get a schedule of any up coming meet ups? I’m interested in these meetings.

Your local title companies have list of foreclosed and about to be foreclosed properties. Most of them will sell you these lists as long as it’s legal in your state. I hope this helps.

Thanks for the info guys. I just wish there was a way I could reduce that bill. I will be talking with a tax professional hopefully by this weekend.

I bought a house I’m currently flipping last year. Can I use the purchase price as a tax deduction? I would appreciate all info as this tax season I’m being hit with a $6k tax bill.

Does anyone have any suggestions? About 18 days ago I hired a plumber in the El Paso area (Chavez &sons plumbing) to do a job they said would take no more than 5 days. They asked for 50% up front and the rest when inspections have passed. Since they have only completed about 50% of the work and show up when ever they feel like it. They did leave a jack hammer which I am now using as collateral. Can I get my deposit back and hire someone else? Should I try to take them to court? I’m losing money by not going to work because I don’t trust them here alone and the utilities are still running so I need to pay for those too...

Hey I’m not an expert, but I think your plan should go something like this. Find a very distressed property, that is very much below the comps in the area. For example $50k in a area that sells for $100-$120k. Buy it through a bank or private or hard money. Then invest $10-$20k to rehab and build equity in the property and get it appraised. If it now appraised at a value near the comps the bank will let you refi for about 80% of that. But also it seems to me that you are trying to combine 2 strategies but those two to work in your case you would need to extremely add value to your property or wait to pay off a large amount to make it worth the cost of the closing costs to refi.

ok so I just recently closed a deal buying a property I plan on flipping. This week I’ve been busy putting in some sweat equity removing the old floors. While listening to the BiggerPockets podcast SHOW!

I’ve heard several episodes where they are sponcered by SimpliSafe and I’m wondering if any of you out there in BP land have used them and what kind of reviews you would give them or is there a different alarm company you would recommend?

Dude that is awesome to hear. I too am on my first flip and just closed last week. I’m putting in a good amount of sweat equity. I too bought my flip for $55k and have estimated about $20-25k in rehab and holding costs. With a listing of about $120k. I’m super happy for you because it gives me inspiration and makes me feel like it is possible to succeed. How long did your flip take from close to close?

So I have a back up property that I’m looking at Incase my first offer falls apart. This is a foreclosure that has been on the market for about 6 months and the bank has reduced the price 5 times. I am considering to place an offer for 15% less than their asking price. Do you think it’s too much of a low ball?