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All Forum Posts by: Andrew Vincent

Andrew Vincent has started 13 posts and replied 42 times.

Post: What to watch out for in Flipping and rehabbing

Andrew VincentPosted
  • Real Estate Agent
  • Port Huron, MI
  • Posts 43
  • Votes 37
Quote from @Evan Polaski:

@Andrew Vincent, this is impossible to answer, as it is so deal specific.  Generally, I would say when I was starting out, I wanted lipstick renovations.  Unfortunately, anything that is lipstick level does not produce a profit in this market (meaning it sells for too much money).

The big ticket items include foundation issues, water intrusion issues, main stack/sewer line issues, electrical issues (knob and tube or aluminum or fuses).  HVAC can get pricey if you need to reduct.  Masonry work/tuck pointing can become a huge cost too.  Termite or rotted wood.  Prior renovations without permits always can be a bit scary too.

Oh... and title issues.  ALWAYS, ALWAYS, ALWAYS buy title insurance for the full purchase amount.  If you have a mortgage, the lender requires it up to mortgage amount, but either way I always buy it for full purchase price. I know flippers, personally, that have done a lot more deals than me and never had an issue.  I have had to use my title insurance three times over the last 7 years.


 Thank you for the input! I understand that every deal is totally different. I just am very much a rookie so I wanted a good baseline of what others make sure to look for, which you provided so thank you very much! 

Post: Investing in the Port Huron, MI area

Andrew VincentPosted
  • Real Estate Agent
  • Port Huron, MI
  • Posts 43
  • Votes 37
Quote from @Brian Frey:

Port Huron and the Blue Water Area is a wonderful place to invest. We have many rentals and businesses in Port Huron. 


 That's great to hear! I would love to pick your brain about it if you would like to connect I'm trying to learn what I can from other investors!

Post: St Clair County Investors

Andrew VincentPosted
  • Real Estate Agent
  • Port Huron, MI
  • Posts 43
  • Votes 37

I do live in the area but I have not started investing yet as I'm working on getting some capital and funding for my first deal. I would love to connect and hear what you have found about the St. Clair County area in terms of investing.

Post: Investing in the Port Huron, MI area

Andrew VincentPosted
  • Real Estate Agent
  • Port Huron, MI
  • Posts 43
  • Votes 37

Hello everyone! I am from the Port Huron Michigan area and I was wondering if I could connect with anyone that is looking to invest in the area or if you already are. I can't wait to connect with those of you that are in the area. I am also open to speaking with anyone that's in the thumb area of Michigan that is an investor I am working on networking. Speak to you soon!

Post: What to watch out for in Flipping and rehabbing

Andrew VincentPosted
  • Real Estate Agent
  • Port Huron, MI
  • Posts 43
  • Votes 37

Hey everyone! I'm looking to hear what some seasoned investors look out for when touring a possible rehab or flip? What are some red flags that maybe a new investor might not think of? What are some things for you personally stay far away from when looking at a property? Thank you all again for any and all feed back! I'm asking these questions not just for myself but also for any other new investor who might be looking for some more nuggets of great info. 

Post: What to look for in a real estate attorney?

Andrew VincentPosted
  • Real Estate Agent
  • Port Huron, MI
  • Posts 43
  • Votes 37
Quote from @Nancy Truong:

Hello Andrew. I'm a Texas attorney so I'm a bit bias. If you're seeking an attorney to protect your business, I suggest asking about anonymity, asset protection, and pitfalls. Since there's several aspects to real estate law, you'll want to ask what's their expertise in real estate? It could be residential, commercial, development, foreclosure, sales, LL/T disputes, transactional, litigation, do they do in house counsel, etc. Ask about attorney fees, paralegal fees, and other types of fees (hourly rate v. flat fee), whether they charge by the quarter ex. Some lawyers charge in 15 min increments, meaning you pay the full 15 mins even if you spend 2mins. You may also want to ask for references, or check their reviews. Lawyers are in some ways like teachers, they're drafting contracts, arguing in court, writing letters/memos/opinions, so it's ask them to explain the process of setting up a protection plan. Way your options with seasoned attorneys v. young lawyers. Seasoned attorneys may not always be up to date with new or amended law while young attorneys may not have enough experience. Best of luck to you.  


 I love Texas! And thank you for all the great info. That defiantly gives me a great starting point for what to ask and expect. Thank you very much!

Post: What to look for in a real estate attorney?

Andrew VincentPosted
  • Real Estate Agent
  • Port Huron, MI
  • Posts 43
  • Votes 37

Hello everyone, I'm looking to get some ideas on what you look for when you are looking for a real estate attorney. I'm looking for what questions to ask and how to know they are giving me the best advice. I am looking for the best way to protect a business that will be supplying the initial funds for the real estate investing company. I have been suggested the hub and spoke method but I want to see what the community looks for when it comes to finding their attorney. Everyone has been super helpful so far and I really appreciate the feedback I'm getting!

Post: Fresh meat! New here and ready to learn

Andrew VincentPosted
  • Real Estate Agent
  • Port Huron, MI
  • Posts 43
  • Votes 37
Quote from @Drew Sygit:

@Andrew Vincent welcome to BP - it'll be what you make of it!

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/...


 I'll defiantly have to check it out! thank you for the tip!

Post: Fresh meat! New here and ready to learn

Andrew VincentPosted
  • Real Estate Agent
  • Port Huron, MI
  • Posts 43
  • Votes 37

I have posted a few times before this on just some general questions, but I figured I should do an introductory post as well! My name is Andrew Vincent and I'm from Michigan and looking for investments here and possibly out of state STR. I'm a beginner when it comes to real estate investing. I've been listening to the "Bigger Pockets Podcast" for about two or three years now and the "Rookie Real Estate podcast" for a year. I Have gotten myself in to a more stable position that I will be able to start my investing career relatively soon so I wanted to get active here on the forums and website to really learn from the community.

I have done the research on what investing I want to do and I've read some of the main books that are "must reads" for any real estate investors. "Rich Dad Poor Dad" being one of them as well as one of Josh and Brandon's books about real estate investing. I'm open to suggestions on some good reads even if they aren't necessarily real estate oriented. As I'm currently reading "Think and Grow Rich". 

I am working on getting my real estate license in Michigan to add to my income while I get my investing off the ground. I will for sure be letting you all know when I finish that. I'm looking to connect with investors form all over so I can really get a good grasp on what I'm doing. I can't wait to chat with you all and look forward to connecting.

Post: Live and flip: What are the benefits of staying the two years

Andrew VincentPosted
  • Real Estate Agent
  • Port Huron, MI
  • Posts 43
  • Votes 37

Can someone explain what the difference is between not living in a house flip versus staying the 2 years?  And is there a difference between living there for 1 year and 2 years? I'm very new and I'm trying to understand how much benefit there is for staying in a live and flip for the 2 years. Thank you all for any and all feed back I really appreciate it.