All Forum Posts by: Ashley Abramson

@Ryan Dossey I would be interested to see what you have/need for a profit split. [email protected] 

HI Brian,

Are you doing most of it yourself, or hiring a general contractor? I would consult your contractor on that as they are the ones with experience.

As far as the flooring, everything I was trained on was to do new flooring if you can afford it, it helps when marketing the house to sell. However, if the original hardwood isn't in bad shape and can be refinished, hardwoods can be a selling point over a laminate too.

Lastly, check out the comps in the area. If all the comps have new laminate, go with that. If they all have hardwood, you don't want to be the only house on the block using laminate... Make sense?

Hi all,

I was thinking about getting my real estate license in order to have access to the MLS and my own comps for my flipping business. I have heard that you have to "hang your license" with a broker once you get your license. Which entails a monthly "rent" and split of commissions essentially. Is this like a legal requirement? I am in the state of WA. But to begin would primarily use it to just make offers myself and not have to go back and forth with a realtor. And then re-list things myself as well.

Let me know what you think/know!

@Aaron Linde @Jon Klaus @Russell Brazil

Thank you so much! Very much appreciate the feedback. Cant get enough of this stuff!

Hi Everyone! I travel about 40-60 minutes both ways to and from work every day. I cant get enough of the BP podcasts! I was wondering what everyones favorites are!

Also, any Audio Book recommendations aside from Rich Dad and 10x Rule :)

@Adam Pierce I dont know if you saw my post before, and I hope you didn't take offense to it. My point was that you should be able to have an open and honest discussion about this with your girlfriend rather than presenting her with a lease. If she is mature and not just trying to live off of you, she should want to pay her portion of the rent anyway in case things did go sour, she would just move out, stop paying rent and that would be that. If you are at the point of wanting to live together this should be a very logical and easy conversation. If it was me, I would assume I was paying half of whatever the mortgage was unless told otherwise by you that I could pay less than that. My boyfriend and I live together and rent and we split it down the middle. 

Another great option would be to divide it by % of income, For simple numbers sake lets say your mortgage is $1000 a month, you make $130k a year and she makes $100k. you pay 30% more of the mortgage because you make 30% more than she does. Does that make sense? I know its not her mortgage but if you are living together you might as well get used to divying up bills fairly. Living together is a trial run for marriage anyway right?

I am looking for Private Lenders and more deals to analyze to ramp up my JV's in 2016. I focus mainly in the state of Washington, but am open to deals anywhere the market is hot. If you are a private lender with money to invest but not enough time/knowledge to find deals, manage contractors, and perform successful flips yourself, my partner and I would love to chat about partnering up. Private message me or send me an email at [email protected]

If you are serious- please include answers to the following:

1. What is your experience with Private Lending? 

2. Do you have standard or minimum rates/terms?

3. What factors do you look at to make your decision?

4. Do you prefer lending with interest or equity partnership?

@Jennifer King I know :(

We had some family things come up and we're going to be way late so figured we would make the next one. How was it?!

@Pete Perez Network Network Network Network. Did I say Network? Keep trying until you meet someone you click with, that will fund your rehab. That can be your "skin in the game" until you have enough reserves to legitimately put your own skin in the game. 

That being said, finding someone to JV with isn't easy. Make sure its a win/win situation, it's hard with no flips under your belt to prove yourself, but don't give up. But many people have and will successfully flip houses without their own money. Aside from things like EMD, Appraisal, Inspection, you have to network to find that partner to fund your deal.

Put it this way - you have the time but no money, and plenty of people have the money but no time or will, to do the hard part (Find great deals, and manage contractors themselves)