All Forum Posts by: Jeff Smith

@Logan Turnerreach out to a investor friendly broker over there by the name of Lance Marker. Connect with me as well. What April REI meeting are you referring to?

I would not use all cash, leverage that cash with a bank or soft money lender like LendingHome 

Lets say you buy a $50k house that after fixed up its worth $100k

You will either need more cash to fund the repairs or go find a lower priced house for $30k. 

Or you can use leverage and buy this $50k house by putting 10% down ($5k) plus closing cost and fee's ($3k) They will fund the $45k for 1 year and all the rehab cost (assuming its around $20k to fix it up)

So you get $45k to purchase plus $20k for repairs (repairs should include your material and labor) get 3 bids for everything unless you have a long standing relationship with your contractor and can trust him/her. 

I would also reach out to a seasoned Investors in your area and learn as much as you can from them before you just jump in to fix n flips. 

Hope that helps some.

I do sometimes ... The best one I found is HERE

There's slogan is "We Find People Others Can't" 

They actually are hands on on every search, and not just linking to some 3rd party software. 

Hope this helps..

Jeff

Hello Investors, 

If your in the West Texas area ( Amarillo, Lubbock, Abilene, Midland or Odessa ) tonight we invite you to come out and join us for the February Lubbock REIA Meeting. It takes place tonight at 6pm and will go til 7ish. We'll be discussing Real Estate 101

How to get started - 

What to do -

How to do it - 

What are some things to look for - 

and more...

It all takes place at Harrigan's Prime Grill Restaurant - in the Memphis Room.

Located at 3801 50th St. Lubbock, Tx. 79413

Hope to see you there! 

You can registar for your FREE ticket HERE

Visit our website HERE

I have a deal coming up that you will want. Let's connect. 

@Charles Tumblin I agree with @Greg H. on his numbers. I also looked at this house about a year ago and passed on it. One thing to add is Slaton might be close to Lubbock but there market there is almost non existent. 

Welcome to BP @Calvin Mclean 

I come across some great deals in Amarillo now and then. Lets connect!

Hope to see all you guys tomorrow. Remember its from 6 to 9 pm at the Arbor Hotel 6401 62nd St. just off Milwaukee behind stripes (Not Harrigans) this time. Come early to get signed end and network! @Austin Hughes @Jonathan Towell @Robert Bleisch @Alfonso Aceves @Michael Fortier and anyone else thats in the Lubbock, Amarillo, Midland, or Odessa area tomorrow evening. Bring a buddy :)