All Forum Posts by: Bill Mitchell

@Jon Klaus Thank you very much! The reason I am trying to get these prices is because I hear the going rate from contractors for a high end retail flip right now for a whole kitchen is about $5,000 to $6,000. And I am trying to figure out how they arrive at that sum total. I am breaking it down, but I don't see why it is so costly.

For instance:
A stove- 500
Backsplash-400
Cooktop - 500
Granite Counter Tops- 1500
Dishwasher- 500
New Sink - 250
Fridge - 550
Cabinets- Cost to refinish older cabinets in nicer condition ????

That is roughly 4,200. Unless refinishing older cabinets runs you another 800-1000 not sure how I would get at 5k to 6.5k for rehab.

Thanks for your input everyone!

I am thinking about purchasing my first flip here in DFW. I am trying to do some long hand repair estimates, and I was wondering what is a conservative $ estimate for your typical kitchen to have granite counter tops put in? Labor and materials, the all in cost.

Looking for a total estimate, for instance $1,500, not $ per sq ft. Thanks

I have my real estate license, and up until now I have only been using it for MLS access. Soon I plan on marketing for real estate listings. With that being said I would like some tips on what to wear for appointment attire.

I would like to wear a nice polo and perhaps black slacks or khaki pants. Wearing a suite really isn't my style, it makes me feel too stiff and like a lawyer. I am a very casual and sociable guy. Are my dress choices sound or will they repel potential leads? Thanks

@Account Closed Here in DFW, before inventory was so tight, was it difficult getting an offer accepted if you asked for a 7 day option period?

Thanks

Sounds like a good deal to me. I wonder if they allow contract assignments.

@James Mudd What brokerage is this? I am looking for a cheap one too. Thanks

That would a private money lender, not "hard money lender".

Hey @Shariyf Grevious not to be disrespectful, but this is kind of derailing the thread. You should probably make a new thread for your questions. Thanks

Thanks for stopping by @Jon Klaus . To clarify, in what sense do you mean value? Do you mean value in the form of a business relationship? Or some monetary value as well in the short term.

This was my first year wholesaling part time here in DFW. I made a decent chunk of change doing it, about 40k. My question is when it comes to taxes, should I utilize a real estate tax professional at the end of the year? Based on what I have researched so far, it might not be worth it, and might be better to use a program such as turbo tax instead.

Money earned from wholesaling seems to be treated as regular income, with any deductions (marketing, website, driving etc.) made on schedule C.

If that is the case it might make the most sense financially to just use something such as Turbo Tax at the end of the year to see how much I need to pay back in taxes. I don't think visiting with a real estate tax professional will save me much money in this case. But I may be wrong, thanks in advance for your feedback.