All Forum Posts by: Blake Powell

what liabilities will I face?

quick question here. I was wondering if I bought a secondary house to flip and I did the renovation myself should I have it in a llc? Is the any legal issues with me buying, doing the renovation with my own hands and selling in my names? I've been shopping the market and lining up finances but could use some input from there.

I also have thought about completing a home inspection course to show that I am knowledgeable of all the codes and aspects of a home. I probably wouldn't actually get the license as the requirements include carrying insurance for it and continuing education.

awesome info. Thanks a bunch for the perspectives. That really helps me know what I need to do next. I'm finishing up a major remodel at home, have 3 kids with a 4th on the way and working 50-60 hours a week so I am ready to work towards getting out of this rat race and work for myself. Also I am hoping to refinance my primary residence after this remodel and hopefully have a little bit of equity to put towards investing.

Hello everyone, my name is Blake and I have begun to dive head first in trying to educate myself. I am from indiana and I am currently taking a few months to learn and plan my goals for investing. I am wanting to eventually get to the point where I can. Quit my current job and just invest. I picture having rentals to keep a steady cash flow and flip houses. I am good with working on houses. I am picturing buying houses and fixing them up myself as I enjoy that part a lot while collecting rent from other properties. 

So my questions are, if I do all the repairs myself do i need to have general contractor license or anything along those lines to do so?

Any suggestions on how I should setup my buisness to get started?

If I were to buy a property to rent before my buisness is formed would it be easily transfered to my buisness down the road?

Thanks for all your help!