All Forum Posts by: Brandon Battle

What you just described is called extended stay rooms and there are already hotels that do that.You would have to have lower prices than the competition by a lot to get people to choose a house in a neighborhood over a comfortable hotel room with maid and laundry service.

Are you intending to buy homes outright without any outside financing? If you did hard money financing you could flip 3 homes at the same time with that kinda cash for gap funding.

Borrowing the 20% from a private lender is not allowed because the PL will attach a 2nd Lien on the property.Your debt to income ratio would be unacceptable.

Look up Bigger Pockets on YouTube and you will see all their interviews.

You lower the risk to something you can sleep at night with by establishing good relationships and building your out of state team.First,pick an area you believe is doing well selling wise and go there.Call the local real estate agents and set up interviews and ask them about their experience working with investors.Weed out the rookies and go for the ones with at least 10 years or more under their belt.They will know everything you need to know like hottest neighborhoods,best hard money lenders,and who are the most respected contractors in the area.After finding one you like,start interviewing General Contractors that know how to lead a project and have a proven track record.Ask them for references and past jobs they have done and verify they aren't lying about it.Once you have both people in place,find a property and put them to work.You can only build trust by watching them in action.After you get home,establish clear communication with both of them.Make sure the contractors have an iPad with Skype so you can watch what is happening on the job site live and verify the work is being done and the crew actually showed up to work.Make the GC prove that progress is steady and no goofing off is happening.Once trust is established,you will be able to do business with them throughout the year and everyone makes money.

I myself just closed on a fixer and my partner really did a great job finding good comps that we want our project to aspire too.I was also worried about putting in too much improvement for no financial bonus money at the end.

Sounds like you're a victim of a depressed market.The appraiser has to go by what other similar sized homes are going for in the area and too many crummy homes were sold at the same time depressing the values for better and updated homes like yours.Tough break,my friend.Very sorry about that.Sadly,this is a good lesson for everyone flipping homes to learn by making sure you know what updated quality homes are selling for in the neighborhood for the last 9 months before you buy the fixer upper.You may find out too many fixers were sold at low prices and not enough updated homes were sold at better prices to keep up the values.

I agree with Sarah.Tell the top 3 or 4 candidates that you have multiple qualified candidates and are asking them for the highest rent they are willing to pay on a 12 month lease.Let them set the market price amongst themselves and you will reap the rewards now and in the future when you raise the rent on the other units to match it at your first opportunity.You can do it Carlos,you deserve the best rent possible.

Watch the podcast where Brandon interviews a CPA named Amy Tan.She explains how the right entity can save you money at tax time.

Are you talking about manual labor? You mean if your uncle says it is going to take 5 hours to paint the kitchen and dining room you're just gonna paint for an hour and abandon him to do the rest while you go home and chug a beer? If that's the case your partnership needs to end before it begins.Please correct me now and tell me I am dead wrong,please!!!