All Forum Posts by: Brent Cullipher

Hello fellow BP members!,

I became a member months ago and have received a lot of good information from the site.  So I appreciate any answers in advance.  I live and work in San Antonio and am finally just now getting to the point to where I have more time to invest in myself.  I'm wanting to find out which areas are the hot spots right now for fix and flip and/or buy and hold.  I'm ready for my first deal out here.   I'm using my own money so I can do up to a $60k rehab.  Will be doing 'subject to'.   Looking for some good areas to farm.  

Also, I would love the chance to partner up with someone in the area on a bigger deal for some flips.  Pooling resources sounds like an awesome way to kick *** on a bigger project..  So let me know if you're interested.  TThanks again in advance 

Jim,

Those number seem more like wholesale numbers rather than buying, holding and renovatjng and trying to sell within 2-3 months....

I agree with Chris.  Banks and other lenders will be your best bet.  Good luck and welcome to BP!

Hmmmm..  I don't think my wife is 100% on board, so she better hang on for the ride!  Our first real state venture put a bad taste in her mouth due to a flooded rental market, time and budget constraints, and forced to live 1500 miles from each other and away from the kiddos.  We then we're floating both our mortgage and rent as her guesthood  wore down as a very short term roommate turned in to 5 months.

Fast forward a few pages and I'm raving about Real Estate.  I've been dropped right in a bucket of real estate once I got out to TX.  It was my intention to become a real estate agent once out here, but my priorities quickly shifted once the veil lifted.  I saw real estate for what it is and fell in love with the realization that this year I could potentially make over 100k and that's only within 8-9 months.

Get this.... at first, I was **asking** my wife if she thought we should do this or that and she dejected.  Even though she saw how hyped I was, she's the type that is content just renting, working full time, putting money in a savings account rather than paying off interest accruing debt etc; now pair that with the bad taste in her mouth from our prior real estate venture and you've got a wall of "No's!"

So in the meantime, I'm learning all I can.  I'm working overtime at my current job and then flooding myself with knowledge from night to the early morning.  I've got the podcasts playing on the laptop speakers in our home, conveying the oooohs and aaaahs of the potential to her.  She still shows little interest.

But then...the shift occurs... I **tell** her we are about to start investing in real estate.  I tell her what exactly and how we are going to start.  She appears to reluctantly be wearing her sea-legs..  Mind you, she's the main source of reliable income for our family, so it took some careful prodding and poking.  And... now it appears she is on the wagon but just along for the ride.  I do wish she were in to it like myself.  I see some power house couples and am impressed.  It's those who work together that I'd imagine would gain the most..m think agent/ investor combo.  I can dream.. but in the meantime will pursue real estate and hope she comes around.  I think she will once she sees the first few checks... only time will tell...

.I also would agree that TPO roofs are much better for no/low slope roofs.  I currently manage an apartment complex and just had a TPO roof installed on a flat roof.  They are essentially seamless as they are hot welded (melted together at seams).  I am in TX and this roof will hold up good against the heat as it's white and reflecting most heat.  Also, foam boards are below.  when it rains, puddles do form on the roof, but it has not been an issue.  I suspect that this roof will last for a very long time. I'm definitely a proponent for TPO roofs

If I were you, I'd post this same exact question on Craigslist..  Be prepared for multiple calls and be prepared to vet.  You'll have to delete the post within a day as you'll get so many responses.  Do your due diligence in regards to vetting them.  License, insurance, current jobs, recent verifiable work etc.  I was just listening to J Scott's podcast on show 10, I believe, and he has a "Project Manager" who handles that whole aspect... contracting, crews, material, time line etc.. the best part about this form of his business relationship with his Project Manager is that he is paid a percentage of the profit that Scott makes, whereas contractors generally make more money the more work they do, his guy makes more money when Scott makes and saves more money.  So their interests are aligned.  Something to consider.

If not going this route, and you choose to find a contractor who knows the more work he does, the more he gets paid, possibly on material as well, you need to have 100% control.  This is your business, you don't ask for creative control, you take control, when hiring someone let them know how youd like them to operate.  Set spending paramaters, timelines, cost per day fees after timeline etc.  This is a business and you are talking about hiring someone to do a job.  Make sure its done to your liking. Contracts with specifics. Don't pay upfront, ever!  Possibly draws, preferably after completion.  Just depends on what yall negotiate... but i'll say it again, never upfront.  I've lost thousands paying upfront. 

Hope you find what youre looking for.  Good luck!

Jim P. Is only advertising for himself.  It is clear when you look at every post he's made.  Who is your mentor, Jim?

Jim P.,

Your posts seem wildly familiar and redundant.  This post is about building a business line of credit.  Not your owner finance deals through your contact in TX.

Jim P.,

Your flipping a house for 5k is for the birds.  Who would take on that much risk for $5,000 over a 2 month period?  Your posts seem to state the same things on every thread you comment on.  Almost generic.  As I stated before, I can work a $10/hr job and make 5k in months.  What's your angle?

The cost is minimal so it wouldn't really matter to me.