All Forum Posts by: Brian Johnson

Great information about flipping on BP.  I love reading the Flipping Diary that people post up.  They add some before and after photos which is really cool to see the flip taking shape. 

I assume you are wanting to buy and hold or maybe even flip.  One thing I would suggest and this is based on my "low income" area experience.  Set aside about 40% of your net cash flow each month for expenses .  This should put you in a pretty safe spot for vacancy and clean up.  That was about the average of what I was spending.   Based on the local investors my 4 plex was not even in a low income area.  It was as low as I ever wanted to go.

I have never liked the thought of leveraging to the moon.  When you are not putting your money on "investing" I feel that only scraps are left on the table.  Maybe I am wrong about the whole concept.  I never dug to deep on finding 100% financing.   When I looked at the return on what I was getting vs the work put in I could not pull the trigger.  Maybe I am to short sighted to see the big picture or I was thinking to small. (like $100,000 or $200,000 deals)

I wish you the best and if you find your way to 100% financing.  Please send me a email and tell me about it.  I would love to learn from you.  Just FYI my goal is to make no less than 25% cashflow of the rent.

With that said.  I would have pulled money out of my REFI and used it to buy a rental.  I just REFI 3 of my properties and pulled money out to buy more properties.  Also with the low 3.99% on a 20 yr.  Plus I am cash flowing better.

 Very good point.  I wonder how much of the rent up front is often required in the Philippines?

 Gave,  

I have looked at the condos in IT park.  We always stay at the Waterfront hotel across the street.  We look for a rental in the condos for a 1 month stay.  We saw a couple listed around $60 to $80 per day.  Which is pretty good. 

if you want to do flipping.  Everything I have read is know your materials price.  Build up a database of kitchen cabinets for example.  Then get estimates from GC to do the work.  You have the idea of material cost so you can deside who is blowing smoke.  Finding good workers are hard to find. A GC will already have in place a team to do the job.

Yes I called and found that out today.  Which is good for me to get everything done before making the big move.

 Thanks Steve,  that is my intentions of doing the online class.  I still need to get in touch with a official and confirm that I need to live in Florida the total of 4 months before I can take the test for my license. 

I read something interesting.  In order to take the RE license test.  I will need to be a Florida resident no less than 4 months.  This is going to take a different approach than what I have planned.