All Forum Posts by: Brian Buckley

I'm considering beginning a flip in the next three months and I think I will have to use a HML but it will have to be a dynamite deal since the interest is so high. I'd like to receive a profit of 20,000 minimum as I'm sure most people feel the same way!

Thanks for the replies, hopefully more people will share their stories. James where did you and your friend get your financing for your first deals?

Just wanted to see how everyone got into fix n flips. Was it through birddogging, wholesaling, HML's or just having extra cash lying around? It would be great to know how the pros started out. Any and all starting out stories are welcomed. Sorry if this has been covered but I searched and didn't see what I was looking for.

Side note, Happy Veterans Day to all our Veteran, thanks for all your service!

Can anyone recommend a good GC in Buffalo? I'm trying to purchase a flip and want to get some names of reliable and experienced general contractors.

I read a lot about houses appraising correctly after rehabs. If you purchase a property much lower than the market is averaging how do you ensure it will appraise with the rest of the market after rehab. I'm referring to a property that doesn't require major renovations but you get for a great price. Thanks

Thanks everyone for all the great input! I think a DBA would be my best bet since I will be acquiring a personal loan I can't title it under an LLC. I will definitely get the proper insurance to cover myself as much as I can. I'm interested in creating a business for my rental that I plan on purchasing in the following months for a few reasons. The reason really comes down to wanting to make myself as professional as possible which will help motivate me to attempt more deals in the future and come across as someone who is serious about getting into into investing. As I said in my original post I want (as does anyone on here) to maximize my potential profit. If creating a business would benefit me for tax purposes as well as asset protection then I would want to do so. I realize I'm not at that level yet and I'm trying to gain as much knowledge. Thanks again for everyones great replies!

Hey Jon thanks so much for the words of encouragement, my plans for management would be to have my father who lives up that way do checks once a month. I also plan on getting a second phone for my business line and set up a deposit only bank account for the tenants to pay the rent. Any suggestions you have would be awesome.

I am very familiar with Amherst as I have family there and Cheektowaga is a town I have been through. I think my budget for purchase right now is around 50k so it essentially rules Amherst out and the property I found in Cheektowaga had been sold in one week but I'm constantly looking. I don't want to bite off more than I can chew but I feel confident that with the right deal I could find a very positive cash flowing investment. I'm going up next week to take a look and hopefully put an offer in on a house.

Thanks to both of you for your replies. Brad, I really appreciate the advice and I do have roots up there in western ny. I'm heading up there to look at a dozen properties and the ones I'm really interested in are coming up in "Buffalo" but look like it's West Seneca on the map. I'm only looking for multi-family units as to increase my potential profit but just wanted to get a look at the rental market from people that have no interest in selling me a house haha. Just seems like an area for me to purchase an investment to get my feet wet and then if all goes well make another purchase 6 months down the road. How important do you think it is for a tenant to have an updated kitchen and bath as opposed to just a clean, functional possibly ugly kitchen. As you know there are a lot of old properties so I was wondering how you think this might impact my rent potential? Thanks again!

Thanks Mr. Scott that's what I assumed. I guess the most I will do then is set up a separate bank account for my rent deposits.