All Forum Posts by: Caleb Rigby

I've been using Mountain View Title (near Layton Hills Mall) and they're great. 

I'd like more info for the leads in Salt Lake City, UT. 

@Angela Clough, going to try and make it to this one. Thanks for putting it together. 

@Donovan Wilcox, your monthly cash flow is less than $85 per unit - for me, that isn't enough cash flow to make this a deal I'd consider. It seems like @Brandon Turner says he doesn't typically look at multi-family properties that don't cash flow at least $150-$200 per door. Good luck, but for me, this is too tight (especially for your first deal). 

Take a look at some of the multi-families in Weber County - a lot closer to Herriman and better cash flow too. 

Hey @Michael V., I'll message you. I've got two flips that I'll be starting in the next couple of weeks. 

@Jenny Wall, thanks for the nice words. Yes, we removed the old shower surround before we tiled it. It wasn't one piece - we were able to save the tub on this house and just added some tile on the wall. I really like the look of that tile - it's from Lowes and it's now too expensive. 

I think it was a guest on the Flip Talk Podcast that mentioned they were using Bluetooth broadcasting units (called Asirvia Go) to find motivated sellers. The general premise is that you rent these units for a monthly fee and you can basically put any message on them that will broadcast to all Android phones within a 100 yard radius. I think those phones need to have the Bluetooth feature enabled for them, however,  to receive your message. So you can take them with you in your pocket, leave them at a store, put them in your car, etc. Just wondering if there are any wholesalers out there that are using this innovative method to find sellers for cheap. Maybe I’ll be the first in Utah to do it!

@Jody Schnurrenberger , @Jarrod Kohl said it better than I could. In a way I have a pretty loose, fun relationship with my contractor. He's an awesome guy and my family (wife and kids) love him. That helps us sometimes when I am in a bind and really need him to fix something super quick (like when the buyer's request repairs be done before the appraisal can be ordered), but it probably also hinders my ability to be firm with him at other times. I'd say set expectations up front (budget, timeline) and communicate early if things are lining up as things go along.

@Sam Marcos, you can do it! We used a HELOC, cashed in my 401k, and just started connecting with as many wholesalers as possible in UT and that helped us get going. Decide what you want to do and don't let anything get in your way of getting it!

@Melanie Hollimon, thanks! Congrats on tackling those 2 rentals. Sounds like you guys are busy! 

@Ira Ashton, I haven't flipped anything south of Layton yet - would you and your team have a problem traveling up to Ogden?

@Nicholas Field, purchase price was $171k and $125k, respectively. I'll dig up the numbers and share how I arrived at the losses. 

@Account Closed, those are some awesome tips. I'm pretty sure your Chip Gaines posing as someone else, but your secret is safe with us in this thread :) Really, though, I love the idea of negotiating with the manager of the pro desk. Saving 10-15% in material costs would increase my average profit by $2-3k easily. Thanks man. 

@Stephanie P., I have a HELOC and didn't know that a lender could 'shut down your HELOC' if they so desired - is that really a thing? I also disagree that you should pay off your personal home first. I wouldn't have been able to get into flipping if I didn't have that equity to use. We've flipped 7 houses in 2017 and using a HELOC was our launch pad. I don't think you should be overleveraged at any point, but I also don't think you should pay off your mortgage and let that equity go unused either.

Good luck @Elias Fahel!