All Forum Posts by: Candace O.

I agree with all the things you have said.  I have the number of a handyman but thought they might be able to do it faster, but I am going to give him a call.  I plan to visit Indy at some point and meet up with my contacts there. 

I bought a property in August that only needed a few fixes in order to be rented and should have been rented by now, but my property manager demanded that a huge list of additional items be done at outrageous prices.  After arguing with them a bit, I changed to another property manager and they are being very slow to do anything.  Both were recommended.  Now I see why many don't want to do out of state investing.  Any ideas?  Also the first management company charged me for all kinds of things to use up my reserve of $300.  They charged me to make 2 keys so that I would have 3 total, but was only able to pick up the original key that was given to them.

I work as an emergency substitute teacher and have considered getting my teaching license, but would rather do real estate.  This year I have partnered on a flip, bought a single family home out of state and started house hacking by renting out a room in my house.  I would like to know where you took courses in construction management as I hope to be more involved in flipping in the future.  Also interested in the details of how you did so many deals so fast.  TIA

https://www.zillow.com/homedetails/8314-SE-Raymond-Ct-Portland-OR-97266/53906919_zpid/

There is a home in Portland, OR that is in pretty bad shape. One of the partners made friends with a lady who has done a lot of flips on her own and has a GC license and realtor's licence. She is mentoring us and getting paid to be our GC and Realtor. There are 4 of us who put in money for the down payment and the part of the rehab that is not covered by the loan. We are using Civic Financial as our hard money lender. The nice thing about them is they check out our budget etc. to help us out since it is our first deal. We also have a JV contract. There should be about $70,000 in profit to share at the end so there is room if anything goes wrong. The neighbors are also really happy because the home has been used by bum to cook and use drugs. I believe that we have a lot of safety nets in place and I think this is going to be a great first deal.

Today myself and 3 partners signed our JV agreement and wired funds for closing on or before May 17th on our first flip! I am so excited to be on the way to my first deal. As they say on the pod casts the first deal is the hardest one. Yay!

Thank you for being supportive.  I definitely don't want to put my children in a bad situation and I have thought of lots of ways to manage that.  Friends of mine who are property managers have given me information on the company they use to do their background checks and that I can also do a check with the local sherrif's office.  We live near a University that has no dorms and had a college student stay with us in the past and I think that is likely the demographic that is most likely to target.  I think by doing this I can get to a point where I can be at home with my children more and eventually move somewhere where it would be just us.  I hope this can give others another idea of how to do a Brrrr, because you can get more rent by renting individual rooms in a house.

That is why I would do a thorough back ground check.  I have done it before and it worked out great.

I have decided to rent out a room in my house.  After that I was thinking I could renovate and add a wall to make a 4th bedroom.  After that I plan to rent the 4th bedroom as well.  So I have one room, my teenage sons share a room and I would have 2 renters in the other rooms.  After getting the renovation done and the 2nd bedroom rented I plan to refinance, move out and rent the other 2 rooms to two other tenants.  Then I will buy another 4-5 bd rm that needs some work and do the same thing again.  I live near a University so there are lots of people renting out single rooms.  Also rent has skyrocketed in our area in the last few years so there are a lot of single people who can't afford an apartment.  Thoughts???

I have a 3 bedroom home that I am doing a live-in flip.  It has a bonus room that would be pretty easy to add a wall and door to make a 4th bedroom or office.  I am wondering if this is usually worth the cost to add a bedroom.  Would appreciate any advice or opinions.