All Forum Posts by: Sean Carroll

@Henry LiChi I did mine through an attorney. Essentially... 

a contract was written and signed with notaries present. 

It was filed by the attorney with the county auditor

Checks are then collected, 2 separate certified checks. One made to the broker the agent worked for and another to me.  

Then once the contract is up or the person is ready to pay the remaining balance it will go to a title company for the transfer of the title. 

Hello everyone, I am not interested in hard money loans, lines of credit, or anything similar. I am looking for partnerships with individual private lenders or with a direct partner only. Thank you!

@Alice Young designing the look of a property will be easy for you!! Good luck on your adventure!

Hello, I have an opportunity to acquire a flip in the Forest Park area near Cincinnati, Ohio. Basic break down is 

$67,000 purchase

$17,000 needed to complete the project

$119,000 ARV.

4 months estimated till completion and sale. 

Looking for either a private lender (no upfront fees) or a partner to JV and split 50%.

https://www.biggerpockets.com/calculators/shared/748290/19c01e07-23a4-4f32-963e-66125256fc7f

@Patrick Philip there is a lot of legal jargon in them to keep you and him completely safe. I think mine is 5 pages long and then they sign scopes of work which are very detailed as well. In the master agreement there are things like what constitutes a walk off from the job, if something fails city inspection, if work is done incorrectly or with poor craftsmanship, when and how ill pay and so forth. I can send you mine f you provide your email. 

I agree, @Paul Sian

@Account Closed I would take that 30K and use a hard money loan to flip a house take the profits and invest in a rental property, what is left over goes back into the "flipping fund". Rinse and repeat. If you want you can PM I can send you an article that shows a pretty good plan for this question 

@Paul S. I would repaint the entire room with mildew resistant paint. I would also make sure the fan turns on when ever the light in the room is turned on.

@Dustin Frank I would say 50%. I am counting his 10k your 10k and another investors 10k as 25% position. Then is labor and materials as another 25%. What do you think?

@Benjamin Bleasdale if you can master cabinets, baseboard, tile, installing bathtubs, windows, all types flooring, siding, roofing, drywall, painting and basic handyman stuff you will do good. Also be honest, show up everyday and work diligently, communicate. I know it’s sounds like “well duh” but you would be surprised how few contractors do.