All Forum Posts by: Chris Marshall

Hello all, I've been looking in my local community for a fix and flip for about a year. I haven't found many and the ones I do find I get beat out on the contract or I can't seem to get the numbers to work. Now I know I am new and I don't know much but I am a general contractor in my town. That being said if I did decide to take on the project of building an entire apartment complex, where should I start? I've never done anything even remotely that close to scale. I ask this because I found a great plot of land potentially for an apartment complex for a local college. I don't even know how to figure numbers for that.

Yeah I'm from farmington Missouri about halfway between cape and st.louis. I'm putting in a bid this morning for my first flip. This is the third property I've submitted a bid for so let's hope the third times the charm!

They offer a secondary market where I buy from a list of tax liens and deeds they have purchased in "hot" markets so like when I talked to them earlier for instance they tried to sell me on Ohio tax liens and deeds. They also offer up to 70% financing on the tax liens and deeds. And apparently they just like compiled all the data of where to buy all the tax liens together on their website.

I purchased access to the tax lien investor buyers club at a event in St. Louis cause it was on sell and i thought it would work a certain way but so far it doesn't work that way and they are advising me that i should be looking more for the primary market cause they are a secondary market. I have like 2 weeks left to get my money back if i want to. and its been hard to get a hold of them and its starting to rub me the wrong way. I just want to know has anyone used them and are they actually worth it?

Awesome, glad to have you on here!

I've been looking for one in the cape and farmington area for a few months now. A "closeish" family friend just got her license and I'm talking to her now about it. If it looks like she will work out I'll let you know.

I wanted to know opinions on investing in the Huston area now over the next few months. With all the hurricane mess happening down there, prices could go down and once restoration efforts can happen, go down fix up the property and then hold on to it as a rental. Then sell after the area is fixed back up and the area stabilizes. I'm new to real estate but to me it seems like a pretty good way to invest. Yeah a little risky cause of all the water, who knows what is happening to the structure. But if you do get the placed checked and it is salvageable, just a lot of cosmetic work, would it be worth purchasing? I would figure that because of all the mess that is happening down there properties would be cheaper right now. It was just a random thought and kinda wanted to know if anyone else was playing with idea? I own a general contracting company so I figured I would just live down there for a few months fix up an apartment or a couple homes and then keep them rented out to other construction workers as I'm sure everyone who will be going down to help fix the city back up will need a place to stay after all. Again just a random thought, I am still trying to figure out how to invest in my area so I don't know if I would be able to make it work but It would be interesting to try. 

Hello all, I wanted to jump on here and share my thoughts on my updated business plan and to try and find some more networking opportunities. I am a general contractor in Farmington Mo. I started my real estate journey a few months ago trying learn and figure it all out. I felt I was very confident in my ability to quickly go out and get my first property shortly after starting and was very optimistic about how i would do it. 

My business strategy was to use the 50% equity in my wife and I's house to go out and purchase a fix and flip in either cape girardue MO or Farmington MO. I have been a contractor since I was 15 at my fathers business, so I thought that would give a competitive advantage in flipping. Unfortunately because both my wife and I each started up our own companies at the beginning of the year we do not qualify for conventional financing at the three banks that we currently use. 

We do currently have a rental property but that happened by accident. We built a salon for my wife's business and it pays us rent. After talking to our tax accountant he told us we should be charging more than just $200/ month in rent, so we bumped it $650/month and now it pays for all of our electricity and mortgage on itself and our house.

After being shut down on the HELOC I was a little discouraged but after a couple months I couldn't sit around feeling defeated any longer. So I came up with a new strategy to help me achieve my goals.

First off since Banks wont look at us currently I have focused on my general contracting company for a few reasons.

1. Build provable income

2. Network and meet all contractors in my area.

3. I chose to target high end projects to meet and build relationships with wealthy and influential people in the community.

4. Build a team of contractors that will run smoothly and operate efficiently when I do purchase my first flip.

Second I have chose to begin investing in Tax Liens and deeds. I like the idea of achieving, on average double digit interests on those investments, and then on occasion when I do get the property because the homeowner doesn't pay their taxes I will then Fix and flip that property. I have yet to purchase my first tax lien but my goal is to purchase my first one by October 8th. 

That's a little bit of where I am at currently in my journey, I hope to achieve my first fix and flip within the next few months with the aid of either a tax lien deed, private lenders or hard money lenders. 

I don't really have a question or anything I just wanted to share where I was at with everyone, organize some of my thoughts and maybe this will help encourage someone. But if you are in my area I'd love to meet you and if your a lender of any kind I'd also like to meet you. 

Welcome, welcome!

My wife and I finally have our first rental property. It's a small building on a plot of land next to our house and a lady is running their salon out of it for $600 a month. It's enough to pay our mortgage and the insurance on the building and it pays for just about all of our electric bill every month. ( our house and the building are on one bill) we are very excited and are now keeping our eyes open for our second opportunity. We are currently trying to secure a HELOC on our home. Thank you BiggerPockets for helping me on this journey!