All Forum Posts by: David Clinton III

Hello! I have a client in Panama City looking for a CPA.

Client isn't a real estate investor yet, but will eventually begin investing, and needs to get a solid and strategic CPA in his network. Who do you recommend?

Thanks in advance.

I would consider how much you have in savings for things that go wrong with the house. It will eventually need a new furnace, new roof, repairs, etc. so be sure you're saving for all these things. Once you feel your house savings is enough, then consider investing that monthly amount elsewhere.

If I were in that position, I'd probably find the highest paying CD I could find that allows you to add funds to it (Bank Rate tends to have a lot of good info). Open the CD, add to it every month until you hit a comfortable level of reserves.

I like what Mike says above. But if you're certain North Idaho is your destination, flipping numbers don't work like they used to. I've been flipping (etc.) for about 10 years, and haven't found a deal good enough to buy here in nearly a year. 

I think it all starts with your end goals. In your post, I read a lot of tactics you are interested in, but I'd pull back and think what you want to accomplish and what you want to spend your resources (time / money / credit / skills etc.) on.

I find it helpful to think of any given real estate strategy on a spectrum from Active to Passive. Active investments will be along the lines of flipping houses, wholesaling contracts, and managing your own rentals. The passive side will be more holding rentals that others manage, buying turnkey, or lending as a private money lender. As a general rule, your return on capital will be higher on the active side, and lower on the passive side. However, the return on your time invested will be the opposite.  So look at this spectrum and see where you want to be. This will help reveal which strategies make the most sense to pursue.

I did find another local to me... testing them out. So far it has been way better. I doubt they serve anybody outside of the area though.

Asset based loans will always be higher interest rates than a traditional mortgage. If the numbers work, you can get things done a lot faster and smoother. But expect to pay between 12-18% annualized interest. 

Hi Val,

I wouldn't expect to get a lot of stock market talk in this real estate forum (though I could be wrong). I'm a big believer in learning your lane very well, and not dividing your efforts much into others. For example, I've done over 150 deals in real estate investing, have learned quite a lot, and become great at it. However, whenever I dabble in the stock market, I lose. It's just a different game, and I have spent my efforts learning REI very well.

Best of luck in your endeavors.

A guy in my area (Spokane WA) is very interested in this... he's become a successful flipper, and is himself a veteran. DM me and I'll give you his info.

In all these years as a real estate investor, I've never found an inland northwest deal on Bigger Pockets. However, I have networked, made relationships that lead to deals... worth every minute spent here.

you say "out of state", but not what state you are in... I'd recommend networking with HML's specifically in the state you're investing (not the state you live in). These will understand the real estate market they like to lend in, and likely be easier to work with.

If you are netting $1500/month, that is $18,000/year. 
$18k / 300k = 6%.