All Forum Posts by: Clancy Catelli

I agree with everything except that PE ratios are at an all time high. That's a false statement. 

Deffenetly slowing down up here north of Seattle... New construction still really strong, but the pre existing home sales much slower. (Not 1 week sales anymore on $600k homes).

First true flip was $82k net bought for $100k fixed for 40 ish a sold for $238k. The next one was $91k, took 6 months after work. And my best was a live in flip deal where we fixed it up and lived in it for 2 years then sold. $117k.( Lots of appreciation tho maybe $30k worth). 

Seems like if your going to invest in fix and flips you might as well build spec homes tho. Expesially if they are big projects. The last spec we completed netted $181k. All though we do all the work, so it's more like a full time job then an actual investment

@bill f demand does drive lumber prices, but I think only about 10% of the 40% increase is from demand. Import duties on Canadian lumber have been the largest impact. That alone works out to be around 20% on soft woods. On top of that, all those huge forest fires in Canada last year created a shortage of wood\delay in delivery also. 

...lol

I have a question for a CPA. I just got my 1099 from Etrade securities that shows my gains and losses from trading stocks in 2017. When you file your taxes i believe each individual trade needs to be recorded with the tax return. In my case, there was 1,872 trades that took place with options. So it seems like it would take days to enter these, is there a program to download the trades derectly to a tax return software to eliminate this process? thanks

Do mortgage companies every look at anything past DTI when prequalifying a buyer? every where i go all they look at is my DTI, but my stratagies/investments/savings stratagies are not normal in the since that i dont have normal steady income. I like to grow my savings by using multiple routes. I have a real estate license and do that very very part time, basically whenever i know someone who wants to buy/sell. I like to buy toys/equiptment/boats ect for great deals and use them for a few months and sell them for good money. (For instance i just bought a Excavator for about $15k less then what i can sell it for, going to use it for some projects then sell it. )I flip houses and make money doing that but i like to live in them for a while to avoid running it like a business and paying self employment tax. Im frugal in the since that i save money very well. Im trying to get a loan to build a house instead of using my own money, but the banks are giving me a hard, even though i have 3 times what i want to borrow. is there a lender that works with people in my situation that doesnt want 7% 30 year fix? Im looking for 4.25% or so standard 30 year loan.

It took me about 3 months to close my first deal but it was just a cheap vacant lot, about $1800 commission. Then the next one took about 4 more months and that was a $700k house that a friend was selling, maid around $10k, then it just became more stable and deals start to flow in slowy. I don't do any kind of advertising or office work. Pretty much fly solo and do other stuff like flip houses to stay busy. But I dont see why you couldn't do round $30-$40k your first year just by working your inner circle of friends and families

 just finished up my laminate flooring(waterproof) I like it a bit better then LPV because its a little thicker and you dont feel any imperfections in the subfloor. This is by no means a high end rental, but it looks decent and easy to install. Put 1100 ft in two days  

Just closed on a spec house i built and I will be using that money to build my personal home this year. I won't be starting until March so I put the money in a Diversified equities account.  $50k in tech stocks, $50k in energy stocks, $50k in consumer Staples,$50k in bio/health care, and $50i in basic materials. Well Diversified, kinda like my own personal mutual fund I've created.