All Forum Posts by: Cody Johnson-Winsett

Hey BP I am very happy to talk with you all again. Over the past months I have been gaining as much knowledge as I can to better equip myself for the coming year when I will truly start my "wild adventure in the Jungle that is Real Estate". In search for this knowledge I have talked to many, many investors and even local lenders, I have learned to analyze deals and run my own numbers for my end of the deal, but what about the funding end? Of course I assume that a lender will be looking for some of the same things that I would, but the also be looking for other specifics that would over their own hide. What are some of these specifics a lender might look for in a deal? What are the obvious make or breaks to any deal? What I really need to work on, being a first timer, is the structure of my deals so that they would appeal to lenders so that they may over look my inexperience. So BP, how do I need to present my deals for a lender to take that leap of faith because I understand a lender will have more fear for my own failure even when I do not.

@Michael Zuber I just turned 20 and I'll be financially before I turn 25. The world is limitless and so are we.

Hey there BP Nation! So I've been doing my research, taking in as much as I can and I hear of the many tax right offs and benefits to real estate investing, but there isn't much detail. Now understand I just turned twenty and I unfortunately did not grow up in Robert Kiyosaki's ideal education system so I am just starting out with one of the two things promised to me...taxes! Could y'all help my out in giving more insight into the positive effects of taxes for myself with real estate properties and projects?

@Marcus Auerbach Thank you for you advice. The house has been on the market for roughly 3 weeks now. Again this is just an analysis on what I thought was a good deal and I will not be able to buy this deal as I am waiting till the summer to purchase me first flip as I will not be in college and will have more time. Yes I have talked to a realtor about the house to get as much information as possible both of our comps on the house are from 120,000 to 110,000. I understand ARV all depends on what I accomplish in the rehab and what needs to be done to the house, although I have yet to look at the house with my own eyes this is just what can be said from pictures on several different listing sites. For my first flip I do plan on doing it myself so that I can completely control the ARV and to get a better grasp on what it takes to flip a house. I grew up in a family of lower middle class Carpenters and have learned my fair share of build a house on a budget of very little. Worse comes to worse I will be able to seek experienced family advice and help.

As a new investor I am trying to work on my deal analysis. This is base on a house that is in my area. If the Pro Flippers would be so kind as to look at my analysis and get feed back. It's a nice little 4bd 2bth, 1,136 sq ft that does need some major tlc. The asking price is 67,500 (realtor.com) yet I'd offer 60,000 or lower. It needs interior and exterior paint, new fixtures and appliances along with some new shelving and dry wall, and of course some yard work. I can do it all by myself and with help from experienced family members. I would definitely have the property inspected to be safe but this is what I can tell. A budget of 20,000 or less and I can get it done. I will need to talk to a lender for 90,000 just to be safe and homes similar to this in a 10 block radius are all listed at 120,000 and above, if I could shoot for 120,000 (depending on what all I have to do) which is a 30,000 profit bet in actuality I estimate 20,000 with taxes and closing cost and any other hidden fees.

@George Blower Thank you. The BP community is amazing.

Hello to the wide world of BP. My name is Cody and I'm from the small town of Grandview TX. I'll be honest I have been on BP for a little while now although this is my first post on the forums. I just turned 20 and I am at the cross roads of being close to graduating college and working for the rest of my life living paycheck to paycheck like my father before me. I do not want to continue this cycle, I will live life as it should be and make a difference in this world. I started my journey by reading Rich Dad Poor Dad, I'd like to mirror the ideals of Rich Dad and become financially literate while investing in real estate. I am looking to invest in the Burleson, Cleburne and the rest of the Johnson County area along with Waco and it's surrounding areas. Please feel free to say Hi, I am constantly on the BP app. I will continue my journey and learn more and more. Happy Investing!!