All Forum Posts by: Blane Harvey

I looked at this a while ago, needs so much and carry cost really didn't make sense for the risk level on the project. If I remember right we were a buyer in the low 600s

Andrew,

House looks good, I like the back wall in the bath (Great idea) and the painted cabs off the shelf at HD - then jazz em up with crown etc. is golden $$$. Can you tell me two things:

1. What model range are you using in that house?
2. what video rig do you have for the video work. I really like it and am going to do some feature videos on a couple new builds I have going.

Should be able to attend this month. See ya there.

Meetup still on for next Monday? Just want to make sure I have the details correct on my calendar.

Dee,

In no way am I qualified to give tax or investment advice, but all of our flips are ran similar to what you describe above with our cost basis calculated from the purchase date and profits from the sale date. Taxes aren't due immediately but would be due the year of the sale assuming the LLC made distributions to its members under a K1 form. If the LLC chose not to make a distribution and purchased additional properties with the profits there might be some delayed gains and the investor would have a return on paper, but as soon as a distribution is made, taxes are due. As much as taxes suck, it usually means you're doing something right.

Thanks for all the welcomes:

@John Klaus - I was mainly focused in Industrial leasing, but haven't spent a lot of time recently in that arena. Yes I am looking for markets with strong urban renewal, high job creation and a young educated workforce. Cash flow is important, but I also am not one to rent at the bottom of the barrel. Dallas is a whole different animal from Denver IMO, and I cant say I have really looked into the market like I have some of the smaller areas in my region. Curious to hear what its like...

@Ethan Hamilton - Open to flip anything that makes a decent return, I have flipped in price ranges from 60k up to 300k. Would love to hear your insight on Omaha, its been on my list to research, and I think it shows good signs of growth. Seems like its really hard to grow rents in some of these markets though? Whats your experience? are you flipping, buy n hold?

Long time reader first time poster!! Been involved in RE in Denver since 2007, with experience in commercial leasing, financing and numerous residential flips in the Aurora and Denver area. Presently looking to expand my rental portfolio and I am looking to make connections with other members in the mid-western U.S. including Oklahoma City, Salt Lake, Boise and Omaha.