All Forum Posts by: Craig Price

Aaron,

Was nice meeting you and your dad today! Looks like you are off to a good start especially at your age. Love seeing young people thinking about their financial future. Good luck! 

Nice to see other members on this site from God's country!

Isaiah Burnside welcome to Oklahoma! If you get some time and enjoy baseball you need to check out the jr college there in Altus. There team is made up of all Latin kids. Really talented and they put on a show. It's like watching the Caribbean World Series on TV with all the music and chants they do. Good luck in your investing career!

Good question. I would love to hear more peoples opinion.

I agree with Andrew. I have read that book 3 times and highly recommend it to any beginner.

I need some advice on a CPA and Real Estate Attorney. I am investing mainly in Oklahoma but only live a hour or so from one of the larger cities in Arkansas. I have found a CPA and Attorney that has dealt with investors but don't necessarily specialize in real estate in Oklahoma. I know there are CPA's and Attorney that specialize in real estate in the larger city in Arkansas but not sure if I can go with them since I don't live in that state. Do you have to use people from the state you live in?

Big time! Good luck!

Sylvia B. I'm sorry I misspelled quiet. Yes your examples fall in the quiet cost category.

Sylvia B. in one of the books I read, Flip by Rick Villani and Clay Davis, quiet cost were broken down into four categories: buying cost, holding cost, cost of money, & selling cost. It was an easy ready. Would recommend it to anyone just getting started.

@Joshua Dorkin will work on getting pictures uploaded. Breaking down the $12,000.

Materials: $5,600

Contractor: $5,130

Quit Cost: $1,277

@Christine Glasner The doctor in my town was going through a divorce and had to sell his rent houses. This was one of them. He sold it for what he owed. Was a 2 bed 1 bath brick home. Didn't need a whole lot of work.

@Brandon Turner a few things are don't be afraid to pull the trigger when you find a house that meets your numbers. I knew after I did my numbers there was money to be made. Also hire a good contractor. I had three different guys bid on it and I thought all three where to high. I spoke with a guy I grew up going to church with about the bids (he was a former contractor) and he also thought they were to high. He said he would do it for me in the evenings and weekends with his dad and son to save me some money. He charged me by the hour. When it was all said and done they took about five weeks longer then the contractors had said they could do it in, but saved me $2,000 of the lowest bid I had gotten. I got lucky because I had known him my whole life and knew what time of person he was. Gave him my scope of work and checked in from time to time. Him and his son and dad did a great job.

I was actually using it as a rental property till my renter asked if he could buy it. My wife and I have a five month old so I figured I could use the money, and the experience of going through the whole process of selling it. I feel fortunate that I was able to get it at the price I did, and also having a trustworthy contractor. The neat thing at closing was the buyer was just as excited about buying the house as I was at selling it. Trust me, I enjoyed getting the check, but it was also a joy to see him buying his first house.