All Forum Posts by: David McClain

@Lucas Carl I’ve reached out to a couple of realtors as well as local bankers. I’ll see what’s going on when I get there.

My wife and I are looking at potential properties on the coast in the Destin/Ft. Walton area. Does anyone know of real estate attorneys we should visit with while we are there?

Not sure how I send a private message on here. Still trying to figure this thing out.

Mariah, My wife and I are looking at investing in a property in the panhandle. Are you guys having a meet up next month the week of 4th-11th? If so, what time and where. David

I appreciate all the responses. Just so I’m clear, I’ve calculated the rental amount and subtracted all the expenses(mortgage, capx, insurance, taxes, vacancy, repairs) and this property like one I have in the same area I’ll perform well as a rental. The area is hot and going through a boom. My goal is to have multiple properties in the area. I’d like a duplex next, and need some cash to tie up land to build one or purchase one. I wanted to have some cash to do deals instead of borrowing or taking my equity out in a home every deal.

I work full time and make a decent living. My goal is to be able for my wife an I to depend on our rental income to support us financially. Flipping this house would hopefully give us cash to put in on other deals. I could rent it for $900-950 a month and that would allow me to Gross $450-500 a month.

Buying a foreclosure, I’ve bought a home and have $35k in equity before I’ve fixed the home up. We are planning to Flip the house. However, I like the idea of cash flow monthly. I also want to buy other property with the cash if the sell amount is high enough. Thoughts? Flip or hold?

When buying from a house "for sale by owner" should I use an agent to write the deal? The home is being sold to me well below appraisal. Will I miss anything from not having an agent write it up? This is only my second deal ever! So, I am very much a newbie!

When buying from a house "for sale by owner" should I use an agent to write the deal? The home is being sold to me well below appraisal. Will I miss anything from not having an agent write it up? This is only my second deal ever! So, I am very much a newbie!