All Forum Posts by: Demetrius Charles

The reason why I am concerned about the 20% is because I do not want to slow down my flipping business.  Currently that will be a fairly strong capital drain on that business.  If I remove to much of that capital it will slow down the potential to flip and create capital for other buy and holds.  I feel like this is a typical problem with this process, and I am looking for another way.  200k investment on a single structure would be fine, but that doesn't leave me a lot of room left to continue to do flips to create the same liquid capital and buy the next building.  Also, 10 unit building I am looking at is just over 1 million in purchase price.  

I am looking for help.  I would like to purchase 10 unit apartment buildings.  I am hoping to purchase it with less than 20% down.  I have my eye on a property already, but I am nervous about putting the 20% all into one deal.  Does anyone have a recommendation for me.  

This is great insight everyone.  Thank you for sharing your experiences and recommendations.  I will continue to do my due diligence.  In the meantime, if you know of resources that I could use for self study, please do share.  I am youtube trying to find the videos to use Quicken to see how to create the P&L for each property and estimate actuals vs budget for these flips.  

I am a newer investor. I have now started to purchase property in my LLC. I received a recommendation form another investor to use Quicken. So I went ahead and purchased that. Did I make a mistake? Everywhere I look I see people using Quickbooks? What are the big advantages I am missing out on by not using Quickbooks?

My business is focused on buying and selling single family fix and flip homes. I am also looking to purchase and hold 4 to 10 unit buildings in this LLC as well. I met with a enrolled agent yesterday that was also a book keeper. In that meeting I was given some general ideas, but I didn't feel I had a concrete direction I could go in. She stated Quickbooks is her recommendation.

In other areas of small business I have seen a lot of of people use Quickbooks.  But I didn't feel I had the complexity yet to need Quickbooks.  No employees, not processing payroll, no inventory act. That plus the recommendation; are the reasons why I chose to Quicken.  

Does anyone else use Quicken?  if so, is it working for you the way you want?  For those using Quickbooks, please share how you keep your books with a bookkeeper.  

Thanks everyone.  

I just completed my first non-owner occupied flip.  Super excited.  I have to say from the forums to the YouTube channel you all rock.  I just wanted to share my appreciation.  This deal and the pursuit of it, has now turned into some great opportunities.  I have two other folks that want to invest with me now.  If anyone has tips on how to bring on investors, I am all ears.  But, thank you bigger pockets for all that you offer us new investors.  I will be sure to share what happens with the next one.  

I have now purchased another flip.  I have been asked to be the president of a newly formed partnership focused on buying and holding real estate.  If you have tips on structure and processes please share.  

Thanks for the suggestion Corey.  

What is the best place to buy appliances for flips in the twin city metro area? I need a range, dishwasher, microwave hood combo and a refrigerator.  Are the big box stores the best option?