All Forum Posts by: Derrick Thomas

@Tom Lipps Great question. I am curious about this too. Do you do the painting yourself? I need to paint one of my units and I am looking for tips on if you should do it yourself or hire someone.

@Account Closed Thanks for the suggestion. It seems like for paint and small repairs I would be best off to just use cash. I am usually able to save a few thou from my medical hustle each month, so I should be able to reinvest it. Good thing I don't have to go the PML like Aaron.

Does anyone have any experience with doing painting and minor repairs themselves? Is it worth it vs. hiring someone? Can tenants notice the difference?

Even though I agree that this should have been posted in the Crowdfunding thread, I will give my opinion on the topic anyhow. Crowdfunding is great, and will certainly disrupt the industry. There are some great online tutorials and overviews of the concepts, I suggest you start there!

Seeking a source of seed capital for building 3 tiny houses fro quick sale. I definitely want to hop on the tiny house revolution!  Any tips for first time tiny-house builders? What is the average size we should be going for, and how much capital will we need per unit on average? We have a few drafts drawn up, but I am sure Biggerpockets users will have some great opinions about this topic! I am sure we are onto the seed of something great. What do you think?

@Account Closed  I wanted to know if you had any insight on using something like this company on a flip that you just want dump a few thousand into for paint and repairs. I really want to make sure that I don't attach more debt to my primary residence if I'm making repairs to a non income producing asset that I plan of getting rid of.   It seems that with something like these guys you are not on the hook for the debt if it is not attached to a property. Is that true or am I over thinking this?  Thanks.

@Tyler Horton I've actually been working with WCAP financial with some seed capital and was able to secure a couple credit cards I didn't think I'd qualify for. Super helpful people when I was on the phone.

@Shiela Zhao I actually disagree with this a lot. I like to separate work partners from my friends and family and saw a lot of issues with my parents family business.

@Joshua Greenberg 100% agree. It takes time, it's like interviewing candidates to join a company. Seed capital may be a lot and it may be something you want to get over with but you really have to do it right.

@Austin Soros @Account Closed Not sure I'd start investing without an investor or partner. I think it makes the whole process easier to have a partner or team so you can work through the issues together.

@Account Closed for me it took about 2-3 months of going to networking events and searching before I found the right partner. It was just the matter of finding someone with enough experience and seed capital to get started. From there we were able to co-qualify on loans that we used as debt financing for seed capital.