All Forum Posts by: Duke Marquiss

The answer to your topic question is: YES

The one great thing is that everyone has a different vision of the same rainbow.  It is probably a good thing, otherwise we would all be in love with same women.

I think you are ok as long as the deal is to fix and flip.  A longterm hold may cause the bank to have heartburn and call it due.

You could also create a Joint Venture.  This is an agreement that defines what each of you do and contribute to the deal.  Be sure and spend the money for an attorney.

The great news is that deals like you are doing is most compared to an artist.  Blank canvas and you paint the deal.  It is conceived in the cracks of your mind.

Go for it and look for the next one.

Now is the perfect time to sell a property such as yours.  You are able to take any profit tax free, based on your information.  Be sure and check with your accountant.  It is one of the few times that you can wipe out any phantom income that you have due to depreciation and not pay any tax.  I know of several people that have bought and sold every two years each time buying a bigger and better home.  They buy value as well as a home, then fix it up, live in it until their two yeas is up and then do it again.  They have ratcheted up very quickly.

Happy Investing!!! 

We use CL for selling our homes extensively.  It is also a good place to buy notes and deeds of trust.

As we are rehabbing a house, we will also post cabinets, windows etc. as free items.  Saves quite a little on dumpsters.

Welcome to Bigger Pockets.  You are starting out the right way.  You do not have any preconceived notions or beliefs.  Ask questions of anyone that deals with the real estate industry.  Stop by properties being rehabbed and as if you can look around.  I have always found that if ask for help, there is a willing teacher to help you.

Don't let anyone tell you that you are only 16.  I was 14 when I leased a ranch.  You just have to "figure it out".  What part of AZ are you in?  I have a daughter and her family in San Tan Valley.

Just the normal.  TV software, servicing companies, First Nat Acceptance, Marc Gold has a new service that will handle all aspects including tax monitoring, title curative, foreclosure etc.  Programs were all very good.

it is. If you can give me your email address, I will have Linda in my office send to you. 

This property was in a pool of loans that we purchased.  We have cleared the title and the price indicated above is net of taxes.  Call and ask about our seller financing.  970-218-2296

Square footage of the lot is unknown.

@Mitch Stanley Sorry that we did not meet up.  I thought that Dean's talk was one of the most informative presentations of the conference.  We blew out of town Saturday evening so were not able to meet up with him.