All Forum Posts by: Ehren Williamson

Hey @Mason Hickman thanks for the quick reply. They are endorsed on the check. Will that cause any issues? I have to send it to them to endorse.

So I had a hail storm during a refinance. I didn't know you are supposed to tell them as soon as the damage happens I thought I just notify the insurance company. This is my first insurance claim on a house ever. The insurance company sent the check after closing. I have the check in hand about to mail it to them tomorrow, but my old loan is technically closed because of the refinance. What happens next? It's the same lender as before.

Where is all the money in real estate? I've heard stories of people making many many millions. However, everytime I try to find a way to make a lot of money something is wrogn with it. I have been flipping houses and making money but not big dollars. I recently thought an apartment complex was a good idea but lucky for me the BP guys explained to me not to do it rigth away. the overall question is "Where is the money?"

Very interesting Jon. I never even thought about that. So my question is this. Am I better off with multiple SFH, duplex, triplex etc or just 1 complex? I am definitely not going straight to a complex after what you have told me. I just want someone's take on it.

ok, any other advice ? I've had problems in the past underestimating expenses.

Mike, I am worried about having multiple SFH's for a few reasons.

1. More houses equals more possible expenses (Roofs, yards, ETC..)
2. I would have to hire contractors out to different places instead of one central location
3. I think I would get more cashflow from apartments then simple duplexes.

Thoughts? I am still a newbie so try not to laugh at me.

20 years of age Texan. I have made roughly 20,000 dollars this year flipping houses. I have suffered a lot of profit loss from under estimating expenses. I am getting tired of flipping and am thinking about getting a small complex with maybe 12-20 units. The plan is to have a management company to manage the tenants and give me a list of repairs. I plan on replacing common things such as light bulbs to reduce expenses. However, with the tenants I feel I am out of my league. This is why I am thinking of getting a management company.

Thoughts? Comments? helpful advice?