All Forum Posts by: Erika Collins

@Rick Baggenstoss That is exactly what I needed to hear for how to proceed, thank you so much for taking the time to share how you do things.

@David M. & @Glen Wiley thank you for taking the time to comment, I really appreciate your insight! I have a much better understanding of what to do going forward. 

Hello everyone, I'm doing my first flip on a property built in 1973. We are under contract (in the due diligence period) and trying to decide if we need to have a lead paint test done. I've read on some threads that this isn't necessary, and others say you do, so I'm really stuck on what to do. We will be taking out a wall to open up the floor plan and I don't want to be exposing anyone to lead dust, but I'm not sure a test is necessary if the materials are being removed regardless? Does anyone have experience with this - do you always test for lead when you know you'll be taking out walls? Thank you in advance for sharing your flipping wisdom!

Hello all, I'm buying my first flip and I'm (unsurprisingly) a little concerned about what might be lurking in this home... Does anyone have any recommendations for home inspectors that are really thorough in the Atlanta area? Also wanting to do a sewer scope so one that does that as well would be super helpful.

The seller is another investor that seemed like they were going to start renovating and stopped, so I'm worried that there is a problem that he is not being forthcoming about - and a problem, I definitely don't want to be missed on an inspection! Thank you in advance!

My husband will be getting a new job there and I'm self-employed if that's what you're asking, I'm not sure if I'm understanding you correctly. We are hanging onto our current primary to turn into a long-term rental so I guess that's an additional piece of the puzzle.. it's getting a little complicated! But I think I'm understanding correctly that if we have a long term lease on this house, it won't count against our DTI. And yes, that is helpful, thank you!

Thank you @Jonathan Styer and @Chris Mills, I appreciate your input! It seems like holding off until we have a new primary purchased and going from there seems like the safest bet. 

Hi all, thanks in advance for your help! My husband and I are moving out of our primary residence to a new state while simultaneously trying to invest in a short term rental condo and flip properties. The flips will either be cash deals or funded by a private money lender. My question is, is it going to screw up our debt-to-income ratio (or anything else) for getting a loan to fund the new primary residence? I am not sure if we need to hold off on the investments until after we have found a primary residence and closed, but the issue is I'm not sure of that timeline (may be later in the year, may be sooner) and I want to invest in the meantime, but not mess up our chances of getting a home for us. Any insight would be super appreciated!