All Forum Posts by: Ethan Painter

@Ind Kon I'm going through the same thing right now, but mine has been on the market for almost two months. What ended up happening with this??

Hey all! I am searching for my third house to flip right now and I found a great deal. It is a 4 bed, 2 bath, 1984 sq ft, and it's only $28,900. It's in my hometown, which is a great market and houses sell very quickly. This one is not on the MLS or Zillow. It is bank owned, and they have been trying to get rid of it since 2013, but have not marketed it very well.

Anyway, it needs a ton of cosmetic work and there are some leaky pipes that need fixed and I'll have to add a furnace. I can do all of this no problem, but the one thing that is making me nervous is how unlevel the floors are. I had my foundation guy take a look and he says the foundation looks good, but all of the floors, especially in the second level, are super wavy and extremely unlevel. Any idea what would cause this other than a bad foundation? and also, how important is it to have level floors in a flip house? It will sell for about $120,000 after repairs. Should I invest a ton of time and money into trying to level the floors upstairs, or should I just throw some new carpet over it with a thick pad and call it good? I don't know how much time to put into it.

Thanks!

Hey all! I am searching for my third house to flip right now and I found a great deal. It is a 4 bed, 2 bath, 1984 sq ft, and it's only $28,900. It's in my hometown, which is a great market and houses sell very quickly. This one is not on the MLS or Zillow. It is bank owned, and they have been trying to get rid of it since 2013, but have not marketed it very well.

Anyway, it needs a ton of cosmetic work and there are some leaky pipes that need fixed and I'll have to add a furnace. I can do all of this no problem, but the one thing that is making me nervous is how unlevel the floors are. I had my foundation guy take a look and he says the foundation looks good, but all of the floors, especially in the second level, are super wavy and extremely unlevel. Any idea what would cause this other than a bad foundation? and also, how important is it to have level floors in a flip house? It will sell for about $120,000 after repairs. Should I invest a ton of time and money into trying to level the floors upstairs, or should I just throw some new carpet over it with a thick pad and call it good? I don't know how much time to put into it.

Thanks!

@Jorge Manguane Thanks for the comment! I am looking for more of an individual to work with rather than a large company. 

@Isaac Blocher My first flip was technically a house hack, so I did not have an official budget. I lived in the house for about a year and a half, put $10,000 into it, then sold it.

My current flip is right on budget. I purchased it on 4/27/16 and we have 4-5 weeks of rehab remaining. I am trying to line up my next property now so that we can transition into the next one immediately after this rehab is completed. 

Hello!

Painter Investment LLC is seeking a private lender to finance flip properties about twenty miles north of Lansing, Michigan in Saint Johns. Houses sell very quickly in this town and I have lived here my whole life and know the market. I have flipped one property for $60,000 net profit and am currently rehabbing my second property in this town. I am working with a general contractor who is able to do all of the work, which saves a lot of time and expenses.

I am seeking private lending, since the banks are not working with me. I am flexible and can work with you, as long as our investing goals line up. I have a third property in mind that I would like to pursue and can send the details to anyone who is interested. 

Thank you!

@Seth Goetz Welcome from a fellow Michigander! You will find this site is well worth your time. Let me know if I can help you in any way!

@Joe Splitrock, thank you so much! This makes a lot of sense, and I appreciate the real-life example. 

@Nicole A. Thank you so much!

@Todd Plambeck AWESOME. How is this done? Is it just a form? Or do I actually have to go through a "purchasing" process from myself to the business?