All Forum Posts by: Evan Bell

Hi Walter Key thank you for the response. I have thought about what you said, and I probably should have added this to my original post, but left it out. I am not sure on the exact amount I will be getting as inheritance, and have a feeling that it may not be quite enough to completely self fund the project start to finish. Even if it was, I would feel a bit uneasy putting every penny of it into the project and not having some kind of reserve/emergency fund should I need it. I suppose another option would be to use a portion of my own money, that way I would be able to borrow less from the lender, ultimately putting more money into my pocket instead of theirs. I'm glad BP exists, as so far it has been a great source of knowledge for me. It's given me some ways to think about investing that I previously hadn't been able to wrap my head around.

Curtis Bidwell great find! And thanks for the in depth explanation of the deal. Multis are in my future, a few years down the road. It just seems like there is such an upside to being able to add them to the portfolio.

Thanks Joe B. for the input. My reasoning for using hard money is the same as you stated, mainly the having cash on hand in case I were to run into any issues. I hadn't thought about having more eyes on the deal aspect though, so I'm glad you mentioned that. Always good to have more experienced people than yourself looking at probable deals.

When I did my last deal, I was working full time at night. I worked nights and spent most of my days at the house supervising the contractors and helping with any work I could so I could try and cut down on costs. I am about to switch jobs and will be working during the day now, so flipping will be a bit harder to manage. I'm thinking that finding a reliable, trustworthy contractor to partner up with would be the best bet since I won't be doing the majority of the rehab work myself.

Wondering whether I should use money from an inheritance I'm getting to do a fix and flip, or find a hard money lender instead. This will be my first deal on my own, as the last one I did was a partnership with my dad where he supplied all the money needed. My thinking for using a hard money lender is that I could utilize other people's money and keep the majority of my inheritance on hand as a reserve. I'm planning to start out with entry level fix and flips, 2bd/1ba-3bd/2ba in established neighborhoods. Any input is appreciated as I have never gone the hard money route before, but it seems like it might be a good idea, especially if I were able to do the deal and keep the inheritance as a kind of safety net. Thoughts?

Frank Sanchez thanks for posting. It's always good to hear other's points of view. Discussion/debate is never a bad thing. Personally, I enjoyed the book. I read it a few years back and just just picked it up again to re-read it after hearing all the recommendations in the podcast. For me, it provided inspiration and a fuel for the entrepreneurial side of my mind. Wilson Churchill I like what you said about learning/education. Made me think of the saying, "once you stop learning, you stop growing". Even if the book doesn't provide exactly what a person wants, it can serve to expand their mind and get them thinking about other things. Always a good thing. Just my $0.02

Hello Paul S. and Dick Rosen thanks for the welcome. Dick Rosen I'll have to take you up on your offer to meet for lunch. I took a look at your profile and it seems that we have the same basic ideas as far as investing goes, fix/flips and buy and holds.

Hello to everyone here on BP!!  My name is Evan and I am currently living in Maricopa, Arizona which is just a little south of Phoenix.  I am a poker dealer, but about to get out of that industry as I have just finished up with tech school for HVAC/R.  I am planning on making HVAC/R my day job for the next few years while investing alongside it.

I am a brand new member as of a few days ago.  I have listened to quite a few of the BP Podcasts since finding it about a week ago, and am sharing the episodes like crazy with my wife.  I literally can't get enough of the show, it's great!  I was actually looking for self improvement and motivational podcasts to add to my playlist and ended up stumbling across BP.  

I have a little experience investing, but have been out of the game for quite a while and am more ready than ever to get back into it again!  My wife, Kat, and I, along with my late father flipped a house in Phoenix about 5 years ago, which ended up profiting us about $25,000 which was split in half between myself and Kat, and my father.  I won't go into details of the flip in my intro post, but let's just say that there was A LOT of head butting as my father was supposed to solely be the lender, while letting Kat and I do the rest of the work.  Many mistakes were made, budgets were definitely ignored, and timelines were.....well, what's a timeline??  Despite all that, we still ended up turning a fairly respectable profit for our first deal.  The plan was to do many more deals like this, with the necessary adjustments being made, of course, but plans changed and we ended up not doing any more deals after this one was done. 

Being new parents to a beautiful baby girl, Kat and I are much more focused on providing security for our daughter and the best life possible for her. We know that REI is the perfect way to accomplish this goal.

Right now, our goals include using an inheritance from my grandmother to jumpstart our investing once again.  We want to flip houses and use that cash to invest in more flips, but also use it to slowly build up our "hold-folio" for the long term.  

I look forward to meeting other members and networking in order to learn as much as I can.  I've been lurking around the forums reading A LOT the last few days, and thought that I should make my intro post and let you guys know that I'm here and ready to get going once again!!