All Forum Posts by: Kurt Traynor

Welcome to the community @Doug Steinberg you’ve on the right track!   Good luck.  Oh and for the realtor course my wife had a really good experience thru Buffini.  Great support, not sure if it’s offered by you but reputable company over here in Sarasota 

@Andrew DeWeerd. Congratulations. My family have completed a few live-in flips but I just finished my first non occupied flip in Ellenton (closed yesterday!!). Would love to her more about “opportunity zones”.

I closed on a property today after winning an auction site unseen. My question: the unit has been modified to accommodate a wheelchair. The walls have been cut to widen and other modifications made to accommodate. My question is, is it worth rehabbing to get it up to code to attract handicapped buyers? I was planning on a total gut anyways, but has anyone had any experience on flipping for handicapped? Never really thought of it until now and I think that this would be a good thing.

Please do not take this statement as being incentive, but I travel a lot and sometimes Marriott will put me in a handicap accessible room and I would prefer a regular room because the bathrooms are too big. With that being said, unless I have a buyer in hand, I’m hesitant on keeping the current modifications as this may turn off the majority of buyers.

Unit is 2/2 villa in Florida

Any advice or experience? TIA

Looking forward to it..  

@Cole Burley many different thoughts on this so you will get many answers, just need to do what is right for your situation. Similar to what @George Blower described was my situation. I took out a $30k loan against my 401k at 5.7% with an initial $100 fee. I invest they VoYa in a 2040 fund and there’s no early payment fees, I am set up on a 36 month payment which is deducted From my W2 jobs, pay check. I took that money and purchased a flip property in October and will close Feb 1, giving me back my initial $30k plus profit. I’m going to reinvest that initIal $30k into another property. During which my day job pays off the $30k loan.

Negative to this Strategy is that my returns of my fund were about 17% due to the hot stock market. So yes it is kicking the can but without doing this I’d still be “saving” instead of Acting and ramping up a business.

Check with your employer about 401k loans, instead of pulling it out. Pulling out cones with fees but borrowing is borrowing from yourself.

Super Excited that I just received an offer to purchase my first Flip property and I'm not even finished with it!.  I listed it For Sale By Owner and had a realtor bring clients in yesterday and they sent in an offer that I accepted!..  I'm still working on it but they loved what I had completed so far and can't wait to see the finished project.. I'm doing all the work myself so I'll be working a little later!!...   just wanted to shout it out as I'm so excited about it.. Plus there offer is $11,000 more than what the unit next to mine sold for..   looks like I'm setting the Comps higher, which is great because I close on another unit 5 doors down!

@Alex S. I’m sure others will chime in but I just wanted to add my experiences with auctions. I’m currently flipping a Hubzu home and in contract with an Auction.com home. Both were previously “sold” but then both came back up and I won both. If there’s a property you liked keep an eye on that site, odds are it may come back up. Not exactly the info you were looking for but thought worth mentioning. Good luck.

@Marci Stein I’m in that boat right now. I just went into contract for a condo that’s listed as occupied, that I bought on auction. I haven’t seen any signs of life, and I’m here a lot because I’m flipping another unit a couple of doors down. Haven’t spoken To the neighbors yet but I do know that there’s a disabled conversion van in front of the unit that I assume is theirs, however I haven’t seen anyone in or out or any lights on.. wish me luck!!

Welcome, well almost, to the area.. I live just outside of Bradenton, in Palmetto.. I don't spend much time on here, or at meetups.. I've been a house hack flipper for the past years..but about to close on my first Flip in a 2 weeks.. I've finally found a friend who wants to dive in with me, so he's funding it for us.. this is sure to grow into more than just a small flip partnership, as I have 1 rental right now and want to grow that Buy and Hold portfolio as well. I purchased a new build in the wintertime, and plan on utilizing that as rental as well.. My wife's a realtor so scouring the MLS has been my go to right now, however I found my pending contract from an Auction. reach out when you get in town

Please let me know when your next meet up will be..  thx.