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All Forum Posts by: Jared Anderson

Jared Anderson has started 9 posts and replied 14 times.

Post: Recommendations for General Contractor in Houston area?

Jared AndersonPosted
  • Houston, TX
  • Posts 19
  • Votes 7

Recommendations for General Contractors for fix/flip in Houston area?

Post: Offer letter and proof of funds letter for wholesaling?

Jared AndersonPosted
  • Houston, TX
  • Posts 19
  • Votes 7

Should a wholesaler have proof of funds letter and an offer letter or is the purchase and assignment contract good enough?

Post: Where to find good assignment contract?

Jared AndersonPosted
  • Houston, TX
  • Posts 19
  • Votes 7

I am in Texas and I have a purchase agreement from the Texas Real Estate commission.  I am wondering where to find a good assignment contract.  Is an online company like Legal Zoom going to provide a perfectly fine contract?

Post: Fix/Flip Inspection Contingency?

Jared AndersonPosted
  • Houston, TX
  • Posts 19
  • Votes 7

@Michael Dumler If time allows in a slower market and the property they are dealing with looks a bit more rough, is it typical for a flipper to have a home inspected before going under contract?

I will present this same question to a lawyer but just so I have an idea going into that meeting please help me with the following question.  

What is the best business entity, for liability and tax purposes, to have a fix/flip business under?  

Are there certain strategies flippers use to get the best tax breaks?  I am aware of the 1031 exchange, I was curious if there were more.

I am in Houston, TX for location specificity.

Post: Fix/Flip Inspection Contingency?

Jared AndersonPosted
  • Houston, TX
  • Posts 19
  • Votes 7

Is it typical for a flip deal to have the deal contingent on a favorable home inspection to protect the flipper?

Post: Houston area flippers

Jared AndersonPosted
  • Houston, TX
  • Posts 19
  • Votes 7
Quote from @Mitch Messer:

Hey @Jared Anderson, here's the best way I know to impress an experienced investor...

... bring them an actual, well-analyzed, profitable deal and then request to joint-venture with them to take it down!

You would definitely stand out from the pack. 

For the record, please do not ask to pick their brain, or to refer you to all their best contractors, or to be your mentor!

Yea if roles were reversed and I had someone asking need those things, that would get on my nerves so I'm not about to do that.  Thanks for the reply.

Post: Houston area flippers

Jared AndersonPosted
  • Houston, TX
  • Posts 19
  • Votes 7

Hello, let me start out by saying I truly admire what house flippers do. It is what I want to do someday. I say "someday" because right now I'm looking to build a relationship with someone in the Houston area. I will be joining a REI club soon to meet people.

I know that it is rude to ask to learn from someone without offering something in return. I want to learn what is certain investors are looking for so I can go out and hone my skills by helping them find deals. Other than this route, if you are new to REI what is a good way of providing value to an experienced investor?

Post: Starting out with hard money or private lender.

Jared AndersonPosted
  • Houston, TX
  • Posts 19
  • Votes 7
Quote from @Abbey Humphreys:

It can definitely be situationally dependent. What are your goals/history in the industry?


 I want to fix and flip but I know that is risky for a newbie.  I heard the best way to start is either partner with someone experienced or wholesale to gain experience.

I realize I phrased my question wrong.  I meant to ask: Do most new people start fix and fix journey with hard money or private lending vs. going some other creative route?

Post: Starting out with hard money or private lender.

Jared AndersonPosted
  • Houston, TX
  • Posts 19
  • Votes 7

When trying to complete your first fix/flip, do most new people use hard money or private lender?