All Forum Posts by: Jason Hutcheson

I am under contract on a flip that is not in my area so I will be hiring a GC to manage the renovation on this project.  I am not familiar with the rates for GC services so wondering what advice any of you could give.  Is it standard to pay a fee or a % on profit of the project or both?  Have you incentivized a GC with bonuses to meeting or exceeding cost/schedules?  I have been serving as my own GC on all my projects up to this point so not sure how to approach it.  Any advice would be appreciated. Thanks!

I have an owner who is open to seller financing and need some advice on how to structure the offer. The owner doesn't need to show alot of additional income for tax purposes but wants to sell the house.  I have not done a seller finance deal before so not sure what to offer on down payment or terms.

Thanks for all the replies and messages!  I have plenty of options to explore now! 

Hi, I am loooking for suggestions for finding hard money lenders in Arkansas or surrounding areas.  I have done several flips and I am trying to scale up and grow.  If you have suggestions on anyone I could contact or make a connection with please let me know.  

Hi I am currently on my third flip project and I think I am to the point where I should setup an LLC to operate under. Up until now I have only done my projects under my personal name. Can anyone give any advice or do's and don'ts when setting up an entity to operate a flipping/real estate business?

Also, I have a couple of other properties as well. One STR and one LTR. Each of them I own under my name and not under a business entity. Any advice would be appreciated!

Hi folks!  I am new to the forum and have a few questions on 1031 exchanges.  I have read quite a bit of information in the forums here which has been great but wanted to make sure I am clear on the requirements.

I have a home we purchased over 2 years ago with the intent to rehab and flip.  For various reasons we ended up holding onto it until mid 2021 when we really began on the rehab.  It has been a major remodel and we are almost finished with it.  I expect to be completed and have it on the market in February.  With the market in my area I expect it to sell quickly.  My projected profit on the sale should $100k-$125k.  

My question is since my intent was to rehab and sell this house and not hold as a rental or investment property does that mean that I cannot do a 1031 exchange to avoid the taxes on that income?

Can anyone share any advice on lowering my tax liability on the profit if I am not able to 1031 into another property.

I appreciate any help or advice!

Thank!