All Forum Posts by: JD Gunter

Yes, you should include everything and give yourself a margin of safety because you will inevitably have to fix things that you didn't expect. Even if you plan to fix it yourself, you may get into it and have to hire a professional. Don't underestimate rehab costs. That's the most common mistake.

Good real estate agents behave like competent professionals who are experts in their field based on merit and experience. Too many people hire their brother/sister-in-law who just got their license instead of screening agents for experience, competence, availability, and professionalism. When you hire an agent, you should treat it as a job interview because they will be working for you throughout the transaction.

Getting a loan and paying cash are two very different things. A loan will have underwriting, appraisal, inspection, and warranty deed requirements. The lender becomes a very interested third party that can make or break the deal. For cash, the buyer just writes a check. The process is completely different. 

I'm assuming that you mean the buyer is getting a mortgage or hard money loan. If the buyer has a standing line of credit (LOC) such as a HELOC or Commercial LOC, there may not be an appraisal, lien, underwriting process, etc. You just need to find out who the lender is and what their involvement will be. You can request a lender letter, then contact the lender directly.

I would recommend partnering with a licensed agent in the firm you plan to work for. If you bring someone you trust and respect a lead, I'm sure they will let you watch their process and learn. Hopefully, by the time the deal closes, you will have your license and you guys can split the commission. Even if you aren't licensed when it closes, the education will be valuable.

TJ Klassen with Insurance Centers of America does all of my flips and buy-and-holds. TJ showed me that my old insurance agent had been putting landlord insurance on my flips, which is a problem. Now I run all of my residential stuff through her and my commercial stuff through Tammy in the same office. I'll message you their contact info

@Ryan Riches and his wife @Alyssa Riches manage STRs in Colorado Springs and do an excellent job. 

Welcome to Bigger Pockets! The best option for you will be dependent on your skills, experience, and resources. Many of the people who wholesale or flip are simply doing so to raise capital for longer-term strategies. However, some people genuinely like flipping houses, do much of the work themselves, and take pride in the service they offer. I have clients in Colorado Springs that fit this description and I'm not going to say they aren't doing what's "best," they're simply doing what they must to establish themselves.

I also have clients focused on buying long-term buy and hold investments who are able to get the financing and down payment necessary to consistently grow their portfolio. If you have the capital to grow a portfolio, buy and hold investing is tough to beat. Strategies like RTOs can help boost the returns, but long-term investing has a lot of benefits financially and in regard to quality of life. If you have the resources for it, long term buy and hold is the best strategy here and anywhere.

Email me and we'll set something up. My email is in my profile signature. I'm usually at my office most weekdays 

Mark,

Welcome to Bigger Pockets. I'm happy to connect. Let me know when you would like to come by my office 

Welcome to Bigger Pockets! Thanks for connecting. Let me know how I can help. I'm happy to have you come by my office sometime if you'd like to meet in person.

Why can't you do it yourself yet?