All Forum Posts by: Jesse Palmer

@Danielle McClelland WWE inadvertently got into lipstick rehab live in flips before we really knew what we were doing when we were 30. Now sitting at 39 we are taking on an active role and plan on closing on our first flip next week! Then the fun begins! After that we may finish out our walk out and try Airbnb. Fun stuff!

Things are moving along smoothly. Looks like the home will meet FHA requirements and we will have to pay a bit more to get the crawl space dried out and have some blocks repaired, then have it re-leveled. We requested 8k off our current price and they came down 3500, so it's a win. All in at 51,5 and closing on Nov 8. Now I'm hunting for a good credit card for rehab expenses that will ideally give us some nice travel points. Also getting contractors in place to knock out the rehab. If all goes well, we plan to put it on the market late January or early February although I totally know Murphy is creeping around somewhere. If all works out we stand to make a nice profit which we will look to reinvest most of it, but may take our ten year anniversary trip to Bora Bora next year...at least it's a nice goal!

Jonathan, thanks for the insight. Im not too concerned with the rewards, just hoping to get a little money back this way which we'd throw back on the HELOC. I'll keep this posted to relay how it goes. Thanks again, and I hope all is well in NJ!

We are looking at closing soon, barring a catastrophe, on our first investment which we intend to flip. We plan to purchase the home outright with a HELOC we have out currently with plenty of access to funds left over. We are planning on going for a 0% interest CC, ideally with cash back to fund the rehab but also to make the HELOC payments once we tap into it. The other side of the coin is that we have been considering then, paying the CC bill with the HELOC and of course after selling, paying both back off completely. Has anybody ever used this tactic? Thanks ahead of time!

I've been reading as much as possible about REI and decided I wanted to go with a long term rental strategy in an effort to leave my job as a police officer in six years. My goal is to replace my income with rental income and I've been reading a lot. I'd like to go to more REIA meetings, but I'm always working nights! In my search for a rental I came across a very good agent in our area and met him for coffee to discuss goals. Ultimately, he presented me with an off market opportunity which he had yet to list...a double wide on five acres. We checked it out within 48 hours and quickly decided to flip would be the way to go. It was going on market for 70 and we offered 55 cash. So far, so good. We are using a HELOC for the purchase and I am skulking around for decent 0% interest credit cards that still have rewards. Now we just need to ensure there's nothing too glaring post inspection and that the home will be suitable for FHA post-flip. Our fingers are tightly crossed, and I'm grateful to have found such a community to bounce things off of! If this works out, as I suppose it won't to the exact plan as Murphy likes to but in, we will pay off the HELOC, and reinvest into rentals or another flip if the right opportunity comes up. Although I'm just now getting into the woods, it feels amazing to be taking action. Any pointers are certainly welcome for this rookie!

Best regards,

Jesse P.

@Joe Marcum Hi Joe, I thought you looked familiar! I attended and really enjoyed it. I'm a little lean right now for the course but hoping to find a reputable note seller. I've been looking at AWB, PPR, and ACI to invest my Roth in a first position performing note. If anybody has any recommendations, I'm all ears and would appreciate it.

@Jeff V. Jeff, thanks a million for the information. I'm ultimately just hoping g to network and completely open to invesing in other states. I've been window shopping a few first position notes but much like U2, I still haven't found what I'm looking for....or can afford just yet! Thanks again!

Anybody working much with notes in Central KY? I'm new and hoping g to find others who are interested or if there are some solid performing notes I can invest in with my Roth to begin taking some action. Thanks!

@Mark Whitted Really great to see how it's going! I'm a rookie hoping to start with performing notes with my Roth. Just searching for a reputable organization to do business with.

@Martin Saenz Thank you, and I really enjoyed your book! Looking forward to getting started hopefully with my Roth then moving onward.