All Forum Posts by: John Ala

Who did the work

I thought about a quit claim to myself but that defeats the purpose of having the asset owned by the company.

The company owns the property, so that makes the loan a commercial loan. The business is only 1 year old and so no one want's to talk to me. I only need 300k so the amount is too small. How the heck is BRRRR supposed to work???

HI Patrick,

DM me and let's meet. I finished my first flip this year and should have #2 on market in a few weeks.

John

Well of course don't over do the upgrades! 

The biggie is time really = money. The longer the Reno the more you spend therefore make decisions based on time first. If you can do x in a week or x in 2 days do the 2 day thing.

Rework really killed me on this job!

Investment Info:

Single-family residence fix & flip investment in Spokane.

Purchase price: $40,000
Cash invested: $137,000
Sale price: $205,000

Lots of learning, not so much profit

How did you find this deal and how did you negotiate it?

My realtor found it, part of estate liqudiation

How did you finance this deal?

personal cash

hey guys, I have been here 6mo and have my first 3 properties ever. I have learned a lot and would lo e to meet others doing or wanting to do REI

We have been happy with Easy Electric 

Rentals are hot but not my thing right now. Almost everyone I meet doing REI is doing rentals.

I have one flip that should be listed end of jul and expect net of $45000 another end of Aug should net $25000. so that would be 70k in 5 months. a little less than desired but acceptable ;)