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All Forum Posts by: Jonathan Key

Jonathan Key has started 3 posts and replied 119 times.

Post: Newbie From Dallas, Texas

Jonathan KeyPosted
  • Real Estate Investor
  • Longview, TX
  • Posts 122
  • Votes 62

Hello fellow Texan, welcome to BP!

Post: New Member from Richwood, TX

Jonathan KeyPosted
  • Real Estate Investor
  • Longview, TX
  • Posts 122
  • Votes 62

@Jeremy Fountain Welcome to BP fellow Texan! I am about 5 hours north of the big H. You picked a great place to soak up knowledge, folks are really helpful around here. I will send you a colleague request, I like to stay connected to my fellow Texans since one never knows where a deal will take them.

Welcome!!

Post: Young couple good income bad credit ........quandary

Jonathan KeyPosted
  • Real Estate Investor
  • Longview, TX
  • Posts 122
  • Votes 62
Originally posted by @Dana Whicker:

You have to work pretty hard at it to have scores that low.  A "friend of mine" once had a bankruptcy and 2 foreclosures on his credit and still had a 580.

Wow...that means I did a really good job screwing mine up bad in the day! I'm glad I stopped the bleeding when I did. But even I didn't get in the 400's, that's really low.

Post: Thoughts on on-demand / instant electric hot water heaters?

Jonathan KeyPosted
  • Real Estate Investor
  • Longview, TX
  • Posts 122
  • Votes 62

The only savings one may realize is a space savings. They are more expensive wether they are gas or electric and they still have to be maintained. Just based on personal experiences with both kinds. Just my $.02.

Post: 5 Day notice Illinois

Jonathan KeyPosted
  • Real Estate Investor
  • Longview, TX
  • Posts 122
  • Votes 62

@Mike H. probably knows this one.

Post: Finishing 2nd flip - steep learning curve

Jonathan KeyPosted
  • Real Estate Investor
  • Longview, TX
  • Posts 122
  • Votes 62

@Tim G. First off, very nice work on the house - it looks amazing! Sounds like a very tough 3 months. I am hoping that contractor solicitation and selection in general really bubbles to the top of this on BP. I am a do-it-yourself guy, but I have a day job too. There has got to be a happy medium somewhere in there, I am sure you will find it.

You gave a lot of 'looking back' examples,, but I am curious about how you feel 'looking forward' to the next job? Straight GC? You GC the parts you can? What are your plans?

Thanks for sharing yourexperience 

Post: First rehab question

Jonathan KeyPosted
  • Real Estate Investor
  • Longview, TX
  • Posts 122
  • Votes 62

@Rao V. Get some free estimates first. Then do all the demo yourself. Then get estimates after so you will have a ballpark for the next one how much you save vs. time spent. Use different contractors for the estimates. On the ones that bid pre-demo ask home much less they will charge if the place is demo was done already. Some won't break it out, some will, some will say on a couple hundred. But it will all end up being good information.

Post: I Need a Bookkeeping Solution!!!

Jonathan KeyPosted
  • Real Estate Investor
  • Longview, TX
  • Posts 122
  • Votes 62

@Erik Trefzger Great report! Thanks for sharing all your hard work!

Post: Kim - Newbie Intro!

Jonathan KeyPosted
  • Real Estate Investor
  • Longview, TX
  • Posts 122
  • Votes 62

Welcome to BP Kim, and welcome back to real estate! I look forward to seeing you around BP!

Post: Is a closing agent needed?

Jonathan KeyPosted
  • Real Estate Investor
  • Longview, TX
  • Posts 122
  • Votes 62

@Wayne Brooks So in this example (I have seen some similar in my area, just not for 5k), you could use a full service title company - which most would even provide you with a purchase contract and/or private seller agreement. You pay their fee as the buyer initiating the contract, money is placed in escrow until everything clears. And they would do all that legwork and provide title insurance that (should) clear up all your objections.

Correct?