All Forum Posts by: Jose Jacob

I do several fix&Flips.  I take Builders risk for 6 months which will cover the renovation time. Once the renovation is complete, I take a vacant Policy.  Builders risk will not cover vacant houses.  Make sure you have the right coverage.  Insurance companies will try their best not to fulfill claims by looking for loopholes.  So it is very crucial to have a right coverage.  Good Luck

 I am not familiar with this particular GURU.  But one thing I tell you, these people make looot of money by selling courses and misleading people.  This is a HUGE business for them. And we are the victims.  Most of them are very misleading. They create some online content and a FB group with all the victims and some of their admin people and sell these courses (docs)  for a huge fee. 

If you want to learn anything, there are ton of YouTube videos.  These courses are NOT any different than those videos, even they say they are.   Bigger Pocket is a very good platform to find people to help you. if you have half a million lying around, then I would say spend some money for these courses.  Otherwise, DON'T   Not worth it.  I was a victim of these GURUs not one time, more than once. 

Tenants laws are different in each State. If they are not willing to move out due to low rent, try to talk to them to receive cash for keys. All these depends on your margin. Its hard to answer these types of question without real numbers. HML is expensive and it is only for 12 months. I would suggest NOT to buy the property if the tenant is not accepting CASH FOR KEYS

I think bigger pocket has a place you can find agents.  The problem is Florida is very competitive and there are so many investors are out there.  Little hard to find what you are looking for.  Not to disappoint you,  but that's the truth. 

 Changing architect and contractors in the middle of a project are not easy and not advisable. You will be more frustrated with new ones, cus they can make your life miserable and expensive.  My suggestion is eat the pain and try to talk to them and get it done what you need to.  Good luck

 Hello,

I am flipping houses for last 7 years. Its not easy to flip houses as a new investor. There are lot of things can go wrong. Money is only ONE of the elements in fix & Flipping. There are several others out there. My suggestion for you to find an experienced flipper and JV with that person for couple of deals to learn all about flipping. Then you can do it yourself. So many GURU's out there make it sounds like its so easy to make seven figure income just to sell their course. Not that easy like they present. Good luck

Not worth spending 12-14K for a mobile unit if you are planning to sell it for $165K   if the selling price was above $500K, it worth it.  Individual split AC unit will do the job.   Good luck

Good idea and good luck with your flips

 If I were you, I will find properties for your friend and get a finders fee.  Once you find property, try to learn the business from your friend.  Real Estate investing is like an ocean. As your friend said, find a niche and work on it.  You have someone to look after and learn the business, which is your friend.  Lot of newbies don't have that option.  Ask him, how to find properties in your market area and find those for him,  I am pretty sure he will teach you the business.  And, finance will come along with it.  If you find good properties, there are so many investors out there who will finance the projects.  

WOW...  $30K for a course ?   Thats a loooooot of money