Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Kenneth Stone

Kenneth Stone has started 4 posts and replied 7 times.

Post: Billings, Montana - House Flipping

Kenneth StonePosted
  • Austin, TX
  • Posts 7
  • Votes 4

Mike: Thank you for the comments. 

I have noticed that those areas are a little pricer but it appears there is a handful on the market right now that could work.  My guess is that they will sell fast being in a good neighborhood.  Specifically looking at the area between the two colleges.  I am also just starting out and open to other neighborhoods.  I would prefer to operate in more established neighborhoods. 

I would certainly be interested in looking at your foreclosure inventory.   

1. I will be self-performing most of the work for the first 2 or 3 and subcontracting work I cant do.  My background is in construction management so not much will scare me off; as long as I can quantify the risk and make the numbers work.   

2. That is very surprising to me.  I currently work in commercial construction as a GC and we have large issues with labor shortages.  We pay 30% more today for labor than we did 5 years ago (quality labor that shows up).  Do you know what the typical hourly wage for a laborer is in Billings?  I will need to review my estimates for electrical, plumbing and HVAC work.  Do you have any reliable contractors you can recommend?       

3. Also a surprise, Texas has an 8.75% sales tax so I assumed any added cost for shipping north would be offset by the sales tax.  I will need to do some digging into this as well and adjust my estimates.

Thank you in advance for your help and taking the time to respond.   

Post: Billings, Montana - House Flipping

Kenneth StonePosted
  • Austin, TX
  • Posts 7
  • Votes 4

Right now I am looking at neighborhoods North of Poly Drive and west of Shiloh Rd.  My focus is neighborhoods with a high density of households making $75K to $100K.  This is my best guess based on demographics of the area but I don't have any "boots on ground" experience to back up my theory.   

Post: Billings, Montana - House Flipping

Kenneth StonePosted
  • Austin, TX
  • Posts 7
  • Votes 4

Good evening Bigger Pockets!!!!

I am a new investor in Texas looking for a good market to start out in.  Most of the markets in Texas are heavily inflated due to the recent influx of people moving to the state making it very hard to find "deals".  

A city that has recently come to mind as a possible location for flipping houses in Billings Montana. Specifically targeting the $200K to $250K ARV value market.

Does anyone have experience working in Billings? I'd love to exchange thoughts with anyone currently operating in the area. 

Howdy BP: 

I currently work for a large GC in the Austin area and my job does not allow ANY additional brain space or time to work on my own investing.  I have saved up and have enough to live on for a year without any added income and I have been successful in getting pre-approved by several hard money lenders.  I have decided to take the plunge, stop building for other developers and do it for myself.  I'm here in hopes to meet other investors and learn all I can; hopefully, find an experienced investor to work with.   All the podcasts advise that you should offer something in return for advice.  I can offer 2 things that I believe to be valuable. One is 9 years experience in the construction industry working with highly sophisticated owners, end users, and contractors.  I can provide insight into the best practices for a smooth and efficient project.  Second is time; I have made the decision to work for myself full time and will put all my energy toward any deal I work on.  

I would love to meet and discuss any possibilities. 

I honestly just can't bring myself to spend money on mortgage insurance. If I abound the FHA I can close faster and no added cost of the insurance.

Howdy!!!

This will be my first post on BP so please excuse any obvious issues. 

I finally saved up enough for 20% down on my first property and I plan to purchase a condo, do a live-in flip over the next year and then rent out the unit.  If the flip/market adds enough value I may refinance for a BRR.

The next step is financing.  I have great credit and 0 debt so its not a huge issue but i want to find the best deal.  I'm also a first time home buyer so I'm sure there are lots of great deals out there.   

Has anyone worked with One Trust Home Loans before?  My agent recommended them and they are very responsive.  

If anyone has an Austin bank that they swear by I would certainly appreciate the help.   

Howdy!!!

I have been listening to the pod casts for a wile now and decided it was time to test the waters.  My goal for now is to learn as much as I can before I attempt to find a good deal to house hack in the austin area.