All Forum Posts by: Kyle Doney

@Chris Simmons This is an old thread, but doing some research and tend to agree with your stance on LLC vs personal name. My question for you though is, why form a property management company for your rentals? What is the benefit to doing so?

@Ramy Khalil To verify contractors company info and look for any liens and judgements, address verification. Tenants background verification, any judgements, confirm past residence addresses, etc. 

@Bill S. Made the decision to convert it back to a garage. Couldn't find one comp in the area with no garage. All the neighbors have garages (mostly 2 car), so I think its in our best interest. The floor was slopping pretty bad, so we would of had to do some work to the livable space anyway. So money spent was about the same.

No access from the side and no alley.. 

@Kevin Eckley What is the pricing for Investor Fuse?

Always take care of your investors first.. Sounds like he didn't adhere to that rule. This happens all too often. 

Overview:

Montbello was named the hottest suburban housing market in America (Denver Post), averaging a 20.6% annual rate of home price appreciation! This is a lovely brick ranch with a HUGE floor plan that has 6 total bedrooms and 2.5 baths. The ranch style allows for an open floor plan upstairs. The home is in overall great condition and needs minimal work to flip. This is an easy lipstick flip. It would also work as a rental and could be cleaned up and ready for tenants quickly. 

• Huge Floor plan: 6 Bed 2.5 Bath
• 1333 sqft Up & 1333 sqft down = 2666 sqft total finished living space
• Built in 1972
• Roof is 1 years old
• Will be a 30 day rent back from close date (maybe less) ($70/day fee with 4k in escrow account)
• ARV Estimate: 325k
• Fix Estimate: Rental: $1k, Flip: 25k

*Property is occupied. Please do not approach. Call for a showing.

Pictures and More Info Click Here

Denver Colorado peeps, opinions? All the other houses in the neighborhood have garages. I've had mixed opinions from people I've asked. 

Google changed their settings and Joes video no longer applies. Having trouble figuring out how to get the calls to go to Podio. Does anyone know how to work this now? It doesn't give me the option to switch my primary email address or to add a new one (the podio address).

@Stephen Jackson The better mousetrap is sourcing your own deals and cutting out the middleman. If the middlemans deal still works for you though, who cares. 

@Hector Lozano Your mentor is wrong. My guess is that he's telling you that cuz he wants good deals form you. Go for top dollar, don't worry about the flipper. If they want it, then they want it. As long as your priced right and it moves, doesn't matter what you make.

Some flippers don't want to see you making big money on a wholesale.. You need to protect what you're buying it for because they can blow your deal and back out because they think you're making too much. Same with the seller. If they see you make 20k flipping it doing nothing, that could blow the deal as well. Usually if I'm near the 10k mark and over, we double close. 

1. Address this in op agreement. Buyout agreement in place for whoever wants out if the other doesn't agree or option to bring in a new partner to buy out share. 

2. Your lender can make both parties guarantors on the loan. 

3. Yes, its a good idea to.

4. Good idea. 

5. A must.