All Forum Posts by: Kevin Scott

For calls 

Mojosells is pretty simple to use and priced well.

We've also used batchdialer it was ok but early in dev still so will try again later.

Crm. Way too many to choose from.  Pm me I've used a ton developed our own and then dumped it for the one we use today. 

@Travis Steinemann  Totally agree.  I probably should have framed my response a little different.  Basically if not having the extra money doesn't slow his growth/expansion (if that is what he wants). Then by all means it makes sense to keep everything.  If the goal is expanding into several flips or fix and holds at the same time. Or moving into multiple markets etc. Then it probably makes sense to have the extra money for operating capital and reserves.  

I actually disagree with the comments about worrying about taxes (at least sort of).  I'm not saying they're wrong to think about the taxes. What I'm saying is it shouldn't really be your top consideration for keeping or flipping. After all you are able to calculate your after tax income on the property and likely much of the gain will be able to be deducted if you are running a full business that has marketing and other expenses.   Your long term goal is a bunch of rentals, so as the others stated keeping is what you are trying for but if keeping that property keeps you from doing more deals faster then it is probably best to sell it.  

It's hard to say what is best here without knowing more details. I will say if you are worried about taxes more than making money it will cost you a lot of money in the long run.  

To clarify a little more the tax comments are important so I don't mean to discount them but the most important part is your access to capital. If you have unlimited access to capital and if the extra capital now isn't going to increase your growth early then I do agree it might make sense to keep everything. But it's hard to know if you have that ability. BRRR is great but if you burn through operating funds you won't be expanding, which leads to needing to know your full goals.

Anyways just wanted to put a different perspective out there.  Many people are so concerned with saving a few bucks on taxes that they step over a dollar to save a dime.  I am not saying this is what they meant.  

@Cal Valencia Feel free to reach out. We've done most marketing methods and cold calling is one of the few we have on auto pilot. Many of the others we adjust as their roi changes.  

Anyways I can help you choose which lists if you want as well as let you know what tools we use.  Likely can get you lists and numbers for less than most as well. At least I think I can, less than any services I know of and we use a bunch.

Welcome to bigger pockets. We're based out of tacoma and have some meetups once in a while. Hopefully more soon. Just had our annual tacoma rainiers meetup which is always fun.  Let me know if you have any questions. 

I've seen this go mutliple ways.  From my own personal perspective I remember growing up my dad had built our house.  It went real quick until we got occupancy.  (occupancy was granted very early on it too) But once we moved in it took years to complete.  He built a lot of houses quickly for others and did some larger construction projects as well but on our own house it went on and on. Great house just a lot of loose ends.  That being said we weren't flipping it.

I've seen this with others as well where they were flipping and just ended up staying there. Although anecdotal, it seems that way for most the people I know that have tried it.  That being said I do have a couple friends that have done it well getting in and out in  a few months even with a full time job doing almost all the work themselves.  They tend to sub out the drywall taping, roofing and carpet the most.  

Some other friends do the longer term live ins so they stay 2 years then sell for tax purposes.  Seems to work for them.

I'd say what you do to fix it up might depend on what is bad, dated or even needed.  How long you planning on doing the live in for? 2 years for taxes or quick flips?  You own now or renting? 

Your concerns are valid, but they will likely always be a concern.  If the market is dropping you likely won't guess the bottom exactly and if it bounces up you will wonder if it is short term. It's probably more important to go over what you would do if it goes bad.  Regardless of market conditions you can end up with a bad deal.  So knowing what you would do with a bad deal now should help give you an idea of what might happen if the market tanked (making your deal now bad). I think the biggest concern is what strategy to start with.  

Your credit, personal income and savings or buffer should be considered.  These things (whatever the answer is to them) shouldn't stop you from doing your first deal, nor should they give you a pass to do any deal.  They should however affect how you do your first deal, or what strategy you use.  Other things that might matter are your risk tolerance and ability to bounce back if everything goes south.

You should definitely consider doing deals now and all the time.  Your personal situation might just affect how you exit or refinance deals if you get a bad one.  Whether you will be able to keep the deal as a rental by refinancing out of hard money. Or if you have the money to eat the loss. Maybe you need to find a money partner or a bunch of friends that are willing to go in together to limit the losses or maybe even just pay cash depending on the friends.   It's hard to say without knowing your personal situation. 

@Matt J.  Its this Saturday the 24th at 5pm.  Still have around 10 tickets left I believe.

As a side note, if your a newer flipper, contractor,  wholesaler, investor or other person looking to learn let me know before going and I'll make sure to get your some material. Anyone in Tacoma, Fife, Puyallup, Lakewood, Spanaway, Olympia and other nearby areas in Western Washington that wants to some guidance, I'm in the area and will try to set something up as long as we keep it reasonably small for now it should be able to be pretty hands on.

Join us for free food, drinks and fun at Cheney Stadium for our 3rd annual Rainiers Game meetup. Have a great time talking real estate and other business ventures while watching the game.  

Since we weren't able to do this last year, we will be doing even more than in the past. Starting with raffle tickets to attendees for prizes/giveaways including a week long stay in the Riviera Maya.

Whether you are new or experienced, come join us. The smaller size of this venue makes meeting up easy. This year we will be in the 1882 club. Our section holds around 35-40 people so don't wait. Sign up here or contact us directly to let us know you are interested.

If your a wholesaler, private money, flipper, contractor, retail buyer/seller or anyone else involved in real estate its a great time, but space is limited and everything is free so rsvp to get a spot.  

If you are new and looking for some guidance its also a great place we will be there to answer any questions you may have in person.