All Forum Posts by: Jeffrey K.

I would go with light fixtures, vanity and toilet, counter-tops, paint, flooring, and plugs and switches. Some of these will save you money and trips to the property in the future.

I started investing in my current market 3 years ago. I have seen two deals in this time that could be resold for a small profit in that time. This is not enough to make a living. Make sure your market can support another wholesaler.

Are you doing a lot of deals in the 100k range? If you can make money doing what you are doing they keep with it. If you try to target another market you need a whole new set of customers and clients (expensive). If you want to work with expensive houses become a realtor and sell to owners.

Sounds like it is going to be a hard sell. What do the numbers look like? Can you back out of this deal still? Ophelia, what price do you think he is going to have to ask to get it sold in a month? Do your numbers work at this price?

I let tenants call from 8-8. If it is a gas emergency they can call the utility. If it is a fire they can call 911. If a water line bursts I want a call in the middle of the night. I hope I will be able to afford an answering service for emergency calls in a few years.

Might make sense if you think you can pay off the loan.

You will have to deed in an deed out to finance if it is not commercial. Under 4 units = residential.

It depends what state you are in. In WI, you can form an LLC online through the state website for $130. I keep every property in its own LLC. This is best if you can afford it.

To see what is right for you, talk to a lawyer, cpa, and insurance agent.

This topic has been talked about hundreds of times... Search for it and see comments.

Tile costs most people about $7/ft to lay with materials. Add your tile price to this and you should have a good idea.

Did he let you buy in or do you own it outright? Why is it going to take so long to get tenants in if the rehab is only a month. You should shoot to be rented in two and start paying that 3k off!

Lot of guru lingo going on here. Find the deal and then find a lawyer to help you. Any real estate lawyer should be able to help you with basic stuff or point you to someone who can help.