All Forum Posts by: Kyle Forbes

BTW I should have mentioned that I'm looking for a partner in the hampton roads area

Hello everyone! I'm a new real estate investor who has some cash reserves and ability to obtain financing, and I'm looking for a mutual growth relationship with a partner. If you are a person who has strict criteria, wants cashflow, and is mostly focused on building equity I am a like-minded individual who would be beneficial to work with. As long as you have experience to make up for my lack-there-of we can achieve much more together than we ever could apart. If you've reached a ceiling in your investing career and are looking to scale up, I wholeheartedly believe that I'm the man for the job, and together we will be millionaire real estate investors.

I was looking at a house that was $20,000 and needs an extensive rehab, but I have never done a flip before so I have no idea how much money it would take to flip this house. I went to this house and recorded my walkthrough of the house so that I could get a ballpark guesstemate. If the estimates are what I'm hoping they are (sub 50k) than I'll go back with a contractor to get a much closer estimate. Anyway please look at the video I posted and tell me what you think it would cost, to the best of your ability. https://www.youtube.com/watch?v=LE-TxhAUriA

One of the first things I learned in my Intro to Business class is that if a lot of companies are selling a similar product, often times that just means that the market is large enough to sustain a lot of competition. Selling in that market shouldn't be avoided but pursued.

What about sites like auction.com? How do people pay then?

I did that, but I still don't understand everything. Do investors have every house built before 1978 checked for lead based paint or what? The lady I talked to said you don't have to unless it's government money. Can someone please elaborate?

First let me preface this by saying that I'm not going to jump into anything, or make an emotional decision without doing due diligence, and I would never go this route unless I knew it would pay off - That being said when you buy a foreclosure at an auction or sheriffs sale, you have to pay cash correct? Does that mean that if you wanted to use your credit card you could just swipe it, or do you have to get a cash advance?

Ok thanks!

I'm looking at a house right now where I could probably clear 50k if it weren't for the possibility of lead based paint. So how much does that take to fix so I can figure it into my calcs? What does the process involve? BTW the house is 2 stories and roughly 1600 sf.

gotcha