All Forum Posts by: Laura C.

@Mary M. 

Yes, I believe the agent likes the house and is also eager to sell. All the other houses she has sold went under contract within 4-6 weeks, so I feel like she is competent. I will keep an eye on this aspect though, thank you! 

@Rob Duke

Thank you for these ideas! I know my agent is doing some marketing and has shared it with me, but I could request it be bumped up a bit and volunteer to help with it. I appreciate your time and input.  

@Rob Duke

Hi Rob, 

Thank you for the response. I thought I had an asking price that was accurate considering the declining market. I listed it a little bit lower than the comps, but as I mentioned to Amy, I may need to lower it some more. At this point, even if I got my current asking price, I'd be losing money. I will be able to repay most of debts, but the money I put in personally will we lost on this deal. I have debated about refinancing and renting it myself, but according to my calculations it won't cash flow enough to cover the debt service I currently have (I have enough "equity" that I could refinance, but that "equity" is from borrowed money). Thoughts? Suggestions on other options besides selling on the MLS?

@Amy J. Tsang

Thank you for the advice! I listed it at the beginning of this month and did take into consideration the changing market. I listed it much lower than I had anticipated when I thought I'd be listing in August. However, I may need to lower it further. I am working with an agent and we are offering 2.5% to the buyer's agent. I will admit, once I got into the project I learned I didn't buy as well as I thought, but I still have to finish it. Thanks for your input! 

I just completed my first flip . . . yay!! The property is located in the Inland Empire, San Bernardino area. 

I am looking for creative solutions to get it off my books. 

Short story: It was my first property. I made some mistakes and learned a lot. Finished the renovations and got it listed. Running low on funds and need to sell!

Longer version: I used personal debt for the down payment and have a HML on the home. I set aside a significant amount for debt service, but between having to fire 2 contractors and hire a third to fix all their mistakes & finish the renovations AND the project going long I'm running low on funds. What are my options? Please help!

2 bedroom, 1 bath home in rental ready neighborhood! Property was just renovated and updated. Detached garage has water and electricity. Large lot with a large backyard and alley access. According to county literature, the lot is large enough to build an accessory dwelling (ADU) or casita (buyer to do their own due diligence).

Market rent is between $1100 and $1400/mo. The property is a 2 bedroom, 1 bath house with a utility basement, and open concept kitchen & living room. Lots of natural light, a large front porch, and craftsman style details. The home also has indoor laundry, a detached garage, a long driveway with carport, and a fully fenced backyard.

@Maggie H. 

Is the coffee meet up the same Saturday of every month? Or rather, when is the next one? 

@Michael Evans 

When using this strategy to invest with OPM what kind of documentation or agreement should I use? Does this have to go through a lawyer? I have a friend who is interested in investing with me by lending a flat amount and with me providing a return as you suggested in your second example. 

Hi BP community!

I have 2 questions:

1) I recently formed an LLC, and I plan to buy properties using my company rather than my personal name. I'm guessing it's not much different, but I may be wrong. What is your experience when doing this? Any tips for me as I get moving in the next month?

2) I'm preparing to buy my first property in the next 30-45 days, and I have a close friend who is interested in investing with me in an amount of $15k. What kind of documentation do I need to provide my friend? What documentation do I need to provide legally in order to accept that amount of money and deposit it into my business bank account? What have you found is the best way to accept private money--cashier's check, wire transfer, etc.? Does it even matter? 

Thanks in advance for your help!