All Forum Posts by: Luke Mitchell

Hello all. I'm a newbie at the REI game so I'm curious how to go about my first flip. My wife and I are in RE now as a handyman and Realtor but we are seeking to form a LLC to strike out on our own. I have sought out and found a few private lenders online but wasn't exactly sure how and if this was the best route. I have read several discussions talking about using a bridge loan first then going conventional. Is this a better route for a first time flipper. We have excellent credit (750) and have some liquid assets. We would prefer to have a loan cover the house as well as expenses. Obviously, since my wife is a Realtor we have access to the MLS and know the area well enough to feel comfortable taking on this flip. Any help for a newbie is appreciated.

@MJ Cobb Yes I was affected but only 7 days without power. I stayed with family but other on my street and a few over were greatly wrecked. My father in law suffered a bit but the insurance company has been generous.

Hello all. My name is Luke Mitchell. I am currently a maintenance repairman for an apartment complex. My wife and I quit college to get into flipping houses back in late '07 and we all know what the real estate market did back then. So since then, she has become a Realtor and have been doing the maintenance gig. We have just sold our house and are looking to get a bank loan soon for our first flip. I found this forum looking up info on Google. I downloaded the app and am doing as much research as possible. We have a CPA we are.working with to see if we should LLC or incorporate. I hope to learn from you guys and contribute if I can.