All Forum Posts by: Maher Bateh

Greg - I am going to use a GC for a house I purchased from auction and wanted to know how are you paying him? Flat or %?

What advise can be given to an older house with plastered walls? Should I just paint over it? sand down? Can I put sheet rock over it? PLEASE HELP!

I will be taking my Realtor's exam next week because in this market, every penny saved is essential. Also, having access to the MLS immediately goes along way in finding deals QUICKLY. I think 1k investment(license and MLS) and a little bit of time to prepare for the test is worth the savings on ALL future flips.

Anyone have any experience with Legal Zoom's Attorney consultation? They have a special where you get a 30 min consultation(as many times as needed) for 1 yr for $190. Sounds pretty darn good. Thoughts.

Sam - Yes vacant policy. Affinity is great and cheap.

@Jack Bobeck - Have you had any luck in bidding on foreclosed homes on the Duval county steps?

Hey josh. Welcome to biggerpockets. I also started investing here in Jacksonville 2 months ago and picked up my first home at the county steps. It's a bit tough with so many investors lurking in the area but if there's anything I can help you with feel free to give me a shout. BTW, Tim was and is very helpful :)

Ron - Nice to see you on Bigger Pockets. I ordered your "skinny book" last week and take the Realtors exam next week.

If I buy and sell houses(flip) as a full time job, do I pay capital gains taxes? I read somewhere if it can be proven as a full time commitment and its the only source of income I make, the capital gains taxes are incurred as someone who does it as a side/hobby. Can someone give me the facts?

Al - the 70% rule is a bit tough right now in the Florida market. Some investors have tweaked the formula a bit. The typical 70% rule that is discussed is ARV x 70% minus rehab costs = MPP. You may want to try ARV minus rehab costs x 70% = MPP. But to be successful using this formula, make sure your rehab costs are accurate.