All Forum Posts by: Mitchell Robert Classen

@Timothy Winfield Thank you!!

@Edgar Martin Great question Edgar, that's something I will need to speak with my CPA about. I appreciate you reminding me, that will go on my to do list.

@Jarrett King Thank you! It's a great feeling to be done with it!

@Aziz Raji I was happy with the way everything turned out, especially considering it was my first one.

@Brett Tousley No problem, I was impressed with that flooring and would use it again without hesitation. Thanks!

Thank you @Katelyn Fusco. As far as selections go, I would be apart of that entire process. While there wouldn't be any doubt as to the GC's ability to get the work done, not every GC has the "end look" in mind. Some have good taste in selections, others not so much. I don't claim to be an interior designer in the slightest capacity but I will definitely have some say as to what my money is being spent on.

@Robert E Bogino Thanks Robert!

@Michael P. Thank you!

@Rocky Griffin Thank you, PM Sent!

@Brian Garrett I liked that tile so much that I used it in the kitchen, bathrooms, and in the showers. It was a nice mix of all neutrals.

@Aida Hofmann Thank you!

@Abram Howard Thanks! I sure will!

@Frank Y. Thank you sir!

@Michael Ratcliff Thanks Michael!

@Umia Mustafa PM sent!

@Kenneth Futrell To be honest with you man, I've worked my face off for the past 5 years. Worked my way through college (in construction), graduated early, got a job with a high-end custom home builder (learned how to build a house), told my dad I wanted to start my own company, we put together a partnership agreement, formed an LLC, he put up the cash, and in the end, he trusted me to execute.

My situation may be unique, or I may be "lucky", but I worked my face off. If I didn't have access to that cash, I would have:

1. Cut expenses, saved up additional cash for a down payment.

2. Approached other family members for a loan 

3. Approached family friends for a loan.

4. Brought the deal to a seasoned investor for a small cut

5. Put the property under contract and wholesaled it (with guidance from BP members, or the title company)

@Ronda R. He's welcome to give me a call/email if he has any questions. As far as finding a contractor, I would join a Local Investor/Rehabber Facebook group, and ask for recommendations. Best of luck to y'all!

@Calvin Mackey Thanks Calvin!

@Enya C. Thank you!

@Jaclyn P. I hired a professional photographer that I've known for over 6 years, she does great work!

@Micah Johnson Thank you! Driving for dollars is time-consuming but can be well worth it!

@Elizabeth Galarza My stager rocks! Greys are definitely selling!

@Natalie Schanne I paid $1,500 for a 30 day rental and negotiated an extra 15 days (not needed). Photography was $150 and done by a professional photographer, I definitely got a sweet-heart deal on that.

@Brandon Vannier The house was about 15 minutes from where I live.

@Erica Ruzicka I spent 3 months driving for dollars and analyzing deals before I felt comfortable pulling the trigger on this one. I was driving for dollars and saw a FSBO sign in the front yard!

@Derrick E. I paid $1,500

@Robin Boyer It was the result of many early mornings, late nights, and hard work from all trades.

@Drew Markert Thank you!

@Tim Trinh Thanks Tim!

@Hector Lozano The best way to learn is from someone else's mistakes, it's a lot less expensive that way!

@Ozzy Sirimsi I sure did. I didn't account for replacing the galvanized plumbing lines, replacing the cabinets (thought I could reface them), or putting in granite countertops. On the next one, I will be smart enough to consider the costs of all the above.

@Adam S. Thank you sir! I would have been happy with far less, considering it was my first one, it was nice to hit a home run though!

@Tom Tran Thank you Tom!

@Asia Ellis 1st - I would recommend saving up at least 6 months worth of income before quitting your job (your job could actually help you invest and provide you with a W2 income that would allow you to obtain a loan).

2nd - Get your real estate license. I'm working on mine now, it definitely gives you a working knowledge to move forward with. I went back and forth on whether to get mine and got tired of asking realtors for comps, to see properties, etc.

*** Read this article, I just got it in an email.

https://www.biggerpockets.com/renewsblog/2013/07/19/quit-your-job-real-estate-investing/