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All Forum Posts by: Mike Reynolds

Mike Reynolds has started 31 posts and replied 2027 times.

Post: Agent / Investor / Syndicator - Texas Based

Mike Reynolds
Pro Member
Posted
  • construction
  • Nacogdoches, TX
  • Posts 2,089
  • Votes 1,159

@Matthew Carducci Sorry Matthew, I just got this note as I have been busy. I will send a friends request and contact info. I can then text you what you need.  

Post: Agent / Investor / Syndicator - Texas Based

Mike Reynolds
Pro Member
Posted
  • construction
  • Nacogdoches, TX
  • Posts 2,089
  • Votes 1,159

@Tammy Mitchell. Hello Tammy. Like the others here I am planning on investing this spring also. I will be combining some IRA and 401ks into an SDIRA around the first of the year. I have been a contractor or in construction all of my life so if I can help in that regard just let me know. I have an almost endless number of subs in my phone that work with me.

@Emily Hakala. Emily, the guy I work for now has had me working the New Braunfels area for the last few years. If I can help with anything just let me know. Mostly subs that are awesome but will work cheaper than most. The RE stuff you may have to defer to someone else though as that's not something I am comfortable with yet. That area is really booming there now. Good choice.

Post: Buying a property from Hubzu

Mike Reynolds
Pro Member
Posted
  • construction
  • Nacogdoches, TX
  • Posts 2,089
  • Votes 1,159

I would add this also. There are many neighborhoods in my small town that list rent at 1200-1400 but there are some right next to those that rent for 900. Don't scrimp on the cosmetics and you can be assured of the higher rent. That doesn't mean you have to spend mucho mullah either. Just be careful of your dollars spent.  

Post: Foundations

Mike Reynolds
Pro Member
Posted
  • construction
  • Nacogdoches, TX
  • Posts 2,089
  • Votes 1,159

I was a contractor here in Texas and when you say watering a slab I think about the curing process. Is that what you mean? Concrete will increase its strength greatly in the first seven days after it is poured. Most concrete contractors will do it all in one day. Commercial specs sometimes call for water curing for three to seven days. A water cured slab for seven days will be 50% stronger than without water curing. If you water cure for only three days it will give you 80% of that strength of the seven day cure. With shedules being tight almost always most opt for the three day cure.

Post: How to utilize my old IRA.

Mike Reynolds
Pro Member
Posted
  • construction
  • Nacogdoches, TX
  • Posts 2,089
  • Votes 1,159

@Ken Badziak I have actually been thinking about transferring the IRA into the ROTH. The ole' proverbial Band-Aid thingy. It might be the best thing after all. haven't vetted the entire process yet but I am looking for help in that respect.

Post: How to utilize my old IRA.

Mike Reynolds
Pro Member
Posted
  • construction
  • Nacogdoches, TX
  • Posts 2,089
  • Votes 1,159

@Ken Badziak Thanks for that info. I have worked in Fl. as a government and private contractor so I know the prices there. Or at least West Palm Beach and Miami that is. But here I can build a 1200 sq foot house for 50k. Now that doesn't include profit and OH but if it is for an IRA it might be feasible. I am a contractor though with my own crew so there is that also.

I guess I have reservations and much novice skills about SDIRA's but I know I can builds for less than most here anyway. Just looking to find out whats best for me.

Post: Ikea Cabinets in a flip

Mike Reynolds
Pro Member
Posted
  • construction
  • Nacogdoches, TX
  • Posts 2,089
  • Votes 1,159

I have a discounted building supply store In my area. The thing I look for is real wood on the cabinet faces. I have even taken  a remodel for  solid hardwood faces and built solid wood cabinets behind them. I am a master carpenter but its not an expert thing to do. Most intermediate tradesman can build the cases. IF you have the time that is.

Anyway, if they have solid wood fronts they will likely last 20 years or more. If they don't have them then it wont be a good thing. We don't have an IKEA within two hours of here so I cant comment on those specially.  

Post: How to utilize my old IRA.

Mike Reynolds
Pro Member
Posted
  • construction
  • Nacogdoches, TX
  • Posts 2,089
  • Votes 1,159

@Ken Badziak But if you have more to invest would it be better to buy real estate with an SDIRA? I know that sounds like a simple question but I am laid off in November (boss selling company) with my 401k and have an IRA as well as a roth Ira. Is there a way to combine both in separate IRA's but same properties? I want to max out my ROTH and use the SDIRA to "cover" the rest so my ROTH builds a little faster.

Post: How to utilize my old IRA.

Mike Reynolds
Pro Member
Posted
  • construction
  • Nacogdoches, TX
  • Posts 2,089
  • Votes 1,159

Not an expert as I am researching this very same thing right now. The way I understand it if you borrow money with your IRA as a down payment you may be responsible for some income taxes. Will monitor this thread because I could be in the same boat or I may use mine to buy outright or use it to buy a few.

Post: Looking for Rentals to resale for profits

Mike Reynolds
Pro Member
Posted
  • construction
  • Nacogdoches, TX
  • Posts 2,089
  • Votes 1,159
Originally posted by @Tyron McDaniel:
Originally posted by @Mary Evans:

I am a real estate investor and I have been since the early 90s.  I am interested in buy and carry. I usually owner finance to couples who are looking for properties.  I have only flipped a few houses because I really do not enjoy the work that is involved in rehab.  I find wholesaling to be a risk. That is just my mind set.  

 Hey Mary 

I live in Houston and came across a few interesting deals not long ago in the Nacogdoches and Henderson I believe; you work those areas?

I live in Nacogdoches, what did you have in mind?