All Forum Posts by: Shannon Toye

@Anish Patel very good info sir and appreciated. I will definitely get that book and read away. Thanks a ton! 

I don't know if this is the right spot to post this question but here goes. My wife and I are looking to possibly purchase some storage facilities in Arkansas. Problem is we have no idea about them. Is there anyone here who can tell us about the good/bad of the facilities? What are the pitfalls and amount of time average on site? Is it possible to run them while living in another city? I realize this may not be the right forum, however it is a property discussion. Any input is greatly appreciated.

We are needing to set up a corporation for house flipping and possible apartment houses and maybe commercial properties. How does one go about this, what is the best way to set it up and what are the normal fees to do so? Please feel free to point me in the right direction of someone to talk to about this topic.

@Adrien C. 

Thanks for the input Adrien. I'll tell ya, the way I see it. It is easy to get pulled into something that one would regret terribly. I have been burned before and I just don't want to be again. I have a great deal of concern when someone I know nothing about wants money from me. Yes, we have lots to learn. One thing we are learning is that our area may not be a good place to start doing flips. Just a small community with houses that when foreclosed need lots of updating, hard to find houses that only need a little. So, its really hard to know exactly what to do or who to believe. 

Its part of funding for flipping, they are called Real Estate Investors for life.

@JD Martin what you say makes sense.

@JD Martin, yes that is my fear as well. Our issue is funding and that's what is attractive. But very good point. 

Hello All, I need some real quick advice. My wife and I have been approached by a company about them tutoring us and teaching us how to do flips. The deal is they want 6k as a fee to teach us. However, we use their money and then do a 50/50 split on the results. Has anyone ever used someone like this in the past and please what would be your advice? I hate spending money this way but if it's a good deal I am open. Please I would appreciate lots of feed back. We are new to flipping. Thank You in advance.  

Hello,

We have located a house for rehabbing to start with and can get the house for 35k in a very decent neighborhood. The issue we have is the house is right next to a busy street. It is a 4/2 with almost 1900 sq ft. estimated rehab cost is about 60k. Estimated arv is 129k. Questions; 1.) would you be afraid of the house if it is close to a busy highway but in a good neighborhood? 2.) If we purchase the house with our own funds what kind of loan would we need to get for the rehab and can someone point me in the right direction about how that type of financing works? Should I use a bank or what type of source for this kind of financing? Input is greatly appreciated.

Went to look at a property today. it's a 4/2 1900 sq ft. Needs lots of work but they are asking 78k. Is 30k to little to offer?