All Forum Posts by: Howard Manning

Hi, I've enjoyed the membership I signed up for, but I'm retiring and wish to cancel the paid membership.  I noticed on my credit card statement that I'm billed about $10 a month.  What do I need to do to cancell it.

thanks

Howard

I'm an experienced rehabber, flipper, and lanklord in Eastern NC.  PM me with more details and locations please.  

NC Pro Builders

E-Mail: [email protected]

telephone: 252-292-9676

Hey Alan.  I need you here in NC.  We would make a great team.  I love shopping for deals and discounts on materials, finding the best, least cost way to bueutify and house and yard.  I work with my son and a tenant to fix up to hold cost down.  Works well so far.

JP, you have Ga., SC, Va, what about NC.  I have a property that I really want to fix and flip near Wilson, NC

You can rent a blow in attic machine from L-- or HD and insulate attic easily yourself for cheap.  Insulating crawl space can be done fairly cheap if you are willing to do it yourself.  Walls can be insulated by drilling 3" holes between studs and filling with pump in insulation.  This requires a little more skill but  can be done fairly quickly and reasonable cost.  It will require plugging the holes and painting over them.  PM me for phone number if you'd like more details.

I would remove the wall paper and wall paneling and leave cabinets as is.  I would clean the cabinets, install new knobs and treat them with liquid gold to bring out a newer shine look to them.

Hi Gina, this is little old me.  I don't know as much as these more experienced gurus.  But I have been around 3/4 of a century and a few things I've heard and learned from investors of various types for a long time.  One is don't put all eggs in one basket, use the diversified portfolio to be safer.  Also, use of leveraging, the use of other peoples money will get you more wealth faster than tying up your money in a few properties.  Using a mentor as other have suggested is a great idea.  And the advice of studying and learning is a must do.  

If I had $150,000 here's what I would do.

1. Put 10% in precious metals.

2. Buy 2 fix and flip properties, putting in 20% down and using bank or private money for the balance and fix up cost.  

3. Buy a multi family building to hold for  rental income and refi as soon as possible.

The fix and flip properties should turn over every 3 to 6 months with a good contractor or partner.  Based on my experience a fixer upper priced at $30K to $40K with $10,000 to $15,000 should net $20,000 to $30,000 profit.  Averaging $25,000  per house at 2 at a time held for 6 months would yield about $100,000. a year.

After building up hold and rent properties sufficient to max out the $25,000 tax writeoffs, I would look into becoming a private money lender.  My terms would be something like 3 points at time investment property is sold, at 12% annual rate, payments beginning in 60 days after property is bought and term being 12 months and renewalble for 12 months at %15 percent. 

The final step, I would  move up to a higher level in fix and flip to the $150,000 to $250,000 range for fix and flip to net $50,000 or more per property.  

Happy investing

Check to see if the expansion tank is full of water.  It may need air to allow for expansion like a well pump system.  

On the mark.  Unless your already rich you need the flips to be able to obtain properties to hold.  Last I checked you need 20 to 25% down for either hard money or private money.

Are you looking for real estate loans or are you interested in making private loans to others for buying properties.