All Forum Posts by: Noah T Simmons

Definitely interested. Will spread the word! 

Sounds good! My partner and I cover all areas of rehab work. Kitchen and baths are my favorite but I’m down with anything.

If you’d like to see our work feel free to reach out!

Thanks guys! I’ll get going then

Hey BP! My name is Noah Simmons and I am a contractor that works out of the greater Spokane area. I have done work for real estate investors I’ve met over BP and investor meetups and have definitely enjoyed the experience.

I am looking towards getting into my own flip within the next year and wanted to start educating myself on the area and the flipping process in general.

Just looking for the best way to research Spokane’s real estate market, where to buy, how much to invest, etc

Any tips or pointing in the right direction would be great!

Ok. Thanks Gus for the advice!

Hey BP! I own a small property up in Algoma WI, 1400sq ft sfr. I live in Washington and just want to be out from under it. 

However, I’m not sure the wisest way to go about this. Do I fix it up myself and try to flip it, rent it? Do I find a wholesaler and take a hit on the property?

If anyone has advice or reference numbers I would love to chat.

Hey BP! My name is Noah Simmons and I am new to the REI world. Currently I am subbing out my work as a contractor for real estate investors and with every job over about 500 bucks I've been paid through a 1099 rather than a W2 employee or just cash deal.

I’ve been setting aside money from each one for the end of the year (30% for each job). However, this is my first time working as a subcontractor, and I want to make sure I’m doing this right. 

So is 30 percent of each job enough/too much? I keep records of my work and the pay. Is there anything else I need to be aware of? Also I have a full time job as well, so my taxes are going to be more complicated than in the past. I’ve done my taxes myself up till now, but bringing 1099’s into the mix with my w2 job is going to mix things up. Is it still doable to take care of my own taxes or should I see a cpa?

Investment Info:

Single-family residence buy & hold investment in Spokane.

Purchase price: $175,000
Cash invested: $30,000

I bought and fixed up a five-thousand square foot ranch house in northern Spokane. The house was listed for one-hundred seventy-five thousand in cash without inspection. The home owner had tried to sell for more earlier in the year but upon inspection investors backed out of the deal. The house got a complete face lift. The property is now valued in the ballpark of three-hundred thousand dollars. However, I do not plan to rent or sell the place

What made you interested in investing in this type of deal?

I was looking for a decent place in Spokane for my family to move to from Wisconsin.

How did you finance this deal?

I made a 20% down payment with money I had saved working in Wisconsin.

How did you add value to the deal?

By remodeling the entire house over the course of a year I increased my equity by over one-hundred thousand dollars.

Lessons learned? Challenges?

I learned that when it comes to remodels, snags in the plan and setbacks are natural and that over optimistic projections don't help anyone.