All Forum Posts by: Redgy Saint-Germain

@Account Closed

No flipping is not dead. You may need to change your strategy and surround yourself with more positive people, network with more real estate agents so they can bring you off market deals. 

Also try yellow letters they work for me

Good luck 

@Tyson Hosey

Tell them to get a credit card, pay you rent from the credit card and pay it off every month WIN WIN. You don't have to deal with the paperwork, and they are building credit in the process. 

They may have to start with a secure credit cards for a couple months to establish themselves. 

@Kyle Doney

Thats a tricky situation, I would call your own insurance to ask first. What if the tree fell on her car as you were cutting it, she still would have held you responsible for that. In my opinion her insurance should cover it 

@Griffin McKisson

Its great that you're looking for advice about real estate at 20 years old. Wholesaling may be your best avenue. It requires no money and after a few deals you can your own house. 

@Zach Gard

Welcome to BP

@Isiah Ferguson

I would refi both properties with a conservative 70% LTV thats about 180k in cash and to me its a hell of a way to gain some momentum. Based on that you can house hack yourself to a 4-plex live for free, bank all your work income while utilizing your cashflow. In a few years you should be able to quit your job if you do this right and stick with the plan.

If you can get a HELOC to pay down your CC thats even better, I wouldn't pay off anything with a low interest because you can use that money to buy more real estate

Good luck 

@Chandler Roman

You should always have proof of funds or a pre-approval letter to avoid wasting peoples time. I wasnt aware the ARV for a 2BR in NB is 260k, seems really high for that area. @Larry Turowski you've done a flip down there what do you think ? The numbers looks incorrect to me 

@Mike Miller

I try to stay away from properties with a lot of offers, it may impact you getting a good deal as the seller have other options. Aim for off market deals or deals on the MLS with little to no competitions

Good Luck

@Kyle Jones

Look into the " FNMA Homestyle renovation" loan. To my knowledge they only require 15% down the ARV.

Good luck

@Scott Heinze

If you don't live far from the property I would say self manage it for now because the main goal is to generate cashflow. Once your past 5 units I would say start looking for a property management company.