All Forum Posts by: Patrick Philip

I haven't rehabbed a house yet, but when doing my math, I have found that tile floors, new cabinets, new windows, and new appliances are the most expensive.

This is assuming that the air-conditioner and roof doesn't need repair.

@Geoffrey Schnake I plan to build new Single Family Homes for sale. I don't have a GC license, therefore I must hire one. I have to hire contractors for everything that a contractor is required to do. Everything else, I hope to save money by hiring handymen or even doing it myself at first. Right now, I am hung up by the expensive cost of architectural drawings. I can't even begin to price the project until I have these.

@Rob Harris why is California such a difficult area? What risk exposure do you speak of that requires insurance?

Is it possible to profitably build and sell houses without a contractors license? Has anyone here done this?

@Mike Hanneman I really don't trust real estate agents. Most of them have little to no experience in real estate other than selling houses for other people. I would never trust any of my business to a real estate agent. I have literally been at a strip club and one of the girls told me that she was also a realtor. They wouldn't know what 16/2 wire was if it hit them in the head.

Do I need to search for back taxes? Leins? What type of leins?

I could take out 30/5 or even 30/1 loans. How do I search the courthouse records for private lenders?

What about mass mailing all the complex owners in the area? Get the list from the property appraiser.

I'm about to do my first fix and flip. I have enough money for one. If the first one goes well, I can do another. I might be able to do 4 per year this way. What if I want to do more than that?

If I found private investors with "unlimited" amounts of money, how could/should I structure the loan deals with them?

Currently, I take out hard money loans for 2 years at 12.9% plus all the associated fees.

are they listed on sites like Realtor.com, Zillow, Trulia, Loopnet, or TotalCommercial?

Or do you find them by other means?