All Forum Posts by: Robin Watson

@Danny Bessinger

I have one, but haven't really needed it. I haven't bought any properties that I found on the MLS, and the one flip I've done so far was bought by some people who drive up to see it as it was being rehabbed. The rest of mine are rentals.

@Marylin OShea

Wow, great update. I’m so glad you were able to make it work! I have a rental that seems to have worked out similarly. I’m renting it out as a sober living house to recovering addicts. It’s not without its drama at times, but to see the stark difference in people when they catch even the smallest break it awesome.

Keep up the great work!

@Jian Lin. The Millionaire Next Door

Also you might read "Start Something that Matters" by Blake Mycoski. He's the founder of Tom's shoes. There's a niche business model called social entrepreneurism that's been quite successful. It's exactly what you are talking about.

Marylin OShea I do exactly this. But, I run the charity as a part time non profit on the side. I flip houses geared toward low income first time home buyers and add a developers fee. The agency purchases the property, rehabs it, and sells it. The profit goes back into the non profit to support our other program - owner occupied home repairs for low income seniors and those with disabilities. I take a very small salary when the cash flow is there. My goal is to build up the agency with sufficient funding to hire a full time Execute Director. At that point I will sit on the board and continue to help with fundraising. Also, the banks we used for financing gave us a zero interest loan. Since we are a non profit affordable housing agency, the banks are eligible for a 10% CITC (community investment tax credit) AND it counts toward their CRA points. Win/win. And the neighborhoods improve. Hope this helps. Robin

They can certainly pre qualify you, and tell you the amount of loan you can afford. It's not the same as a loan commitment, but it will give you a starting point. Shop around for a mortgage, one size does not fit all.

David Faulkner I actually meant jewel tones, I guess I picked emerald in my head. The navy in the photo above is a great example. I have a couple examples, but I have no idea how to post pics on here.

I looked into using my mileage-earning credit card to pay my mortgage payment every month. I don't know if it's universal with all creditors, but neither my Chase or Citibank cards allow it.

Gray is pretty last year. It was popular for a few years but it's starting wane. I'm not a designer, but play one on the internet. 😎. Emerald colors are going to be big. If you want to market to millennials, that's the direction to take.

Is it peeling? Just about all properties that were built before the mid 70s are going to have lead paint. It's primarily found on windows and sills. Do you have children? Honestly, unless there are lead paint chips falling everywhere, it's easier to paint over it. The danger in lead is when young children put paint chips in their mouths and/or get the lead dust in their skin. My kids are 14 and 18 now, and we've lived in four different houses that were built before 1950. We painted over all the windows and sills.