All Forum Posts by: Account Closed

Hello Everyone,

I am entered into a contract by providing rehab costs with a house flipper in Illinois (this is my first time investing in real estate).

I am trying to figure out if they are or aren't telling me the truth.

They told me that they started the eviction process by sending a 30 day notice. 

My question is what exact documents should I have them email me to make sure they are telling me the truth?

Thank you, any advice will greatly help (very stressful).

Hello everyone,

I am trying to learn about house flipping, concentrating in the Chicagoland area.

I have always heard of many contractor horror stories, I don't want to fall into this trap.

How do I find an excellent contractor to flip homes, that is safe and does a great job?

Thank you.

I have many questions about flipping homes in and around the Chicagoland area.

Is there anyone that has done more than 10 flips? 

Thank you in advance.

My friend has owned a home for 3 years already, and now wants to sell. I want to help them by paying 100% of all the rehabbing costs, and let them be in charge of everything from start to finish. All I want in the end is the 50/50 profit split when the house is sold.  Basically, all I would do would be to give them money, and get a return in the end. I have never even been to their property, and have a regular 9-5 job.

My question is how do I exactly report this profit to the IRS? Is it Schedule D?

If an eviction process has been underway for about 3 weeks so far, can you now offer a cash for keys deal? Or is it too late?

Thank you everyone.