All Forum Posts by: Samuel Watts

Thats great to hear! Are you redirecting people to your website or using lead forms on FB?

Kentucky Life is also managing my properties there as well. Just bought 8 units there and plan to buy quite a few more!

I may be interested in buying that also. Please send me some details

Derek Blankenship is the man in that area. 

Find them and contact them. Join local investor groups

@Thomas Hundtoft Where do you find most of your deals? I currently buy mainly from wholesalers but didn't know if there were many marketing to the western slope

Hello! 

I am currently flipping in Central Kentucky but am hoping to move back to the western part of the country sometime soon. I used to live in SW Colorado and would love to move back to the area and continue my flipping business there. Looking at Grand Junction and I am also considering the Ogden/SLC areas. Would love to get some insight from other investors in the areas as to wether or not flipping is viable in these areas. Currently, I flip about 20 houses per year here and deals are pretty tough to find but I have pretty good relationships with the local wholesalers. 

Do any of you wholesale in these areas? If so I would love to connect with you! Would also like to talk with other investors in these areas! 

Hello, I have been flipping full time for a couple years now and now have a successful business doing it. Recently I hired an employee who is acting as project manager and also does a lot of the repair work himself when needed. He has mentioned that he would be interested in helping fund some of my flips in exchange for a split in the profits. 

I currently fund the majority of my flips with my own cash and can use a hard money lender if needed and I really don't see any advantage of taking him on as a partner, but I may be viewing it wrong. I can borrow money from a HML for around 12%. If I partner with him I will likely be splitting everything 50/50 and I would lose a lot of money by partnering with him. I also don't want to lose him as my project manager because it has been very difficult to find someone I can trust and he is very trustworthy.

Is there a way you have been able to make partnerships work for a flip when you don't need help with funding? 

@Doug Lovett I have been flipping full time for over a couple years now and have been very successful and have a pretty darn good net worth for my age. I would think that would be good enough for a commercial/fix and flip line of credit but we will soon see. 

I have some hard money lenders I can work with and have talked with Lendinghome but they don't seem to have an advantage over my local lenders. I'm hoping to avoid hard money fees and can get much better deals from my local banks. 

My local bank has offered me a product that will let me pull out 80-85% equity in the properties I have at a great rate and 1 point, but I would be doing a Heloc or cash-out on each property individually and would have to repeat it every time I buy a house (10-20 times per year). It would be much easier if I just had a large line of credit to work with like David mentioned so that i'm not having to apply for a new loan every time I buy a property. 

@David N. Thanks for the response! That is what I am looking for. When I talk to my bank do I refer to this product as a fix and flip line of credit?