All Forum Posts by: Sarah G.

Hey BP members,

I currently buy and sell my own flips as I'm a licensed realtor in Washington. I work with a HML who charges 12% interest. I'm looking for other HML out there with better rates. Please let me know. Thanks.

Hey bp members,

I typically try to buy foreclosed homes or distressed properties for my flips. It seems the days are gone where you could get huge deals with foreclosure properties. I’m thinking of buying houses at auction. Does anyone have any experience they could share on how to start? 

Hey BP network,

I’ve been doing a few flips here and there which have gone pretty decently but not enough to really be considered a solid profit. I guess it's good that they aren't losses.
I want to start getting into buying houses at foreclosure auctions but it seems very risky. Does anyone who does this have some advice on this and how to get started, what to look for. Doing the online auctions also seem a little shaky with all the fees they end up piling on.

Appreciate any insight!

Hey everyone just recently closed on a flip two weeks ago

Buyers are now contacting me saying that the electrical needed to be redone for the washer and dryer and it shouldn’t haven’t passed inspection And are giving me a 700 dollar bill.

Am I liable for this or is the inspector now that’s it’s closed 

Thank you everyone for your responses! I really appreciate it. I ended going your route Eric and taking no commission so I could take advantage of deductions. Thank you all again!  

Hey everyone,

I recently became a real estate agent and am selling my own flip. My question is for taxes is it better to not take commission and take the profit as capital gain or take commission and it be a taxed like income. I can also take as much commission as I want as I’m the selling and it will show less profit. 

I was thinking of making my commission more. Currently with my spouse we are in the 32% income tax bracket range. Some specs of the house would be it’s selling for 358k

Any help would be greatly appreciated!

Thanks! 

Ive been reading into brandon's podcasts and  I really think the concept of buying a 2 bedroom place that you can make into a 3 bedroom is a great idea. I did some research on this and have gotten a lot of variable answers for cost/labor. There's a property I'm looking at that has a great attic space thats finished but no heat source. Any tips on this? I'm investing in the state of Washington. Do you also have it inspected by someone as there are more regulations. Any idea of cost? 

I appreciate all your input guys! Thanks, guess in some markets they can just put whatever fees they want. 

Hi BP community,

Has anyone invested in a property in washington and used it as an air b and b. If so, could you tell me about your experience with their rules and regulations. I know portland now it deterring people from doing air b and b and states you can only air b and b a property that you live at 7 months out of the year.