All Forum Posts by: Scott Miller

I would purchase a flip property, mortgage the deal. Don't buy a disaster that needs 40k-50k in repairs find the right deal for your situation. One that's more just ugly, use the 20k for rehab and with the right deal your ROI could potentially be double. My view don't try to turn the 20k into a million over night. Rather turn your 20k into 40k, your 40k to 60k and so on.

Just my opinion, but there are 100 ways to go about it

Have a good day

Dustin,

There are always 1000 ways to start, so yours is never wrong. The only flaw I see which you may or may not already be planning on is what Matt mentioned above, see a lawyer. Even if he's your best friend and you trust him, get it in writing. With him using his loan getting the property in his name and you contributing more in rehab its always best to have something in writing.

Will the VA allow you to purchase a multi family residence?

I will be using VA loan here soon for my first flip, but also like previously said I won't be getting a major flip, more the ugly out dated house in a nice area. VA won't do a house is disreapair.

Also with your real estate license use it to sell houses. You will always be looking for deals even when you can't buy it so when you find them you can turn to other investors you have networked with and have them buy the home through you, flip it, then sell it through you. Double commission on same property just another way to generate income while starting up.

Just my 2 cents, have a good day

charlene,

Although i dont have any professional ground to stand on or back me, i believe it is all in opinion.

I personally would get rid of them and put in new windows, buyers like to hear there are new windows, something they dont have to worry about for a good amount of time after buying. Also with the trends of today, energy effecient is key to people.

Have you considered new crank style windows? keep the old feel while still having better more effecient windows.

@Michael W,

I appreciate the message sir, as there may be plenty who know more than yourself there are plenty more who know more then me, yourself included.

I will certainly keep you in mind and I again appreciate it very much. Any bit of advice I can get throughout this helps a ton.

Thank you and I hope to stay in touch

Eric,

someone to help mentor me through this would mean absolutely the world to me. I will certainly take you up on that offer and get in contact with you once I get there.

Thank you

It is beautiful, i was lucky enough for my next assignment to be out there and I can not wait. Certainly somewhere I will enjoy starting with real estate.

Hello my name is Scott, I have been using my time here in Afghanistan to read and learn everything I can about real estate investing of all forms. Moving to CO soon where I plan on purchasing my first flip property. I hope to eventually have some sucess in this business, and the opportunity to flip many properties.

I am still very young, which i see as still plenty of time to make mistakes and recover from them. Anyone who would be willing to help me with advice, tips, or help in any form. Even just a first hand experience i would very much appreciate.

The birth of my son, who I will finally get to meet next month, has inspired me to really pursue a dream with a lot of determination so I can give him the world.

Thank you