All Forum Posts by: David Short

Easy answer 1. Make sure the lender LIKES you. 2. Make sure the lender TRUSTS you 3. Convince the lender he will get his money back. 4. Make him feel warm and fuzzy about your plan. 5. Make sure you will treat his money better than you will treat your own and you should.

Check with your accountant.. Almost impossible for flipper to use a 1031 application.

Always use a direct lender on FHA loans less likely to get the second appraisal requirement. This normally happen when you have a sale price that has doubled the price you paid.. Meet the second appraiser give him your repair list with before and after pictures.. Bring him coffee..thank him for his time..copy of purchase agreement..Don't give him a reason to cut value!!

   What is address of your home you are trying to rent..

Don't need a 1031 exchange because you will not have a gain.. Would need to see the whole picture but my guess you should sell what you have and develop a new path for success. Our investor are averaging returns that are 13%+ returns.we did 40 flips in 2016.. Developed some great holds for people that had equity plus great areas and easy to rent with excellent cap rates .. Dave Short

Put the house back on market for a back up offer. Tell your current purchaser that you will extend current contract when they feel they can make the earnest money non- refundable in less you get an acceptable backup you feel will close on a timely basis. 60 days is too long something is fishy

Pm me just put cabinets in a single family.. Cost of cabinets $1100.00 . You're putting yourself in bad position on your rehab

Be sure you take an assignment of the first and not a payoff. You don't want the second to jump to first.

Parc properties are excellent operators. They are competor of mine in the flipping side of the business honest and fair. Dave short

I like the show. 60-70% accurate. They do put sales costs in there net. It is a 30 minute show so they have to condense the decisions. My wife is on me all the time on estimated repair costs so it hits home with me. We will do around 36 homes in Indianapolis this year so we love to hear there different ways to purchase and we get and use some of there design ideas. Well worth the time