All Forum Posts by: Jenny F.

From the retail side, I have never "wholesaled" only bird dogged...

The most I have ever made on a flip is 90k (after it was all said and done) and the least is I broke even. (that was a BIG learning experience & only happened ONCE).

Learn your market areas. study them well. I have bought as low as 22% ARV. It takes me LONGER to find those deals but it is worth it at the end. My recipe for successful retail flips:
1- research area
2- price BEFORE purchase...comps (DOM,PRICE)-10,000 (for me) = $sell quicker
3- EXAMPLE Scenario: 100,000 ARV
Purchase: 25k
Rehab: 15k (basic)
Total: $40k
Sell quick $90k (depending on comps/ consider DOM & actual sale prices BEFORE you buy)
Profit $50k - realtor fees, transfer taxes, etc...around $42k after everyone else gets their cut.
WITH the bank, subtract another 5k + further reducing profits.

My personal preference is using your own cash. You save a lot of fees and interest to the UNDESERVING banks. Most important when using your cash is don't pinch yourself too close. Factor in job loss (if you work full time), at least 6 mos of expenses and unforeseen issues with the property you would like to flip. I like to keep 20k for unforeseens back JUST IN CASE.

I think 20k profit is too small of a margin considering all of the expenses unless you can have it done and sold within a month or two.

Good luck!

national...fox news morning show...

here is a news link...

http://www.breakthematrix.com/The-Public-Trust/NH-to-Secede-over-Federal-Governments-Treasonous-Acts

(i hope that is okay)

I don't know a lot about this because i only caught the tail end of it getting my son ready. I am having trouble locating a story about it...anyone know anything further about this?

I just barely caught the end of this story this morning! NH is talking about seceding from the US over gun rights and abusive federal govt?

anyone else hear about this and what do you think?

Im thinking hello NH!

Mike let me tell you that with BoFA there is more here than meets the eye. They cut my 50k line of credit RIGHT AFTER i PAID it OFF!! That was back in the fall. I havent had any problems with AMEX but I don't have a huge line with them either. I was told that my line of business was "high risk" .

BoFA ALSO recently put a small business out of business here when they called their loan on a furniture store that wasnt due until next year and the year after. The owner says that they are just pulling out of Michigan all together, they say he defaulted....This was all in my local paper. Your in OH, I am in MI. I think they are grouping certain areas as too high risk and shutting down the valves.

My credit score was 801...now that my CL is shut off im sure i have lost some points.

I think it is more of an ego blow than anything else but i will tell you that NOT having that IS preventing me from finishing projects and GROWING which isnt good for the economy because I cannot pay more taxes and create more jobs. I completely understand where you are coming from.

First they blindly lent, now they are blindly cutting and un-lending (if that is even a word). Now I have to TRY to find private money to complete projects which is very expensive.

Life in the Obacracy = OWNED. by the banks and the government.

If you truly want "green" renovations its going to cost you a lot more than 2% more and be careful to do your research as to what is truly green.

You can be green with your toilet by putting a small bottled water in the tank. It tricks the tank into thinking its full while using less water at flush time.

i like vflyer dot com. i signed up with them when they were spanking new. You could also print them.

If you want pro looking print flyers, vistaprint dot com offers some nice layouts for those without the graphic arts gifts. They also have an option to upload your own creation including the templates for photoshop or AI.

I don't have any properties that I am renting either as far as monthlies but it seems to me (too) that the rental market should be doing better than ever with all of the foreclosures and folks needing a new place to live. Unless everyone is moving in with their mothers.

I don't know that apartment buildings hold much to be desired for a family. Who likes to hear the pitter patter of a family of 5 right above your head all the time?

Ok. I see. If they just rehung the door tell them to fix the back door lock at no charge (since you have already paid for the service you expect it installed properly).

Generally you do not have to shut off the valve to the washer. I have never heard of anyone doing that unless they have a leak.

Though it is easy for me to say this because my hubby is a contractor, I say if it's rusty, have it fixed. Call a plumber to do that for you.