All Forum Posts by: Timothy Brillant

Ru.... I'm in Brunswick and just starting to get back into it... I bought for awhile and when my contractor and I decided to go different ways I stopped. I'm getting back into it now, I just bought a property in Topsham and have just started gutting it out. Keenanauction.com is a good Maine auction company all the Keenan's are friendly and helpful even more so when they get to know you!! What are your goals and plans?

Tim

6 to 7 is average in Maine.... Yeah thats what Ana is talking about I'm sure... 7% split between buyer and seller agent.

I have a great employee, who is a hard worker and very attentive to details and or codes, which makes having him on staff frustrating but good. I feel as he has lost his drive/desire to work on real estate, he is taken longer on his projects than before... To try and help speed up production and give him a drive again, I was thinking I should give him a bonus each time we sell a project he has worked on. What would a fair amount be? 1% of the profit or 1% of the sale price or a flat $500.00... Looking to get some opinions on this subject!!

I used TD Bank, They're not a hard money lender... I had to put 30% of the purchase price down. I have a very STRONG relationship with the bank, the amount on deposit is so large they bend over backwards, I get rate exceptions and I get penalties waived. I would highly recommend them, they’re moving through out the East Coast. Once you get in good with a Commercial Loan Officer you're golden. Just goes back to the parts of building a good team ... Relationship with the banker is better than my love life relationship HA HA

Yes my buy price does include buying closing costs, I finance through TD Banknorth.

Thanks... Might just be luck on my first deal ha ha

218,000 Sell Price
148,355 buy price
15,300 Rehab Cost (includes Holding costs)
5,800 Buyers closing costs
11,073 Commission
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About 36K profit :)
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I pay my realtor well, due to the fact she chooses colors of walls, materials, stagging and other things that come along the way. Thats why my commission is high, but there is nothing like a girls touch.... HA HA ....

Just completed my first flip, made 36k in 120 days.

I have figured taxes and insurance in for 6 months. I put 30% down. This keeps my holding cost lower. I'm thinking I will net about 20k, as I said I over estimated my repair cost by at least 2k. This might not be a stellar deal but as long as it's good I think for a start I should be okay. I appreciate all the help and look forward to more input. This site is priceless to newbies.

I'm currently under contract with a short sale property. The house ARV is projected at 155k. It's below the comps currently on the market. So with that said here is my calculations

Sell price = 135,000 (quick and allow for 20k less than comp)
Selling fee = 9,500
Holding =. 3,000
Repair =. 15,000 ( this is over estimated by 2k)
Purchase price 80,000

Does this Seem like a good deal? It's a sfh INS decent neighborhood

All input is great this will my 7th deal but only 2nd flip project. I'm only 21 so very new to this, I have 2 guys on staff that work just for me so they will be doing the rehab . Thanks I'm advance

I have a tablet computer with a touch screen, and currently use inspections that are paper, I was wondering if anyone also had a tablet PC with a program that allowed them to check and make notes using there pc as they walked through the house. Im just finding, hand writing it and than going home and typing the issues is causing errors, some things are being missed. Any help would be greatly appreciated.