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All Forum Posts by: Kirk R.

Kirk R. has started 69 posts and replied 927 times.

Post: When to do the french drain?

Kirk R.Posted
  • Peoria, IL
  • Posts 967
  • Votes 383
Originally posted by @Eli M.:

Dear BP family,

I was wondering, when is it necessary to do the french drain? Why do flippers tend to do the french drain?

Thank you in  advance,

Eli M

 I'm not an expert.  I'm researching doing a French Drain.

For Moving water, I think the French Drain is the cheapest way to do it. 

When to do a French drain? standing water & if water is getting in basement.

For me I have a neighbor who doesn't have gutters on his garage.  the water flows right toward my property which is on a slab.  But i don't want constant water flow.  gonna french drain & try to flow to the street.

Post: What to do with $65k in Phoenix, AZ?

Kirk R.Posted
  • Peoria, IL
  • Posts 967
  • Votes 383

Mail to Illinois? do u need my address? ha :)

unless some really crazily insane deal presents itself, i would keep cash until Christmas.  no stocks no real estate.

Why are you moving? Where are you moving from? 

How long are you planning to stay?

How are you going to be able to afford the rent? 

& then just listen & let them talk.  If something seems a little off.  it probably is. 

Originally posted by @Fred Cannon:

There is a big difference between an asset and a debt.  A mortgage on a house is a debt.  A mortgage on 10 houses is not a bunch of assets, it's a pile of debt 

 What's this? 

/////////////

a bunch of these:

/

lol :) 

Post: First flip attempt succeeds!

Kirk R.Posted
  • Peoria, IL
  • Posts 967
  • Votes 383

Congrats! 

Post: How long does it take to complete first deal

Kirk R.Posted
  • Peoria, IL
  • Posts 967
  • Votes 383

depends how much money you have access to. 

call a banker apply for a mortgage 

Post: I haven't slept in weeks...wholesaling?

Kirk R.Posted
  • Peoria, IL
  • Posts 967
  • Votes 383

Sleep more important than money! 

Post: [Calc Review] Help me analyze this deal

Kirk R.Posted
  • Peoria, IL
  • Posts 967
  • Votes 383
Originally posted by @Juan Rosado:

View report

*This link comes directly from our calculators, based on information input by the member who posted.

This is something I don't understand. The table on the bottom says that If I were to sell this property in 4 years I would only be making $3k? I don't understand. If the property value in four years is $176,864 and the loan balance is $91,178 shouldn't I would be making $85,686 ($176,864 - 91,178 = 85k) if sold?

 looks like a horrible deal. 

youre purchasing for $112k.  then you are putting $40k in fix ups.  so $152k.

Th After repair values (ARV) is $130k. You're behind $22k to start.

for example:

if you are independently wealthy with all your properties paid off. 

Why put yourself at risk of having to go back to work by highly leveraging your properties? 

Seems like be happy with what you've won.  Don't put your winnings back at risk. 

Post: Dispute with neighbor over lot size

Kirk R.Posted
  • Peoria, IL
  • Posts 967
  • Votes 383
Originally posted by @Aaron K.:

@Cristina Rodriguez is this a primary residence, a rental or something else?  If it is a rental you might just leave it alone unless the land on the other side of the fence is significant.  If it is a primary you might take the neighbor to court, but you'll likely be the one paying to move a fence as it would be fully on your property and in many subdivisions it isn't worth it if your yard becomes 1 foot wider.

 i kind of joke a lot line comes down to who has to mow more grass