All Forum Posts by: Account Closed

@sophie maisel, speaking as a regular consumer i don't think it would be a bad thing to get rid of the aluminum wiring.  I have bought a house with it before and it's a pain.  We did actually overheat the wires with a portable ac unit.  Luckily we figured it out and didn't burn down the house. I would never buy a personal house with aluminium wiring  again. 

That being said,  we bought the house knowing it had aluminum wiring and then sold it with no  issues with it still having about half aluminium. Prior to us there were renters in the house and they also did not burn the house down.

So,  while most people won't know the difference,  a few out there might rule out purchasing  your house based on the wiring.   

The finished product looks great! Congrats on your first flip!!

Stick with school.  It is always a good idea to keep as many doors open as you can.  You never know when the things you thought you wouldn't need will come in handy, or even be essential to your future. High school is one of those really,  really essential things.  Just continue to excel in the area of life you're in currently (high school) and you WILL get to where you want to be.  

i don't mean to be rude here but how are you even considering this?? It sounds like a harvey Weinstein ish situation.  

@Kenneth Garrett

Thanks so much for your advice! 

My realtor brought us a really great property that we could use the BRRR strategy on-- however we just wrapped a rental purchase/remodel that took all of our extra money. I hate to turn down a good deal though so my mom offered to partner with us on this deal. She wants 6% interest on her investment... then plus... something.. she isn't sure what to ask for and I'm not sure what to offer.

And this is where I am stuck---- can anyone walk me through how you have structured your partnerships? 

What is a good way to structure someone bringing in the capital while the other person does everything else?

I'm also looking forthe most basic of how things work when you bring someone else in.. how does title get written up? Should I form an LLC just for this property? Does everything go in her name since she is bringing the funds?

ANY advice you want to share will be very much appreciated, I'm out of my depth on this aspect of investing.

So your friend has 3 properties under contract..... but are they good deals?

I can go buy 3 properties off the MLS that will maybe turn a tiny profit, or could head over to Detroit and pick up 3 properties for maybe 10k each.... neither of these strategies makes me a smart investor.

If they are good deals is it possible the program is just giving him the confidence and drive to get out there and get these deals.... and maybe you could copy his strategy, drive and determination without paying for the program?

pretty much what everyone else said I'll just add

The windows aren't just odd (why do they all have black bottoms?) But they are sooo dirty. 

The cabinets are flat panel doors,  this makes them look like something in a cheap apartment. 

There is no dishwasher. 

The Bush in the front yard literally blocks the front door. 

The front door looks like a cheap apartment door. 

No one wants to own an "Investor's dream."  An investors dream is a dump that can be flipped.  

The school's are TERRIBLE. 

Says appraised above list price but Zillow shows zestimate of 2k below your price. Say what you will about zestimate but people use them to make a quick judgement.

Not me but my dad has a vrbo that has a pool and the family renting for the week complained that their kids got cold swimming in the pool in early June... in Michigan. It's not usually that warm here in early June and the pool wasn't heated (and wasn't advertised as heated). The crazy thing was that in retaliation for his cold pool, they peed in his coffee maker and stole some stuff when they left.  

@Michael Noto thanks for the input, I really appreciate hearing from someone who is talking to buyers on the day to day.  The backyard on this one is small and we're in a  very residential area so we won't be able to do a firepit but I love the idea! My last house had one and it was a great feature!