All Forum Posts by: Tim Davids

I would strongly suggest not using credit cards to finance anything more than some repairs.

I personally know a guy that used to use credit cards to rehab houses. Then 2008 came along. He still owes on those cards!

looking for non-Mls properties to fix and flip in NW Indiana (no Gary).

I live in NW Indiana.

Multi family, single family

Up to 20k

I vote duplex.

The cash flow reduces the money out of your pocket for each subsequent property eventually you would never touch your regular earnings. All future down payments come from the Real estate income.

Originally posted by @Nikki Robinson:

Whew! I finally finished the whole thread. I can't thank you enough for the time you put into keeping us updated every week. This stuff is priceless.

I'm a soon-to-be wholesaler who'll be going the direct mail route for acquisition. One day, I hope to be knowledgeable enough to jump into HUD deals. You gave me so much to look forward to! Can't wait for tomorrow's update. :)

 Nikki. I gave your post a vote just for reading this whole thread. :)

I'm going to start looking for private/hard money lenders for my deals.

I network at my local real but it occurred to me I'd I tell a local my ideas they could go around me.

So the question is would it be better to work with out of the area lenders vs some one that could go take my deal in person?

Thanks for any advice

I own a web site about Atlantic City. Just saw news $50 million in tax liens up. http://www.pressofatlanticcity.com/news/press/atlantic_city/atlantic-city-plans-to-sell-million-in-tax-liens/article_5b342ec4-68f2-11e4-bf86-27ddc67a3f52.html?mode=jqm

just finished Rich Dad Poor Dad audio book on YouTube. Thanks for the YouTube heads up.

Got my copy of "Millionaire Real Estate Investor by Gary Keller" yesterday :)

@john van uytven thanks for that YouTube heads up.

Thanks everyone that responded.

I'm ready to read/listen to rich dad poor dad.

I went to amazon and see many choices. Which one do I get or do I get them all?

Thanks

Soooo I never thought I would one of those people writing about a bad builder.

I should start my book about building homes now lol.

The picture above is just one item of many we have found wrong with the house. It's a picture of a piece of an old chair cut to fit behind the bathtub spout. It's literally holding the plumbing. 

Most other problems we have made them fix, not without arguments of course. 

We did learn this week though the power of holding the draw money. They were begging for us to release the $.

We have taken the siding away from them and are doing it ourselves with a carpenter friend.

We also will take away the brick work and stone on the front of the house. 

I guess I'm in the "club" now :)

Picture below is me and my best friend half way through the siding. Helps to have a best friend that's a carpenter :) especially a top quality guy.