All Forum Posts by: Philip Klinck

So I understand the idea behind buying flips 70%-repairs. 

But, I came across a deal that is maybe 75% of comps and needs nearly no repairs. So repairs will take a couple days at most and we can list right away. Is this still something you would go after? Or is the 30% necessary for possible issues etc. This is an all cash deal so no holding cost issues. Buy and hold it until we get our price. Buy for 85k, list for 109k. 2 close comps sold at 114k within last 4 months. 

Does a Trust provide protection within the IRA as well?

Example: If I buy a house Sub2 the debt and put it in a Trust with the beneficiary being the IRA does that provide protection from a slip and fall suit, etc?

Kind of what I was asking. I dont have time to do door-to-door but I would be willing to add other elements that have some possibility of working. I forgot to mention Social Media (boosting facebook posts.)

What do you use to drive leads? 

I use signs and postcards. I find that signs are random and difficult to predict but cheap. Postcards are expensive and low leads per but predictable and more targeted. 

Anyone want to give away their methods?

 All. I will buy anything in any area if its a good enough deal. 

I did an eddm for an area I wanted to move to actually. Sub2 or purchase was my focus. I probably could have gotten better results going after a list of expired listings or whatever. I just wanted something in this area specifically. Ill do a list next time.

 I am targeting sub2, cheap rentals, wholesale, 1031 exchanges, mortgages, anything I can get. Just getting less calls about selling and more about people trying to rent stuff, buy from me, other wholesalers, buyers, etc. 

40-50X rent for cheap rentals in badish areas.  Flips are 70% of arv -repairs.

The question almost is...should you by in a hot market?