All Forum Posts by: Travis Hill

@Nathan Harden like you I am an OOS investor. I had a very similar situation happen to me on a 5 unit. The contractor came with the wholesale deal. After spending $50k and having to fly out to see the property and the lack of work over the previous 3 months, I fired him, his project manager, and the wholesale company. I later learned the contractor was served for over $1.5 million in bad practice. The contractor I did find and use to finish the job did a fantastic job and I ended up flipping the property instead of buy and hold. Bought for $30k/door sold for $70k/door. Super lucky. Don't give up. Communication is key. Use technology to validate and inspect what you expect. Create a GC contract. Reward for completing before deadline and a penalty when it goes past deadline. If the contractor is worth a crap ,they understand. 

Another opportunity to come and share knowledge, network, and possible deals!

@Joseph M Limpert congrats on taking these steps and getting after it. Know that you are way ahead of so many people. If what you are doing is not working feel free to shift tactics. Yes, talk to wholesalers in the area. They are finding off market direct to seller properties. Run the numbers they give you. Negative cash flow is not an asset, it is a debt. Yes, attend meetups. Yes, network, network, network. Yes, find expired listings and work with the agent to see if the numbers you ran could be an asking price. Yes, to finding people's pain points to help them elivate the pain point. 

@Bar Shalom Laniado sorry to hear about your experience. I am an out of state investor and I go to great lengths to vet any and all communications with a potential team member. With the technology today you have the ability to have pics, videos, etc all set up in a google drive or a dropbox type app that allows for any and all communication to be verified. Like @Marcus Auerbach and others have stated you gave money to a shady operation. For example, @Marcus Auerbach is very active here on Bigger Pockets, that initially establishes some trust of credibility. I know I could reach out him. Others that have commented also have active accounts here. Vet, vet, vet. Best of luck moving forward.

@Marcus Auerbach every answer you give, is so on point. I really look forward to reading, learning each time you comment. Thank you. 

@Ben Moore awesome to see you getting advice, research, and courses of action before pulling the trigger. Any transaction involves taxes, risk, and income. You mentioned you are risk adverse. Since that is a subjective term what that means for you is different for me. You almost defined your buy box. What does your market tell you about what $400k will buy. STR could be had via arbitrage (sharing income but less managing, strong relationship, communication, and trust). From my understanding all the money goes into the new property, any money left out will get taxed. So your capital/unit is all of it. I am excited to see what you choose.

Happy to connect with you. I am stationed at Camp Pendleton. I live in San Clemente and invest in Milwaukee and Cleveland. 

New or experienced RE investors, agents, and loan officers. Come and network with other like minded people. Share experiences and opportunities. 

 likewise! please pass the word and bring a friend.

Come and network with new and experienced investors as we network and grow!