All Forum Posts by: William Keith

Ok, I have been looking at several properties to fix and flip in my area. Starting out, would it be ideal to buy a small starter 3/1 that needs work. The owner let me do a walk through of the potential property with my carpenter/contractor. The outcome is it will take about 15k to get it in shape as long as no other surprises pop up. The ARV I came up with is about 50k. Which could potentially net me 20k if all goes well. Any opinions will be respected.

Thanks

@Sam W. Ok I understand now, that makes since.

I am a newbie and am still learning the ropes. But based off of what I am reading, it appears to me that the owner occupancy rule is tied to a loan. So what if you pay for property outright with no loans involved. Do you still fall under the occupancy rule, I mean it is yours 100% at that point isn't it.

Thanks for the welcome everyone, I look forward to possibly working with all of you in some capacity in the near future.

William

Oh ok, it must just display sideways on my screen for some reason.

Thanks

Not sure where to ask this question. My profile pic will not display vertically... Help!!

I am a newbie real estate investor in the Memphis, TN - western TN area. Looking to network and invest in the memphis shelby county area. In the process of retiring from the military summer 2014.