All Forum Posts by: James Sinclair

ANATOMY OF A FLIP (PART 2)

Are you thinking about doing your first “fix and flip”? Have you done a number of flips and are willing to share some of your knowledge? Mike Walker and I (Jim Sinclair) are going to share our experiences doing our first “fix and flip”, our exit strategies, how we financed the projects, and what we are doing differently.

(Part 2)

Last month we shared a lot of thoughts about what we look for in a property that should make a successful flip. This month we will assume that the property has been found now we will focus on how to execute the “fix” part of the project. Lastly, every project must have an exit plan; this plan should be part of your decision going in but it will be last part of our discussion in this months meeting.

Come and share and learn about “fix and flips” during out next two meetings.

The June meeting of “Coffee Talk” will be June 8, 2016, at 10:00 am. in Lynn's conference room. Lynn's office is at 1107 S. 8th. St., Austin, TX, 78704. See you in the conference room.

Many thanks to Lynn for hosting our meeting.

ANATOMY OF A FLIP

Are you thinking about doing your first “fix and flip”? Have you done a number of flips and are willing to share some of your knowledge? Mike Walker and I (Jim Sinclair) are going to share our experiences doing our first “fix and flip”, our exit strategies, how we financed the projects, and what we are doing differently. Come and share and learn about “fix and flips” during out next two meetings.

The May meeting of “Coffee Talk” will be May 11, 2016, at 10:00 am. in Lynn's conference room. Lynn's office is at 1107 S. 8th. St., Austin, TX, 78704. See you in the conference room.

Many thanks to Lynn for hosting our meeting.

DEAL OR NO DEAL

Whether you make money, or just hope to get out of a deal without loosing too much money, depends a whole lot on how good your analysis is going in. Single family projects can range from a high end “scrape and build” to a low end “patch and rent”. What ever your niche you should be able to benefit from our April discussion of project analysis. Our own Lynn Curry will bring her computer and share her process of running the numbers.

The April meeting of “Coffee Talk” will be April 13, 2016, at 10:00 am. in Lynn's conference room. Lynn's office is at 1107 S. 8th. St., Austin, TX, 78704. See you in the conference room.

Many thanks to Lynn for hosting our meeting.

THE NEW HUD

The closing process is an adventure in dealing with a stack paper and the next document needing to be signed. The government has decided that the process needs changes and has introduced new forms as part of the change. The HUD-1 settlement statement and Good Faith Estimate forms are going away. The Truth in Lending Act disclosure is going away as well. In their place will be a new closing disclosure and a new loan estimate. There will be changes to the closing process as well, including a new rule requiring everything to be in place three days prior to closing. Learning about these changes will the subject of our February meeting of "Coffee Talk". Marisue Mullins, who is a broker, and Jennifer Pederson, a commercial title officer at Chicago Title, have agreed to be our speakers. This is a chance to get a "heads up" on the new changes before we set down at the closing table.

The March meeting of “Coffee Talk” will be March 9, 2016, at 10:00 am. in Lynn's conference room. Lynn's office is at 1107 S. 8th. St., Austin, TX, 78704. See you in the conference room.

Many thanks to Lynn for hosting our meeting.

TAXES

We all know the old statement that there two certainties in life “death and taxes”. Now is the time to be getting ready for the latter. Doug Tidwell, an Austin CPA, that has been very good to share some of his knowledge with the group has agreed to speak at our February meeting. Doug is great with understanding the complexities of dealing with tax and real estate issues and has saved a lot of people a lot of money. This is our chance to pick his brain for an hour for free.

The February meeting of “Coffee Talk” will be February 10, 2016, at 10:00 am. in Lynn's conference room. Lynn's office is at 1107 S. 8th. St., Austin, TX, 78704. See you in the conference room.

Many thanks to Lynn for hosting our meeting.

PAPER FREE

Paper is still with us, despite years of predictions of its demise, as a communication medium. December, for me, included going through a file drawer size box of paper to finish up year end reports and get ready for tax and other filings in the first quarter of 2016. That said it came as great news, when Lynn Curry offered to share some of the techniques she has developed in going paper free in her real estate activities. Our January, 2016, meeting of “Coffee Talk” will be an opportunity for participants to see how Lynn does it, ask questions, and possibly learn something new to help manage their business.

The January meeting of “Coffee Talk” will be January 13, 2016, at 10:00 am. in Lynn's conference room. Lynn's office is at 1107 S. 8th. St., Austin, TX, 78704. See you in the conference room.

Many thanks to Lynn for hosting our meeting.

ROUND TABLE DISCUSSION

The December meeting of “Coffee Talk” will be an opportunity for participants to brain storm, share ideas, and suggest topics that are important to them. New construction is still of interest as well as mold remediation which is relevant with all the flooding the area has experienced. Let's talk some shop and connect with fellow investors.

The December meeting of “Coffee Talk” will be December 9, 2015, at 10:00 am. in Lynn's conference room. Lynn's office is at 1107 S. 8th. St., Austin, TX, 78704. See you in the conference room.

Many thanks to Lynn for hosting our meeting.

Alex my thoughts are friends and business don't mix.  Business demands that you make a profit in order to stay in business.  That means that any end buyer, that you would sell to,  would require a price low enough that they determined that it was worth their time and the risk.  You would also want to make a profit so that would mean your friend would have to price the property low enough to make that happen.  If the property is in retail condition she could list it and sell it in the retail market.  if the property is not salable in its current condition and she really wants to git rid of it then you might be doing her a favor. 

MULTI-FAMILY

Our November meeting of “Coffee Talk” will be a departure from our construction theme. We had the opportunity to book Phill Trietsch for the meeting and took it. Phil focuses on acquiring multi-family/apartment communities primarily for long-term buy and hold investments. He is co-owner of Tenex Properties which manages both single family and multi-family investment properties for clients who want to diversify into real estate as part of their net worth and cash flow.

We'll discuss:

• How apartment complexes are valued differently than single family homes
• How the mechanics and loans for buying apartment complexes is different than buying single family homes
• Different strategies involved such as value-add and appreciation
• Cost associated with managing apartment complexes

The November meeting of “Coffee Talk” will be Wednesday, November 11, 2015, at 10:00 a.m. in Lynn's conference room. Lynn's office is at 1107 S. 8th. St., Austin, TX, 78704. See you in the conference room.

Many thanks to Lynn for hosting our meeting.

RESCHEDULE....Due to a conflict with our film crew Coffee Talk will be moved to October 21, 2015.  The same time and place, sorry for the change but they need to be in New 

@Heather Lavergne Yes the meeting is open to all.

@Gonz Trevino Gonz in Austin they can be pretty good houses but there is money to be made putting new larger structures in their place.

@John Blackman True to all you said.  Can you make the new date?