Thus, as I am at this point a ‘hobbyist’ and not a professional I presumed I would simply report whatever minimal profit or loss realized on this first joint flip project as pass through income.

A young guy I know bought a cute vintage camper, sprayed it black, cut a window in the side and built it out as a mobile coffee shop, which is now parked outside of events and staffed with college girls.

“Long term” lending doesn’t cut it.

I’ve been actively seeking mentorship opportunities in Dallas, diving into real estate literature (including David Greene’s BRRRR method), and connecting with others who are passionate about achieving financial freedom through real estate.If you work in IT, are based in Dallas, or simply want to connect, I’d love to hear from you!

Most likely once you cut open a hole in your sheetrock you will se the 2x4 wall framing, and more sheetrock, which should be doubled 5/8" fire rated sheet rock.  

Or are you simply looking to get into something turnkey, and just stick a tenant in there with good cash flow?

I thought the same thing and scaled up rather quickly to 300 units in deep south 95% section 8 after about 18 months I realized I bought myself a job that was simply not worth it..

But if you're simply planning on reinvesting all to get the best return possible you might also want to think about a diversification exchange where you sell one property and buy more than one.You could buy that smaller land locked piece. 

Anecdotally, one investor in our network has had to cut price multiple times on two of their currently listed flips in Tampa given the amount of properties on the market.

You can couple that news with the news out of China today that they have decided to cut their interest rate, lower Bank Reserves, (banks can lend more money) and make it easier for people to buy houses and they are also actively pumping money into their stock market which is to say we were going to have the massive inflation going forward.