I pretty strongly encourage you to have an accountant or Quickbooks expert who works with flippers give you a hand in setting up your chart of accounts and training you in how to use it.

My five year old is currently helping with a rehab project and he is super excited to just lend a hand doing repairs, etc.

I am born and raised, and know the local market like the back of my hand!

Unfortunately, $50k might not go very far if you’re flipping homes, as is Lisa’s goal.On the other hand, if you want to invest the money tax deferred and with no access to any of it until retirement (i.e. you don’t have to live on it now), many types of self-directed retirement plans could work for you as have been beat to death on this board.Jeff

I did it by utilizing relationship with reo brokers and buying a handful of deals at once.

How near, and what will happen, is the question I wrestle with.On one hand, there is a huge demand building as more rehabbers (skilled or not) enter the market.

After a modification if principal is not forgiven you're still in the same situation as I pointed out, but with lower payments.In this case, I'd just tell the seller that she needs to modify or sell short, to get with her agent/attorney and see which was best for her because your options are very limited and would require more risk that and hand holding than it's worth, IMO.

Nick was the original starter of our local real estate group, he then started touring selling his programs and speaking so handed off to another guy.

We had 4 4plexes at one location that were basically hands off, a triplex that only took a couple hours a month and several single family, a couple of them were management intensive about 5 hours each a month.

Not only did I buy property that Realtors tried for decades to get their hands on, but we were given a donation in cash beyound the sale price for the project.