New to BP and Real Estate
Hello all!
I wanted to introduce myself, ask for advice, and try to network a bit in order to gather some direction in regards to becoming a real estate investor, specifically buying and flipping properties.
My name is Beth Barrow. I'm 35 years old, a mother of three, and currently residing in the Winston-Salem area of NC. I have always worked as a W2 employee within the office administration field. However, I have recently experienced a job loss which has put me on a path of rethinking my future endeavors in securing employment.
I have always had an interest in buying and flipping homes, which mostly started from watching TV shows. Although, I am fully aware it is not at all how HGTV and other programs portray it. There are many moving parts involved, from securing funds for your property purchase, finding a property that would be profitable, analyzing costs of repairs and ARV, finding reputable contractors, planning, designing, etc. In all reality, there is a lot involved; a lot of hard work, time and effort put into the overall process, and there can be much at stake.
Knowing all this, I still want to pursue a real estate journey of buying and flipping properties. I am basically starting from scratch, trying to research and gather as much information as possible. My biggest obstacle will be securing funds for my first flip. I also don't know the best outlets outside of the MLS to search for properties and put them against comps while analyzing costs. Another obstacle would be securing a team of sorts to complete the actual renovation portion. This is where I know vetting and networking will be extremely beneficial.
Any advice anybody could recommend, especially for my particular area, would be extremely beneficial!