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Updated over 11 years ago on . Most recent reply

User Stats

100
Posts
24
Votes
Daniel Cruz
  • Knoxville, TN
24
Votes |
100
Posts

So, If I want a Mentor who flip houses...

Daniel Cruz
  • Knoxville, TN
Posted

I'm mostly interested in learning how to analyze property rather than flipping houses, but I imagine that house flippers really have a lot of experience w/ the analysis.

I can lend money to help fund deals (purchasing a place, rehabing), I can also buy lunch.

Are these good ways to attract a mentor.

I know you have to build a relationship, I'm not good at meeting people and I'm not good at long conversation (wife says I have boring personality and she's right).

Anyway, just dipping the toe...Thanks

Most Popular Reply

User Stats

348
Posts
128
Votes
Jacob A.
  • Investor
  • Raleigh, NC
128
Votes |
348
Posts
Jacob A.
  • Investor
  • Raleigh, NC
Replied

@Daniel Cruz

What exactly is your question here? There are a million good resources out there that will give you amazing guidance on how to analyze deals. You don't need a mentor to show you how to analyze a deal. If deal analysis is what your are ultimately after go look on the MLS and do an analysis on every single house you see. Keep doing it over and over again. Look at comps in the area. If you don't know your repair costs yet, which it sounds like you don't, then figure out all the other pieces of the puzzle like the ARV (after repair value) by looking at comps, figure out your financing costs by talking to lenders, and you can back into what your maximum repairs could be. Walk through a few houses with a contractor and get him to give you estimates. After a while you will be able to tell what a 10k rehab looks like versus a 50k rehab and a 100k rehab and so forth. It's just like any other aspect in life. Practice, Practice, Practice. Anyways, I hope this helped. Good luck to you!

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