3 Fix & Flip Analysis Per Day

[Steven Kopstein]

I just wanted to share my progress - I've been working hard to scan the various sources for deals in New York Metro and I started analyzing 3 deals/day as Brendan recommended in one of the podcasts.  I started on 11/4 and today reached number 38, which is about 1/3 of the way.  I'm not clear on when I should start making offers - is it after the first 100 properties, or while doing my 3/day.  I've set Jan 2016 as my beginning to make offers time, but I'm wondering if it's necessary to wait.

If anyone else is doing 3/day per the podcast, I'd be curious to hear your progress.  It's quite informative.  I'd say about one in 8 deals I analyze makes sense (in other words, the maximum allowable price given the $50k/project I am seeking is within shooting range of the asking price.)

[Clayton P.]

Definitely make an offer, but at the same time know your exit and how you're going to achieve it. Have a pre approval from your lender, private or conventional, have a good marketing plan if you're planning to wholesale (or better yet a few buyers), have your contractors on standby & the lien waivers ready to go if you're doing the flip yourself.. You get the idea. The most nerve wracking thing is actually getting a low offer accepted and not knowing how to perform