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Updated 4 months ago on . Most recent reply

User Stats

36
Posts
28
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Sparkle Carlock
  • New to Real Estate
  • Indianapolis, IN
28
Votes |
36
Posts

I would love a real mentor...

Sparkle Carlock
  • New to Real Estate
  • Indianapolis, IN
Posted

I believe i am in paralysis... I'm financially nervous to take steps to beginning my re journey as a flipping investor. Is there a way to get a person to help you step by step without being taken advantage of? Let's say I aquire the  right amount of business credit and get loan approval and am ready to take next steps. Is there a way to get someone to "hold my hand" through my first flipping process, start to finish. 

Most Popular Reply

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5,111
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4,090
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Nicholas L.
#3 Starting Out Contributor
  • Flipper/Rehabber
  • Pittsburgh
4,090
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5,111
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Nicholas L.
#3 Starting Out Contributor
  • Flipper/Rehabber
  • Pittsburgh
Replied

@Sparkle Carlock

i'm just going to ask... you said you're financially nervous.  is that because you don't yet have a strong financial foundation?  flipping is difficult and time consuming and expensive.  just because you haven't started yet doesn't actually mean you're in paralysis.  if you don't have a VERY solid amount of cash - tens of thousands of dollars - then your next step is actually:  save up more.  not buy a deal just to do a deal.

even the hold / rehab period during a flip can cost several thousand dollars a month.

not trying to be discouraging, just realistic.  you should definitely be going to meetups and networking as well.

hope this helps

  • Nicholas L.
  • Loading replies...