Hello from Franklin, TN

[Erik Peterson]

Hello, my name is Erik Peterson. I work professionally as a graphic designer but am looking at getting into real estate investing with my father-in-law and a contractor we know. Our area of interest will be middle, tn likely focusing in Nashville. 

I'm definately a newbie here and am taking the time to read the forums, listen to podcasts and read some books. I'm not to the point of being ready to invest just yet but am learning as much as I can here. I look forward to meeting some of you as time goes by.

[Rick Baggenstoss]

@Erik Peterson Welcome to BP!  I also have family from Middle TN .. Sewanee/Monteagle area.

4 - 6 flips in yr 1 is a stretch.  They take at least 4 months to fix the problems, deal with the bad contractors, municipalities, and struggle thru decisions.  Each one will go faster.  Pile 'em and you'll just suffer the same mistakes four-fold.  

Better approach is to do one at time, then 2 at a time, etc.  Each time prepare to repeat, expand, scale, etc.  

Your profit target is reasonable, but you need to look for deals with $35k profit.  $10k will be lost to issues early on.  

Last but not least, get started on a decent deal.  Make it easy/cheap on the rehab and get some practice.  

You're in a great market and it's a marathon not a sprint. 

Rick