New investor in NW Arkansas

[Zack T.]

Greetings BP,

There's so much to say, I'm not sure how to even begin. 

Our journey probably started in 2008 when my wife & I purchased our first house. We accidentally fell into a bank-owned foreclosure in Fayetteville, AR. Over 9 years, we replaced carpet with hardwood, installed all new fixtures, re-tiled bathrooms, painted inside & out, all that good stuff. We sold it for a decent profit 2 years ago and thought, "What if we could do this again, but faster?"

It took another 1.5 years to finally make the leap and in November 2018, we bought our first flip house.  It's not like we were fans of flipping shows either. We just knew about flipping as a concept, enjoyed the work, and saw the potential. It was sometime in December (a month after we bought the flip house) when I came across BP via some youtube videos.

While putting in flooring and scraping ceilings, I devoured dozens of BP podcasts. At nights I dug into the forums and blogs. I've been to my local meetup every month and have found a great group of like-minded investors. 

In February, we put the house up with our realtor and in one day we had 9 showings & 5 offers. We closed this last Tuesday at about $10k higher than we'd expected.

With regard to strategy, we are looking at flipping only as a short term tactic to build up more capital, but will transition into buy & hold later this year or early next.  I hesitate to discuss goals, but I want to do at least 5 more deals this year at minimum.

My main areas of interest right now are ramping up marketing and how to structure partnerships using private capital.  I can post about those elsewhere, but am certainly interested in any advice.

Thanks so much for reading, and looking forward to getting to know many of you.

Zack