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Updated almost 10 years ago,
Starting to learn!
How's it going BP members. I have been a fluid reader for months for this forum and I have just made an account today to be able to contribute more to this fantastic community! To tell you a little about myself, I am a 20 year old student who has always been fascinated by REI (house flipping in general) and I want to learn the game and take over the Southwest Florida area. I have some basic knowledge on what it takes to make a successful flip, but I want to learn as much as I can before I take my first step into the market and purchase my first property. Some gray areas I need help in because in all honestly I just don't under are:
•Remodeling
-not knowing what things to buy and how to design. I.e not knowing what cabinets to buy for a kitchen to present a specific style. Light fixtures. Which sinks to choose for a bathroom. How do I decide what stuff to buy to rehab a bathroom,kitchen,doors, flooring etc. I'm not much of a designer.
•General contractors
For my first flip would it be ideal to have a GM to manage contractors while I shadow to learn what he's doing so I can eventually become my own project manager on my properties.
•Determing ARV(after repair value)
-I'm a math wiz but I need help learning the fomula to learn whether or not a potential property would make a successful flip/investment.
I have MANY more questions on things I simply do not know or understand and I'm reading many BP guides and articles on tips to become a great REI. I'm willing to listen to any advice and suggestions someone may have for me. Good karma goes a long way.