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Updated over 11 years ago, 03/26/2013

User Stats

2
Posts
1
Votes
Andrew McIntyre
  • Omaha, NE
1
Votes |
2
Posts

New to flipping homes (hoping for advice)

Andrew McIntyre
  • Omaha, NE
Posted

I would like to get into flipping homes. I currently live in Omaha, NE and and would like to do this here.
I have a few flips while I lived in San Francisco
My background is architecture and I have work for over a decade in design build firms.
I have been struggling trying to find work and feel with my design background, my ability to do a lot of the work on my own to fix up houses that I would possibly do well. I also have the opportunity to generate financial backing from relatives that would allow me to get maybe two house going at once without going to the bank.
So my questions are :
1- Can I earn an regular income if I did most of the work for upgrading these homes? I would also at as the GC Being the GC would I take on a 15% charge?
(what about doing the framing hauling, etc- Do I charge for this" or is this in the profit?
2-What type of profits should be giving to the lender?(I know this can vary but is there a typical range for borrowing from friendlies. 8%, 10%, 15%
3- What is the topical hold and your time for flipping?
4- Should I do a for sale by owner or use a Realtor?

Any guidance would be greatly appreciated.
thanks
Andrew

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