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Updated over 4 years ago on . Most recent reply

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Shnicka Shuler
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First Time Flipper -

Shnicka Shuler
Posted

First time buying property and need help navigating or a being shown where to go to get help on using OPM for my flip.

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Will Fraser
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
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Will Fraser
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
Replied

Hi @Shnicka Shuler, welcome to the BiggerPockets forums!  

A bit of unsolicited, but hopefully life-giving advice here:  IF this will truly be your first time buying property, don't use OPM to flip it.  You need repetitions and buy-in before you endeavor to flip a property, otherwise you'll be a hazard to their money and that's the fast track to a bad rep.

If this wouldn't be both your first home purchase and first flip, then I'd still recommend getting a flip under your belt using your own funds OR finding a way to partner with someone else who is flipping to learn from them how to put together a SOW, schedule contractors, pay contractors, market the property, etc.  Then, once you've gotten the reps with the partner you'll be a sound investment to your friends, family, and other sphere members who you'll invite to partner with you in flips.

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