I live in NJ and curious about house flipping

[Kyle Knowles]

Hello investors, I am a young aspiring investor whose been doing a lot of research when it comes to real estate. Specifically long term rental properties and house flipping. I’ve read the books and listened to almost every podcast and me and my father (77 year old ex project manager for medical arts buildings) are looking to get started. We’ve made some offers and even got a home under contract for a long term rental, but the hot market bumped us out (Morris County, NJ).

My short term goal (within the next 6 months) is to either find a more experienced partner to flip with 50/50, or take on the flip myself with my father although he’s inexperienced when it comes to house flipping specifically. He is on the other hand experienced enough to do inspections himself, price and negotiate with contractors for larger projects, and reading floor plans. I myself can do these things, but not the degree as he. I’m a lot better being taught something. Show me something I can do it

My mid term goal is turn the profit from 6-8 flips into long-term rental property with the BRRRR strategy. By the end of 2024 I would like to have made deals on 20 units or more.

My long term goal is to have enough rental income to equal $120k/year which I can then use my equity to venture off into riskier deals. With each unit making approximately $100/month I would need 100 units to reach this goal. This goal is set for the end of 2027. I am 21 now, I’ll be 27 then.

Why do I need you and what can I do for you? I need you because you can practice on a punching bag for years, but the moment you step into the ring you get KO’d in the first 15 seconds. I’ve done tons of reading, almost too much of it. Ive analyzed my fair share of deals and frankly, all I need to do is get started. I need your experience in mistakes. I want to learn all the mistakes you made starting out and maybe even some you’re making today.

What can I do for you? I’m 21 years old. I’m HUNGRY. I love everything about making deals, and I’m ready to make tons more. If I don’t have the time, I will make the time. Wake up earlier, come later, it doesn’t matter. I also have my father, and about 75k I can put fingers on whenever needed.

Thank you for the time you took to read this and I hope this year hands you an abundance on blessings.

One love.