Mentorship/Advice from seasoned

[Bryan H.]

Hi, everyone. I want to take the next big step into turning my real estate journey from doing everything myself with my own money to learning how to run a business working with both in-house employees and seasoned contractors. I believe I have a good business plan and have the experience to back it up but I want to talk to someone who has been where I am and been successful. I want to make sure I am not missing anything major and that I have all my bases covered. If anyone who runs a successful flip (5+ a month) or LTR (50+ units) has time to chat I would appreciate the direction and reassurance. I have done every step of the process with my current properties and I think the next step is deligation and management. I look forward to hearing from all of you!

[Jake Baker]

@Bryan H.

We do 20 Flips/BRRRRs per year and use these tools:
Underwriting - DealCheck
Project Management - ClickUp
Bookkeeping - QuickBooks Online Plus Subscription
Team Communication - Slack

Hard Money will fund 90% of the purchase price and 100% of the rehab on a draw schedule. Our Private investors will fund the remaining 10% of the purchase price, the first portion of the rehab (to be drawn later from the HML), and the holding costs.

[Bruce Woodruff]

My thought as I read your post was that if you are going to limit your advice givers to only those who flip 5+ a month, you are probably going to leave out a lot of great people who could help you on your journey.

Up to you though.....

[Bryan H.]

@Bruce Woodruff yes you might be right. I have read, listened, and talked to a lot of people who do 1-3 a month and while their systems work for them it seems limited to the bandwidth that they can take project management-wise. I want to build a system with a team of closers who take generated leads, close them, and hand them off to a PM who will have a head manager of their own then once the project is complete it will be handed off to our property management team/contractor who will rent it so we can get it funded with some form of DSCR loan. I want to streamline the process where the team runs itself so I can focus on using the excess funds to diversify into other businesses like large-scale development for new builds. I appreciate the push in the right direction!

[Bruce Woodruff]

Quote from @Bryan H.:

@Bruce Woodruff yes you might be right. I have read, listened, and talked to a lot of people who do 1-3 a month and while their systems work for them it seems limited to the bandwidth that they can take project management-wise. I want to build a system with a team of closers who take generated leads, close them, and hand them off to a PM who will have a head manager of their own then once the project is complete it will be handed off to our property management team/contractor who will rent it so we can get it funded with some form of DSCR loan. I want to streamline the process where the team runs itself so I can focus on using the excess funds to diversify into other businesses like large-scale development for new builds. I appreciate the push in the right direction!

 Are you ready to go there right now? My point is that the most brilliant people in this field may be willing to help you, but maybe they only desire a couple flips a year. You are un-inviting these people to offer you their wisdom.

[Lindsay Liu]

Exciting (and big!) step & I am sure inspiring to many on here.

I work with a number of developers and asset owners, and one of the common things we see seems to be what you're pointing to — the handover processes can be disjointed, especially as some folks in this industry are less thrilled to use technology like Slack for communication. If you're up for it, would love to see if I can help with my platform which is a CRM + project management platform + communication platform that works with email/text message so teams (and tenants and vendors) don't have to sign in to stay up-to-date/engage. This has been helpful for our customers that use 3rd party or manage in-house management teams with contractors. LMK!