All Forum Posts by: Jamie S.

Wow, John! That is impressive and inspiring!

Welcome @Mark J. !

Welcome @Matthew Buckley ! Congrats on passing your exam.

The first thing I would suggest you do is order and read "The Book on Flipping Houses" by J Scott. In addition, listen to as many podcasts as you can. 

Good luck!

@Michael Linquist Welcome to BP! I fully agree with the all of the advice that has been presented here so far. @Hattie Dizmond is right, you should definitely read at least "The Ultimate Beginner's Guide" and J. Scott's "The Book on Flipping Houses" before you jump into any deals. 

The 70% rule is a good rule of thumb to do a quick deal evaluation, but you want to make sure you look at all of your costs before going into a deal (closing costs, holding costs, cost of the hard money loan, rehab costs, contingency costs). This will make much more sense after you read the books. 

As for getting a third party opinion on the comps, talk to a real estate agent. They are skilled at evaluating comps.

I never trust what the person trying to sell me the property says the property is worth or what the rehab will cost. Usually, they will overestimate the ARV and underestimate the rehab costs. As @Chad U. mentioned, the ARV, rehab cost, or both being off can end up costing you.

Please read the books before jumping into any deals.

@Laura Hernandez Doug and Colin can correct me if I'm wrong, but I was just in Hyde Park the other day near the Cinebistro and that neighborhood looked super cute. It's in Hillsborough, not Pinellas, but it's right near MacDill.

@Crysta Balbontin Welcome to BP! You've definitely come to the right place. I know it's already been mentioned, but definitely read through J Scott's books "The Book on Flipping Houses" and "The Book on Estimating Rehab Costs." 

I was directed to Advantage Title Partners in Clearwater by the guy that heads my local REIA.

Welcome, @Brian Johnson !

@Daniel K Adderly Good luck!

@Chris Aall 

 Welcome to BP! You may want to check out the free webinar on rentals. Go to Resources/Free webinars.