All Forum Posts by: Alec Anderson

 Flips are nice but becoming harder to find as well as more management intensive. New construction seems a little easier to scale so far and in the right areas you can make quite a bit more per deal than flips

I would also be cautious about putting all of your savings down and having no reserves. The deal sounds ok on paper, but if anything goes wrong (with the property or life in general) you would be in a tough position, unless you make a solid income with money to spare every month. You might be better off focusing on how to grow your current income/savings, as it will probably take you 7-10 years to make back your down payment on cashflow alone. The Brrrr strategy would be a better bet, but you'd need to find a property where it would work, that way you get most or all of your money back when the process is completed and can use that same cash for another property right away.

 Would love to connect, we are doing flips, rentals, and new construction in Chattanooga, as well as wholesaling

I would join every wholesalers list in the areas you want to invest, so you start getting deals sent your way. Most will be mediocre but some good deals will eventually get sent to you. I would also talk with some hard money companies and figure out what their lending criteria is, and then find deals that meet their criteria so you don't have to sink all of your own capital into the deal you find.

We use google sheets as well. We set up columns for: Date, Who made the purchase, Where the purchase was made (home depot, lowes, John Doe, etc), What was purchased, and then we made another column to categorize the expense (materials, holding costs, labor, etc)

Ask other local investors who they recommend, typically you will get the best results with a smaller local bank as they can usually be more flexible to work with than one of the bigger national banks

Quote from @Eric Blackwell:

Quote from @Alec Anderson:

Investment Info:

Single-family residence wholesale investment.

Sale price: $78,000

This one was gutted and rehab started. Had nice curb appeal and in a part of town that is starting to gentrify

 Can you send me the details over DM. 

 This is a past deal that i've done. Sorry if there was any confusion

Investment Info:

Single-family residence wholesale investment.

Sale price: $78,000

This one was gutted and rehab started. Had nice curb appeal and in a part of town that is starting to gentrify

Investment Info:

Mobile home fix & flip investment.

Cash invested: $50,000

Fixed up this one and sold via owner financing with a large down payment to have almost no cash left in the deal and monthly cashflow

Investment Info:

Single-family residence wholesale investment.

Sale price: $11,000

Full rehab needed on this one, sold dirt cheap