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All Forum Posts by: Alexis A.

Alexis A. has started 1 posts and replied 3 times.

Post: First time flipper, can't get one deal

Alexis A.Posted
  • Investor
  • Posts 4
  • Votes 4

Thank you everyone for the great suggestions! It's a tough time to be a first time flipper because I've been advsised to stick to something simple for my first flip - but I hear what you all are saying about doing large renovations. I'll have to keep that in mind. I'm in the Raleigh/Durham are of NC.

Post: First time flipper, can't get one deal

Alexis A.Posted
  • Investor
  • Posts 4
  • Votes 4

Hey everyone! My first post, I'm so excited to be here! For the last 6 months, I've been educating myself through books (thank you Luke Weber and J. Scott!), podcasts, Youtube, online, forums, even hired a mentor because I have been really excited to start flipping houses. I have learned SO MUCH and have taken action trying to find that first deal. I've made over 50 serious offers and I haven't gotten even ONE deal yet! I use the 70% rule to generate my offer but seems like the competition is fierce because every single offer I'm making - someone is beating me out! In my area, ARVs are 200-250k so using the 70% rule gets me a 15k-20k profit, which is what I'm aiming for. I've connected with over 50 wholesalers, multiple realtors, MLS, facebook leads, craigslist, FSBO, friends and family, local REIA, and cold-calling. I just sincerely don't understand what I'm doing wrong - Can anyone provide some advice? It would be much appreciated!

Post: How to Calculate Max Allowable Offer

Alexis A.Posted
  • Investor
  • Posts 4
  • Votes 4

Thank you for this post! I'm a newbie and getting discouraged because I've submitted over 50 offers (using the 70% rule because that works in my market where ARVs are 200-250k) and haven't had one accepted. I've done on-market, off-market, direct to seller, wholesalers, nothing bites! I am conservative with my numbers since it will be my first flip, but I don't think I'm overly conservative. Just feel like I'm getting out-bid by other experienced investors. Any advice?