All Forum Posts by: Alton Bell

Thank you 

Ok thank you guys.

Hello BP Community. My name is AJ and I’m based in Phx Arizona. Me and my girlfriend are planning to get into the reAl estate game and want to begin flipping properties. Not so much buy and hold or rentals but buying distressed homes, rehabbing them and then flipping them for a profit. Now for us to get started my girlfriend is planning on withdrawing her 401k which is at about 92k right now. From the information that I’ve researched we will be hit with a early withdrawal penalty and additionally the money will get taxed. This is where me and her have a disagreement because she doesn’t believe the money will get taxed. Can someone please help me understand and give me some advise on any unforeseen issues we may incur and also some other options we can explore. Transferring the money to a self direct and only borrowing etc. any help and advise would be helpful. Thank you!!

Ok that’s exactly what I was trying to figure out. That’s some great insight. Thanks a lot.

Ok ty

Hello community. My name is AJ and I’m a new house flipper. So I’m very very early in my career, I’m now gona start to look into purchasing my first flip. I’m not trying to get ahead of myself but I have a questioned for my season flippers or anyone with some good advice. And honestly this may seem like a simple question but after I get rolling Flipping homes, I do plan on scaling my business to Flipping 3-5 homes simultaneously and just for clarification, from the research I have gotten on how flippers grew their business. When they wanted to flip 2, 3, 5, homes did you guys focuse on volume rather than profit you would have made on each individual property? It kinda makes sense just like you don’t want to do your own rehab work as a flipper. The idea is to purchase the home at a great price under way under market value get it rehabbed to me as soon as possible with quality and ethical work and get it back on the market. I’m guessing that’s the idea of your approach when scaling your business as well? Just try and flip more homes over a period of time rather than just sitting on each individual one? Volume over profit? If that makes sense?

Hello community. My name is AJ and I’m a new house flipper. Okay so I’ve been listening to a lot of podcasts and really just taking in on how people started off their house flipping business and got started. And I’ve heard a lot how people finaly take that first leap and get their first property bought rehabbed and sold and they catch “the bug” ( I can only imagine) but what I been hearing is how they get over that first hurdle of their first flip and then after that they just seem to go all in. Which of course I already am and I’m very motivated and determined to flip homes but the numbers I’m hearing is to me a bit far fetched. I listen to them say they flipped 4-8 houses their first year. Then go on to say they flipped 40 the next. To me it just sounds like they are on a take on every flip mission at any cost. I’m not sure if their is some whole selling in there but to me just seems a bit gassed up. Now my real question is primarily to seasoned flippers or anyone with a good input on how they started off. How did you handle wanting to do more deals and doing multiple deals simultaneously when you first started off? When I get rolling do I just go all in and take on as many projects that I feel comfortable with? Of course considering they are good deals and I ran the numbers and everything checks out but I question how some flippers handled multiple leads coming in when they first started off. I plan on paying myself a percentage of the profits I make off a flip and then putting the rest back into the business but I’m wondering how other flippers did it. When you had a property under rehab and another lead came in we’re you willing to put up all your cash reserve to do another flip? Granted I know if your short on funds you have options of private money and other ways to fund the deal etc. but that’s primarily my question is how was your business cash reserve looking like? We’re you willing to put all your money up and have 3-5 rehabs going on? How did that look like? How did that work out?

Any advice and input would be appreciated!

@Alexander Knowles

Hello Alexander. I’m an aspiring house flipper and plan to move to the Houston Texas area this summer and I would like to know what’s your opinion on the Houston market compared to San Antonio , Dallas , Austin market in regards to house flipping? Thanks!

@Antonio Cucciniello Hello Antonio. I currently live in Arizona and I plan on moving to Texas this summer. I’m eyeing Houston but I would like your opinion on the real estate market in Houston compared to Austin, San Antonio in regards to house flipping. Thanks!

Thank you.