All Forum Posts by: Andrew Barber

Thanks for sharing Stephen, I am close to the stage where I need to pull the trigger on my first one, I am just putting a few more pieces of the puzzle together. I need to establish a good $$$ source, hard money looks like a good angle. How did you get the bids before you made the offer? Did you walk through with the different contractors or take pictures and write up a scope of work?

I tested the Homesnap app and it worked perfectly. Great tool for driving for dollars!!!

I am a newbie, so I don't know anything, but I just met with my insurance agent about insuring the properties I don't have yet, but he told me to make it a part of my lease to make tenants have renters insurance and name my company and me as additional insured. This protects me in case they burn my house down because they did something stupid. Not that I expect any tenant to ever do anything stupid, but just in case...

Thanks @Jose Flores

I have a related question, let's say you see a house to add to your list but can't find the address, is there an app that helps with this?

Nuno, you beat me to the punch. That was my idea also, I would also add, ask people at your meetup meetings about wholesalers, some buy really cheap and then mark it up just a little to their repeat buyers so they make their profit in volume and quick turnover. Some on the other hand are not leaving much meat on the bone for the flipper to work with. Use the BP analysis tools to analyze prospective projects. Brandon says he does 100 analysis a month. That is the only way you are going to know good deals from not. Some may say that you are suffering from paralysis by analysis, but I see it as your education period. Or, you can just jump in there and buy something and hope it is profitable, which could make your first deal your last. Good luck!!!

I am new to Pro, I am beginning to use the calculators to analyze deals. Are there some rule of thumbs to use on things like the hazard insurance and such? Is it common to have a standard amount for selling and buying costs?

I am brand new, at this stage I have a million questions, but probably the biggest is "what avenue to take for financing?" After a couple of months of looking I think my best avenue of getting houses for the price I need to get them is "distressed properties", and it looks like that could be a quick turnaround, meaning I need quick cash. So, my thought is go to a bank with my $45k that I have to get started, show them my business plan, and see what reaction I get out of them. Thoughts? Advice?