All Forum Posts by: Andrew Flower

That's awesome 😎. Give me a shout if you'd like some help making this happen. I'd love to help if I can!

I have been stuck in analysis paralysis for beginning my real estate career for the last couple years. My plan is to start by flipping homes until I have enough cash to fund a BRRRR project from start to finish and then continue with the BRRRR process from there on out. However, my wife has no risk tolerance for taking loans to perform these project for fear that if something goes wrong, it would negatively impact my family. I would appreciate any advice on how to creatively reduce or even eliminate personal risk so that we can start on this sooner rather than later. As much as I would love to just go ahead and start doing this work, I can't and won't do it without my wife's blessing. Any advice or guidance would be appreciated.

Thanks!

When you meet with a prospective seller, typically I would like to be able to provide an offer within the next 12 hours or so.  This would not typically allow time for a contractor to come in and provide a repair estimate.  Therefore, I feel like I can use the above mentioned resources to get a rough number, but the likelihood that it is accurate is very low.  I suppose this is what the inspection clause in the purchase contract is for.  Any suggestions on what to say to the seller to help manage their expectations in case I need to re-negotiate the purchase price?

Does anyone have any recommendations for effective marketing methods in this hot real estate climate?  I'm familiar with driving for dollars and direct mail marketing.  I just want to know how people have adapted to this market so that I might also be able to acclimate.  

I'm a new wholesaler in the Indianapolis market.  I would just like to know what rehabbers and flippers are looking for in a cash deal.  Obviously you would like to make a profit, but what are your minimums and what types of homes and conditions of homes are you looking for?  I would also love to connect with an experienced investor in this market to pick their brain, so please feel free to connect with me on BP.

-Andy

When you have found a potential deal and you are getting ready to make an offer, part of the calculation for that offer has to include the necessary repairs to either bring that property to its potential retail value or make it tenant ready.  I understand that bringing a contractor in to provide an estimate for these repairs would give you a good idea, but this could also be time consuming and would require estimates for several different properties to get good data.  Then there is the fact that material and labor costs fluctuate fairly significantly at times which would change these numbers.  This brings me to the question, how do you "ballpark" the repair costs for a flip and for a rental so that the turnaround on an offer is faster?  And because there are different figures in every market, I would appreciate some Hoosiers from central Indiana giving some insight.

Thanks!

Andy