All Forum Posts by: Anmmar Alsaggaf

I am new to investing but based on my interview with one of the top flippers in Fresno, I learned that finding deals is the 1st critical success factor in flipping. When you analyze a property you start with the property, the amount to fix it, and then you estimate profit based on total repair value and running comps in the area. You need a solid deal with enough margin as Jay mentioned. So the last 5 years people with no experience have been able to enter the market buy pretty much any property and 8/10 times still make money. Now margins are tighter and in order to make a 20K profit or 20% profit you really have to know your numbers and have costs down in all areas of the flip from start to finish. Please give me feedback and let me know if I am correct or not. 

Thank You David and the rest of you again! Much appreciated. 

Thank You guys!

No I have not had a serious discussion with the potential partners yet. It was a hypothetical question for something I kind of have planned in the future. Real estate lawyers sound expensive. Anyone have any idea what they might charge for a single family home or mutli-unit up to 4 unit?

Case: 

So what I have 4 partners with 25K for a total of 125K on a single family home we are looking at that rents for $1500. How do we structure a contract or deal so that all revenue/profits/expenses/taxes are split evenly. Also if someone wants to buy out can I just set it at the buy in price. So if you bought your share for 25K and decide to sell in 1 year or 5 you can only sell at the 25K initially invested (to entice the members to stay in longer). These are people I trust but we still want to lay out all the rules. 

Sorry I tried to reply from my phone Friday but it did not go though. I PMd you.

Bit Wise - I contacted them twice with no response from the lady who books the room I will try again today. 

Fresno State - Costs money so that is a no no. 

Jay what an awesome game plan. Yes this will make our meetings full of real action and lessons. 

Jay Orlauski - Ill call and find out. Is there anyway you guys would be open to Evening or weekend meeting? Some of us work outside of Fresno and would not be able to make a lunch meeting unless it was on a SAT. 

1. Add http://bitwiseindustries.com/ to the list of possible meeting places if you have not already. Very cool place to meet that gets people's networking and idea juices flowing. 

2. Another option is maybe coordinating something with Fresno State's Gazarian Real Estate Center. I have a contact there that might be able to assist us in booking a room.