All Forum Posts by: Jon Passow

@Jon Passow have you done out of state flipping before? I see you're from the area so I assume you know the risks of buying in the wrong neighborhood, but it seems to me that if you don't have systems in place to monitor your rehab, you might be getting in over your head. It's hard enough to get a contractor to show, let alone stay on track from afar. 

But if you're going for it, get everything in writing. And I mean everything! And get plenty of pics/videos as others have said. It's all about expectations with contractors and you've got to lay it all out up front. 

For what it's worth I probably have to hire about five contractors for every one that actually shows up. And most people I talk to would say the same. 

hey @Jon Passow I flip a lot in cleveland and I live in Orange County. I’ve gotten so used to working w my crew, but I’ve also done a few joint partnerships where at the very least we send pictures every week or two. Money should drip in draws just like a normal construction loan. Also I’ll say do a small job w a contractor first before diving into anything extensive. I’d be happy to talk shop anytime. 

I’m also hosting a bunch of out of state investors at my place in Newport next month. You should come down if you can fit it in your schedule! Check the bp events tab. 

Pictures can help, but video is much better. Have your GC or PM send you daily/weekly videos showing the progress that has been made and it would be helpful if there was a calendar/timeline made you can reference for what should be done at certain times as well. I'd have the GC/PM upload the videos to YouTube and send you the link as you can view higher quality (and longer) videos there than having him send you short video clips via cellphone.

Hey Jon, I’m in kind of the same boat with having to pick a course of education. I have some benefits left from my GI Bill that I’m wanting to put towards a masters in something that’ll strengthen my foundation. It might be good to find a degree program you think could be beneficial to your goals and pull up the curriculum list from different schools online. There, find a couple core classes and try to find similar ones locally available. It’ll help specialize the knowledge rather than taking Stats 101 or something more general like that.
Just a suggestion!

Any trades related courses. Framing, plumbing, electrical, general construction.

Everything else is basic math you should be able to do in your head or with a calculator..

Mathematics or business classes would be good