All Forum Posts by: Carlos Esparza

Hi BP community. I just bought a house (first purchase) from an owner and looking for ideas on how I can flip this house with the support of friends and family. I'm not sure if this info will help but, I purchased the home for 20k and looking at around 20-30k to repair. I noticed that similar homes sold for 100-140k after repairs. I guess my question is, does anyone have an idea of how I can have friends supply me with a monthly budget for repairs and in return, offer them a percentage once,  or if, the house sells? I know first things first, is to get my numbers in order but how about drawing up contracts or a business plan that would explain how I would go about the flipping to ease any concerns? Does anyone have any suggestions on how to start? 

@Brad Larsen

 Thanks for the heads up. seen a lot of people renovating and trying to flip but heard from a couple of owners themselves that it was tough.

@Chase Keller

Looking to hold rentals in that area but also looking in to Ames or Marshalltown. Might be pricier but it beats trying to get something in my area of Los Angeles.

@Jason Hirko

Great and thank you.

@chasekeller 

thanks for taking the time to read my post. As for Iowa, in the county of  Tama a slaughterhouse has recently been opened and i think (im no pro at all) but there is a pretty big rental market out there. The manufactured homes was more of a flip idea in san antonio and having family members that already have experience in that filed. I had a chance to visit Iowa and talk  to brokers, electricians, investors and agents,I"m ready to make moves and have family in the businesses willing to help out

hi everyone

newbie  ready to make my first investment. I'm having a trouble of where to start my first investment. In San Antonio my pops has done a pretty profitable flip by buying a huge piece of land and putting a manufactured home in it. So i kinda want to go that route. On the other hand, i have a pretty honest team set up in Iowa (construction work wise) from plumbers, dry wall people, electricians , and much more. What does the BP community suggest i do? i know I'm asking really general questions but if any investor out there wants to show me the ropes, I'll put up all the money in return for some advice and guidance through the process. I obviously need to see the numbers work from one of the BP calculators (and undertand it) before I DO ANYTHING. So, thanks for taking the time to read this guys, any investors in Iowa, please hit me up and maybe i can make out to one your RIE group.

hello everyone, I'm newbie investor looking to do my first flip or a live-in flip. I've been doing some studying but would like to take the next step and go through an actual flip. If anyone out there is interested in walking me through a flip, I've got a couple of things in place that might help myself and someone else profit from flip.(401k loan, long term employment, rising credit score, and other things that might help with loans or other things). I'm located in Lynwood, CA.