All Forum Posts by: Christopher Blanco

I guess everyone's definition of Cash Flow is different too. I define cash flow as after PM, Repairs, CapEx and all other expenses. I have never seen one work out to more than $100-$150 after all of that, but I am pretty green so that might just be me.

I am having the same problem. In my area (Cleveland) taxes are the killer for me. If I can find a property with taxes less than 3% yearly then it usually cash flows better. I agree though, its tough. Yet people seem to be doing it as there are ton of SFR rented around here.

Welcome @Mitchell Litam! I am also an investor in the Ohio area.  Hope to see you around!

Be responsive in calculating ARV's

• My first investor might take 2-3 days to get me comps for a house I was interested in
• By the time I got the numbers, the houses were gone

Generate Lists for your investors that match their criteria

• As an investor I don't have MLS
• I rely on my Agent to shoot me properties as they come up on MLS

Constant contact

• I talk to my agent a lot, a lot more than a traditional buyer would
• Email and text help me a lot because I can't always be on the phone

Understand what investing is and what your investors are trying to accomplish

• I had an agent tell me "I wouldn't even approach a client with that kind of offer!" and that I had to take into account the other intangible things the house had to offer. As an investor, especially a flipper, its all about the numbers. 

@Bryan Henry you can try a free version here: https://www.biggerpockets.com/users/drobertson

To purchase, which I highly recommend go here:

http://www.houseflippingspreadsheet.com

I would also look seriously into the House Flipping Spreadsheet. The repair estimator is awesome. 

I think a foundation issue would be about the only thing that would scare me off a flip where all the numbers work

I don't know much about the NYC area, but I do know its expensive. If you have limited cash, you might want to remotely invest in areas that are not as pricey. It is possible to get 90% LTC financing for your rehab and purchase costs, but you need to network around. I am still looking to close my first deal (just started actively looking about 5 weeks ago), but in that time I have 3 HML's lined up, a couple private money people I am talking to, as well as a real estate agent and a contractor. Keep networking and keep posting on BP!!!

I think @Robert Whitelaw is correct. I did not hire my agent and then just sit back and wait for him to do all the work. I actively feed him properties that I find and he does the same. Work WITH your agent and don't just treat them like they work for you.

@Dan Mitchen can you recommend someone to @Glen Fullerton?