All Forum Posts by: Christopher Blanco

I found my awesome agent right here on BP. He is an investor as well. Keep networking!

Are you planning on Wholesaling, flipping or renting the property? Have you looked at ARV? Done a quick and dirty estimation, figured in your purchase, holding, selling costs? How much are you looking to make? Using those numbers you should be able to figure out your offer price.

@Mayo Oshin Make sure that you have both a good real estate agent and a contractor on your team. I am on my 2nd real estate agent and I found 3 GC's by posting an add on Thumbtack. I interviewed all 5 that quoted. I found one who agreed to do a walk through with me and saved me from investing in a house with serious foundation issues. Offer to pay them for their time. The $50 or so it costs to have them out makes it worth it. My realtor who is a guy I met through BP will help me with ARV's. Keep networking and don't try and do it alone!

I made mine something that meant something to me and what I wanted to accomplish. If I ever change my focus from Homes I can always start another LLC for that purpose.

Congrats! Nice work!

Has anyone worked with Eco-Tax for CPA services? I am a new REI and just had a call with them and I was really impressed. Before I plunk down the cash for services, I was wondering if anyone ever heard of them?

Welcome @Joe Coyne!

@Michael Bredthauer Thanks, but I am not wholesaling, so a "same day closing" won't make a difference to me. My holding costs are the costs of mortgage, taxes, insurance and utilities during a rehab. Right now, the cost of the mortgage, which is a HML at 12% with 3.5pts, is the largest holding cost I have.

@Eric P.   Well I am in the market! :) My biggest challenge is that this is my first flip. I don't know a ton of people who partner with first timers! Also, I need a deal under contract, but its hard to find a deal when you don't know how you are going to finance it. Though in the 2 months that I have been on BP a lot has changed. I have more cash and I have learned a lot, so maybe its time to revisit some EP's

So it looks like I have two options:

1) Go super low price...start Flipping in Mt. Pleasant and work out 5-10K profits, but less involved in time and money. I can do this in cash right now

2) Go higher end, more money, less competition.

Number 1 I can start tomorrow with the money I have but with risk that properties won't sell and repairs will be too high, #2 is safer puts me on the sidelines longer and to me, further away from my goal of doing this full time.