All Forum Posts by: Colin Burnett

Hello! I'm new to house flipping and feeling a bit apprehensive about moving forward with my first deal. Do any of you have some advice for this initial flip? Any tips or insights would be greatly appreciated!

I think the uneasiness comes from not having enough reserves/ funds for downpayment and closing. It also could come from not having an experienced partner to help mitigate risk.

I had the same uneasy feeling thinking about ditching my W2 job to pursue a career in real estate, when the market turned for the worst. I made sure to have at least a year cushion before fully committing to it. Towards the end of the year I was down to my last couple of grand until I had finally seen the results of my prospecting throughout the year. That 1 deal, had pretty much paid for my salary for that year.

If it wasn't for me having enough savings, I don't think I would be where I am at today. If experience is your concern, you can easily partner up with another experienced investor in your area to help balance the risk out.

very well put.

0 Votes

Atlanta, Georgia

too bad she lied, she may have been a good tenant. hard to tell these days, sometimes you get clean background checks but the truth is they just were never caught before and are terrible tenants, some bg's come back with history and their the most punctual and quiet tenants possible. you just never know these days. judging a book by it's cover sucks but we gotta do it.

0 Votes

Atlanta, Georgia

All Forum Posts by: Colin Burnett

Colin Burnett has started 1 posts and replied 3 times.

Post: Sable Chase flip

Post: fix and Flip

Post: Tenant lied on rental application regarding criminal history