All Forum Posts by: Dan Schweit

@Tomiko Graves This is where I think it is most important to see this as a learning experience. You may pay your GC to handle this first flip for you and your margins may not be near what you expected, but if you pay attention to the work that is done and the manner in which it’s done, it could be a college education on flipping for you. On projects this scale, this is where you will possibly want to manage the work yourself. Find your own plumber, tile installer, painters. Buy your own materials from the stores previously suggested and have them onsite. This is the way you can see costs, mange costs and also save a lot of money. GCs can be great, but as your experience grows, so will your network and knowledge of what it will take. That’s why it’s so important to be as involved in the process as you can be. Good luck and always learn from each project, good or bad.

 Hey Dan, Vegas is growing rapidly for sure. Seems to have cooled quite a bit recently, but im pretty sure thats just across the board market slowdown. I still get calls daily to purchase the properties I do own there. Vegas still interests me as I am close enough to make quick trips to check on things and deal with tenants should I need to. What are you into out there investment wise? 

 Thanks Roshan, Kiera mentioned the area as well and you both have good numbers. I will dig deeper into the area and add it to my list. 

 Thanks Kiera, this is good info. These are good numbers. I will do some research on the area. 

 Jian, I appreciate the response as well. Im intrigued by your answer and would love to know a bit more. Obviously not looking to tap into all your secrets, but some more valuable insight would be fantastic. 

 Thanks for the response. Im interested in this. I own a rental that is in Rhodes Ranch. How are the neighborhoods that you are buying in?? I know they demos and neighborhoods can differ greatly if you move in the wrong direction one way or another in that city. Also, if you wouldn't mind sharing im just curious about what rents you are getting, just to see how im positioned in my rentals. 

 Nice Little deals you have there, even the converted primary is working out nicely, I wouldn't scoff at that one. I may have overlooked it but do you live in Kansas City? 

 Thanks Doug, this is solid info on where to start. Especially being out west already.

 Thanks Eric! Thats what im hoping for from the community, solid advice on what city I should put my time and effort in to. Appreciate it.

 What do you consider coastal CA vs rural?? I live about 50 min from the coast and the numbers are still the same. I see you are from Summerlin, I have two rentals in Las Vegas that actually cash flow, albeit very little, but I purchased them in 2009. Are there any instances in that area that you can cash flow with the 20%??