All Forum Posts by: Dina Fantegrossi

Thanks so much for all the input! 

@Cal C.  I agree that the investor is definitely making out on the deal!  My husband agreed to the arrangement at first because he wanted to break into flipping without having to put in our own capital.  Now that we are moving forward with additional projects, I think we definitely need to revamp the terms!  I appreciate hearing from an investor that based on our commitment we deserve more.

@Derreck Wells  I am going to force my husband to read your comments!  You have the experience we lack at this point and we can really learn from you!  I LOVE the idea of paying by the day and having his name on the deed to build flipping cred.  He will be the GC of all upcoming projects, so having him on the deed is a great idea!

@J Scott @Bill Gulley   The project we are currently working on together has the buyer agreement in place but my husband has not had her sign the seller agreement yet...I will be pushing HARD for this to happen ASAP!  In the future, I will make sure he gets the exclusive agreement signed up front!  J Scott, I agree that the investor should be the one pushing for a contract!  I know they have formed a good rapport but business is business and we all know things can get ugly quickly.  

Hi there!

I am hoping some more experienced flippers and/or investors can help me out on this.  My husband and I have an out of town investor who completely funds our flips.  We select the homes, attend the auctions, do much of the work ourselves and oversee the rest.  So far our compensation has been the sales commission at both ends of the deal ( we are real estate agents) and hourly pay for the work.  Since we have no capital of our own I feel like this is fair, and I know the investor is trusting us, but we have nothing in writing.  If she were to decide to use another agent OR simply not pay for the work, we would be SOL since there is no contract.  My husband is afraid to offend her by asking for an agreement in writing.  Please weigh in, I'm open to all advice!  We'd love to get to the point where we don't need investors, but until then I'd appreciate having some protection for the work we have put in!

Hi Greg!

When you are first getting started estimating reno costs can be very difficult, because you probably haven't established many relationships with local contractors.  As @Micki M. said, walking through with your project manager is a good idea, but definitely start trying to form relationships with painters, roofers, flooring installers, etc ASAP!  If you use them frequently, they are more likely to work within your set budget and keep your labor costs down.  Also, connect with other rehabbers in your area to find out where they purchase their supplies for the lowest costs.  Develop relationships with these suppliers as well.  If you are loyal to them, they will reward you with lower costs!

Thanks Chris, I will do that!

 Hmmm...  I'm not sure if the rules allow this either, but you can email me at [email protected]

@Tenzin Yangzom 

Thanks for reaching out!  We would LOVE to help you find a vacation home!  Unlike many, we have been in the Myrtle Beach area for nearly 20 years and know the best areas to buy in.  If  you are looking for a bargain, we go to the foreclosure auction each month and could send you the properties that will be coming up for February.  Our company currently manages long term rentals only, but we are considering adding back our vacation rental services.  Let's set up a time to talk next week.

Hi!  My name is Dina and my husband, Don and I are Real Estate Agents and Flippers in the Myrtle Beach, SC area.  We're hoping to meet trustworthy investors and contractors in our area that we can do business with!