All Forum Posts by: Donna Ragan

Makes sense.  I appreciate that advice.  None of this will b worth it if it isn't done right.  

Thank you everyone for your input.  

I'm very handy and can make cabinets fit.  I know I have more than enough flooring for this flip.  I figure if I don't have the correct material or amount, I have no issue paying the contractor for what is needed.  I don't want to use shabby materials.  

Thanks for your input.  

Hi everyone,

I just purchased my first fix-n-flip and am looking for some advice on saving $$$ and hassle.

Scenario 1:  Partner with a contractor (consists of 2 people) to save on building and split profits (split would be 4 ways because I am partnering with my sister)

Scenario 2:  Hire a few contractors (having a 'contractors bidding open house' this Saturday) to get multiple items done simultaneously and supply majority of materials myself.  I already have all the wood flooring, tile, kitchen cabinets, kitchen appliances and misc.  stuff.  I love auctions!!!

I am leaning toward scenario 2, but would love advice from more experienced flippers.  

I paid $22K for the flip and plan on listing for $75K-$92K. 

I have spoken with Ramon Huerta, he is awesome!  

Hi Roxanna,

I am working on my first fix and flip.  I am a huge DIY type person but understand my limitations.  How I work with contractors is:

I provide most of the materials (auctions, craigslist, scratch/dent, etc..) for them to install

I have a very specific timeline for each contractor (I use more than one to get it done quicker)

By providing the materials, it saves me thousands and thousands of dollars.  More investors need to get skin in the game besides just the mortgage and invoices.  

I think the biggest help, is the nicely chilled wine that I know is waiting for me at the end of the day.  :-)

Hi Mark,

I just purchased my first flip (close on December 12) and am now in the reality/excited/scared phase.  I think more excited than scared.  I'm interested in crowdfunding and working with an investor minded realtor.  My current realtor is more buy and hold focused and that is down the line for me. 

PM me if you'd like to meet up for a coffee or something.

Donna

I just purchased my first fix/flip.  Found out yesterday I submitted highest/best bid.  I received the "Counter Offer/Addendum" form and am not wanting to initial one of the areas.  Does anyone know how long I have before having to return this document signed and/or how long I have before supplying the earnest money (I'm doing a cash buy on the home)?

That's awesome!!!  What area did you get it in?  

Donna

Thank you everyone for your input.  I am not comfortable with the unknown, but less comfortable with paycheck to paycheck!  

Hi,

Does anyone have a real estate investing/rehab partnership contract or template they would be willing to share?  I am going into a partnership with a building team where I buy the house and  they do the rehab.  At time of sale, we make ourselves whole and split leftover as profit.  

This is my first partnership and I want to protect myself.  I am having them put $10K in a shared escrow account as a safeguard which they will get back after the rehab is finished.  

Thank you ahead of time.