All Forum Posts by: Robert Duncan

@Emmanuel N Okafor

Your offer seems fair based on the information given. It may be the only offer, considering you haven't walked the property yet. Good luck!

@Evan Polaski

Thank you for the detailed answers to my questions. I appreciate it.

@David M. Thank you. What's the best way to reach you?

Hi everyone,

My name is Robert and I want to start a house flipping business. Ultimately I would like to buy houses single or multifamily. Rehab them, sell some and keep some of the good ones for rental property income. After doing that for some time the plan is to purchase land and build custom multifamily homes that I will hold for long term.

The problem I'm having is where should step one take place? I have read a ton of books and I feel that I have analysis paralysis at this point. My credit is okay it's not the greatest just okay, I do not have the capital to buy anything right now. Coming from a newbie standpoint I would love for some of my seasoned house flippers and real estate investors to give me the best advice as far as the proper and best steps to take in order to be successful in the next 5 years. Especially if you are just starting out.

*Sidenote I currently live in Connecticut and I've wholesaled at least 5 properties in the last 3 years.

1. What would you do?

2. How can I make this happen within the next 18 months?

3. Where can I find the funding?

Any advice and or suggestions would be greatly appreciated. Thank you to all who reply.

@Qujan Garcia one of my favorite books is how to win friends and influence people

@Robert Duncan just remember to focus on the business not the money and solve someone's problem. You'll do great!

@Stephen Morton hardest part is networking with success driven people easiest is finding opportunities.

@Mitchell Parker check out max maxwell on youtube. Videos are simple and offer a ton of info. Start from the oldest video to current

Lets jump right in. So I have wholesaled some deals here in Connecticut (Hartford Area) and I've come across a vacant 6 unit building with (two 3 bedrooms & four 2 bedroom apartments) it has been empty for almost 10 years now. The owner owes around 49k in back taxes and 10k in City liens. The potential is tremendous. The property needs everything (Top to Bottom) estimated repair cost is around 150k. Everything has been removed except the framing. 

Now the owner doesn't need to sell, he wants to sell. I would like to take this property down myself and Keep it as a rental property, but I don't know what my next move should be. The owner wants 140K, I offered him 65k for it considering it needs a ton of work. 

Any ideas would be greatly appreciated  

Great post.