All Forum Posts by: Eric DeVito

Hello all, I have been doing a lot of research and decided to play around with the Fix and Flip calculator. Let's just say I am very lost in terms of plugging in the correct numbers. How do I determine what the monthly expenses will be for the homes I am looking at in my target market? Do I have to google what that area average monthly expense is for example water, gas, sewer, etc.. each month? Also, how do I figure out the closing cost and contractor cost and then finally come up with a ARV? Also rehab cost? I know it is very important to figure out all these numbers, but how do I begin to do that when I am brand new? Thank you

Derrick, thank you for the tip. My question though is if I have 50,000 cash and I want to buy a home to flip and that home cost 50,000 should I just pay it off in one shot and flip it or just put down as you said 25-30% and then flip?

thank you Nathan. I am brand new to investing so I only want to start off with 1 project flip for now. Baby steps. So how much would I have to put down if I'm just working on 1 flip? Can I just put down 25-30% or close to full amount of cash.

Thank you Brett.

Hello all, just a quick question. I have been researching the different methods of finance and still the most appealing to me is just using my own money from savings. I would like to know how much money is the normal amount to put down when flipping a home? I understand it varies on cost of the home so for example lets just say the home I want to purchase is 50,000. Now I have over 50,000 in savings, but when purchasing a home to FLIP is it pointless to pay it off full in cash just to flip and sell or should I just put down around 20-25% in cash and just flip and sell that way. Thank you

Thank you John, your advice helped greatly. I am still confused on the "comps". Exactly what does that mean. Also what is the best/easiest way to go about figuring out the "ARV"?

Hello all, new here to the investing world. I have been doing so much research and taking notes my head feels like its going to explode. Anyway my question is say I do my research on various realtor sites and I find a home of interest. Once I find that home of interest what would the following steps be? Go see the house in person? When do you hire contractors or inspectors all those type of things? I am just confused on the order of when to do things. Thanks.  

P.S. - I am interested in buying a home - rehab and selling for profit (Flipping).

Thank you for the heads up Raymond.

thank you for the advice/tip. I will continue to look into it. Philly does seem interesting.

I ordered the J Scott book last night.

I have zero experience in regards to investing in real estate, but I am highly motivated and want to learn as much as I can. Flipping a house for profit is my goal.