All Forum Posts by: Genera Tiffany

@Account Closed stated some money is much better than a loss

I am starting my first flip in Atlanta next month. However my family is in st louis, and the market here is suppose to boom(if not already booming).  After the success of my first flip in Atlanta me and couple investors will purchase 2-3 houses next. I am starting to check out open houses as well just to see the work that's being done on the finishes and rehabs from other investors.  The reason I chose not to start investing in St louis first is because I did not know enough credible companies here that are successfully making it happen.  

What I am looking for is to network with realtors in the area that are moving and shaking. Also need any suggestions on Bonafide contractors(I am not looking for 2 guys and a hammer lol), title companies etc? We are currently only looking to do flips buy and sale, no buy and hold properties and no rentals for now.

Or would be willing to JV with a company already making it happen in the market.

http://fortune.com/2015/12/03/best-real-estate-mar...

We can spend time in looking in all the wrong places, or we can take our concern and questions to Biggerpockets and let the real networking begin :)

@Paul Timmins   Thank you  for your insightful advice I will go on there and do some homework :)

@Percy N. Thank you for the greeting, you are correct its alot of money laundering there. They typically buy homes, apartments and some even purchase hotels to clean their illicit funds. I am only going through investors I know personally and the others would go through a local company I am pairing with.  For starters I am only approaching this on a typical investment from their end of 40,000-50,000 usd or so to cover downpayment, closing cost, and expenses until the sale of the property closes for the flip. Eventually after a few success flips I am sure I will be more convincing on other types of property and look forward to turning more properties per month. I rather start off one home at the time then build up.  One of my clients now family owns a major mall in Saudi Arabia, he is venturing out wanting to invest in the states but never had a proper team to do so. 

@Paul Timmins that is a lovely idea I thought of even conducting a seminar in Dubai that will lead investors from the region to the USA. I have a couple friends that own real estate companies there and I know several guys who own construction companies.  The lack of their knowledge on the usa market is what will be the most time consuming, I have to find ways to educate them on the system here.

Cheers 

My name is Genera Moore, have been living in Dubai for the past several years. The real estate market sucks there never got involved in it but I surely wish I had the knowledge while living there about the real estate back home in America. What fascinated me was the fact I've worked with franchisors on bringing their brands to Dubai with local investment. In this experience I found a true love sitting with fit out companies discussing options and design firms that create 5 star hotels learning what I could.

Now that I am back in the states I am hitting the ground running with a wee bit of cold feet, I've decided to team up with people I know and trust who have extensive experience in flipping houses.

At this moment I have no solid interest in rental property, flipping houses and eventually moving to commercial real estate. I want to go from part time to all the time in this business. I learn quickly but even more so I'll learn even faster with my own money involved :) 

Currently am working with foreign investors to give them returns on properties we take on board.  I do love BP for its knowledgeable and newbie community. It's an interesting site indeed that proves to anyone this is a lucrative business. I am looking to network and investment opportunities so feel free to reach out.

Hi James

Thank you for the reply, let me clarify my friend isnt a HML, she runs a real estate company that finds the property 3%, if we use her contractors if the budget is under 15k we pay them 2500 and over 16k we pay 5k for their work. The 6% is the realtor fee she charges for selling the property for us. I need to utilize her experience to ensure our first set of flips are a success.

My client is investing the down payment and upfront fees that we will incur, the rest of the amount for the property I will finance and have the rehab financed as well.

Greetings everyone reading

I am brand new to real estate investing. I currently have a couple liquid foreign investors who's providing me money down on flips. I've decided to work with a friend who's been in the business for over a decade and very trust worthy.

My setup is investor puts in cash for down payment and upfront fees that we will incur . I will finance the rest of the flip and rehab. My friend with the experience will charge the below . Their company has contractors they utilize on a weekly basis for current deals.

• Their fee 3% commission on the sale when purchasing.
• 6% commission when we sale.
• 5k for rehab jobs 16k and over
• 2500 for rehab jobs 15k and under - misc $1000 buffer 2500 still applies

My question is are the above fees too high or is it normal? We intend on maintaining multiple deals if the first flip is time worthy for us in terms of roi per flip . Please offer any advice you can or negotiation tactics that I can counter offer to my friend's company. I know some of you will say well why don't you just save money and learn to do it yourself, that is my plan but I rather learn as much as I can now with utilizing my friend's veteran experience. In the future eventually fly on my own :)