All Forum Posts by: Jasmine B.

@Trey Watson Thanks Trey for your feedback. $2,700 is the amount I'd pay at closing if I sell it. $2,100 would be the rent. It's a 3200 sq ft 4bd with study & pool. All new everything.  

And yes I'm hoping for a $21K profit but I'm telling myself $15k incase I have to hold it another month, the rehab goes over budget, or I have to pay Buyers closing cost, etc 

ARV: $269,000

I have a GC who will start on Thursday and be done in 3 weeks. He's only working on my property.

Also, for me personally $15k is great for my first deal. All of my calculators are showing a profit of $21k but I like to be conservative and I'm assuming something will go wrong.

@Don Nelson 

Situation:  I purchased my first flip 2 weeks ago in the (Houston) Spring, Texas area. The numbers are below. I need some advice. Would you Flip or Hold in order to rent it out? (I used a hard money lender so I'd definitely re-fi if I decide to hold). My loan was in the amount of $188k @ 13% ($39k in Escrow for repairs) 

I stand to make $15k conservatively in profit if I flip. If I hold, I will have a great amount of equity and monthly cash flow.

Flip Numbers

Appraisal: $269,000

Acquisition Cost: 169,000

Repairs: 39,000

Holding Period: 3 months conservatively

Closing Cost at Sell for Retail: $2700

Rental Comps for the area are $2,100

Any other numbers you need to answer this question let me know :-) 

Thanks!

Manuel it can definitely be done. 

1.Start by going to Meet Up groups and networking functions. Download the Meet up app and connect with Seasoned Real Estate Professionals. You need local guidance and support.

2. Begin establishing credit. There's multiple ways, google it and choose the best way that works for you.

3. SAVE, SAVE, SAVE. Have 3-4 months worth of living expenses in the bank before you invest into anything.

4. Educate yourself. Decide what area of real estate you want to participate in. Listen to Bigger Pockets Podcast on your phone!

You are not too young at all! I started at 21. (Of course I had a full-time job with a great salary, great credit and access to people within the industry.) 

Best of Luck!

therealestatetrainingacademy.com

Airbnb! Vrbo! The returns are astonishing!

Looking to interview a few real estate agents in Spring, Texas (Houston area). Need one ASAP. In progress of a flip that needs to be listed by May 6th. Shoot me your email, reply to this post, comment a referral. Thanks, Jasmine Jb @ bailey property grp . Com

Greetings, I'm looking to start wholesaling in Houston. I'm originally from Dallas & I've done a few transactions there. I'm currently working on a flip here in the Houston area. Feel free to reply with contractor contacts, hard money lenders, realtors, etc. I'm looking to establish a network of professionals. Any events I can attend? Thanks, Jasmine