All Forum Posts by: Josh Dubin

So please excuse this being such a rudimentary question. But I'm looking to getting into flipping. It's safe to say that one of the most valuable skills a real estate investor can have is not only finding, but recognizing a good deal. How do I know there's a good deal in front of me, without actually getting the house appraised? Surely, I have to be able to quickly sift through dozens of houses to know which are worth looking into more. Am I supposed to look at comps, use Zillow etc? And then, approximately how much cheaper should I be trying to get a house for than what it is estimated to be valued at for the deal to be worth it? 

Hi guys,

So, I'm looking to purchase my first home with the intentions of flipping it. I need the highest LTV possible, as I have little saved up. Hard money loan programs seem to be ideal for flipping as they are asset-based, however, have a lower average LTV than the 96.5% seen with an FHA. My question is this, and please forgive me if it's a silly one but, can I choose to pay off the FHA loan in ~6mo, once the flip is completed, or must it be paid off over the full 30 years? If so, it would make sense for me to go that route, right?

I found this article on the matter but am having a tough time interpreting it due to my rudimentary understanding of things. 

https://www.ovmfinancial.com/fha-flipping-rule/

@Account Closed pretty much suggested the same thing. But again, not sure if attempting to build some capital directly first. 

So I'm 22 years old, just graduated college with a degree in Mechanical Engineering, and looking to get into real estate investing. I have 30k in the bank, and will be getting a job very soon making hopefully at least $55k. 

I would like to know which strategy I should I plan to pursue, so I can begin educating myself in the right direction. I'd like to think that I can somehow get a loan to fund my first deal, whether it be a bank loan or a personal loan. I know that typically, you need at least two years of work experience but I've read that simply having proof of work is sometimes all you need. 

That said, should I look for foreclosures? What about homes that are simply a really good deal, that can be flipped without renovations? Should I pursue flipping? Will that even be feasible for me? One option I've been considering is the house-hack strategy. It's appealing to me because you get to live nearly for free, but even more so unappealing because it won't generate any profit. The house hack essentially falls under the category of a buy and hold, which IMO (correct me if I'm wrong), is best suited for when you have significant capital to invest. Because once I use the money I have in the bank for a down payment, it's essentially gone. I have no means of making another down payment for another deal until I somehow accumulate significant savings from my job. That's why I'm really gravitating towards a strategy that I can flip the cash I have now into more, relatively quickly, to fund bigger and larger deals. And then in due time, I will take on a buy and hold strategy. So with that said, I would love your guys' help and opinions. 

Thanks!

Josh

Hello everybody, my name is Josh, I'm 22 and I'm interested in getting into real estate. 

Goodness, I have so many questions, I don't know where to start, but I guess I will here. I believe that the best way to start out is to flip, in order to generate some capital, in order to fund more lucrative buy and hold deals in the future. If you disagree, please correct me if I'm wrong, because this is most important first step; choosing which path to take. 

However, under that assumption that flipping is the right path for me, I have some concerns. I'm sure this main concern I have has been discussed time and time again, so please forgive me. That said, If I go that route, I have no vision on investing sweat equity; that is, doing the rehab work myself. Not because I'm lazy, but because I'm not a carpenter and I feel like the time could be used more effectively, even if it means cutting into my profits by hiring a contractor. I figured that surely, I can't be the only one who hires a contractor to do the work. 

But after doing a bit of reading, I'm skeptical, and I wonder, will hiring a contractor to do all the work make flipping not worth it? I know "worth it" is subjective but to put to put it into perspective, would you be able to give average profit percentages for contracting vs sweat equity? 

I have many , many more questions, but I'll start here. This marks the commencement of my embarkment on a quest for knowledge about real estate investing. 

Thanks!