All Forum Posts by: Jendayi Brandon

@Jerry Holt - very interesting. What is your fee?

Hi All, 

I agree with @William Collins. I bid on a property - I had a limit. The property came back on the auction and I got it at my max bid amount I wanted to pay. 

Now, bidding on homes you can't inspect you have to expect the worst and pray for the best. In my case, although the home was occupied, I found the people were living in deplorable conditions. There was a lot of water damage and junk that had to be removed including some old cars in the garage. Cars form a special situation as you cannot just claim them as part of the sale. 

I had to go to court to get the tenant who I learned was "squatting" in the house. That took 4 weeks off my timeline. 

To make a long story short, I think I encountered everything that could go wrong when buying from the auction - my budget was busted, my timeline ran over, and I dealt with issues I hadn't anticipated. But I learned so much and due to the bull market, I still made a little money on the deal. 

If you want to move forward: 

1. make sure you have a contingency plan

2. you have thick skin

3. you have mentor support to lean on.

Good luck!

jen B

I have one SFR in California. She runs a bookstore. She was able to pay this month (April) on time, but I suspect that next month may not fair as well. Just praying for a miracle at this point.

@Johnathan Green - Micro-flipping is indeed "fast wholesaling". You get properties under contract and sale to a flipper without doing any of the work. 

I would like to get a better grip on my accounting for my Real Estate business. I am researching which software application would serve me better. I currently work full time and also flipping homes (one at a time). I'm wondering with accounting software might serve me better. Can you share which application you are using and why you chose it?

Thank you in advance.

~jendayi B-Sao

Hi Brenda,

Mico flipping popped up on my phone as I researched "hard money lenders". Found this info online at connectedinvestors.com...

To sum it up, Micro-flipping is fast, frictionless property flipping that is only possible with access to certain data sets.

The ‘micro’ in micro-flipping refers to the speed at which properties can be resold for a profit. A well organized micro flipper will already have buyers lined up so that they are effectively pre-sold when you contract new ones. Ideally you are in, out and paid less than a week and with less than a handful of hours invested in the deal.

The Keys To Successful Micro Flipping

1. Getting access to the data
2. Contacting the sellers
3. Shifting them to the plentiful pool of buyers out there right now
4. Keeping up your momentum

I think these guys are trying to sell a class or something but here is the link to the blog: 

https://connectedinvestors.com/blog/micro-flipping/

I am pursuing fix and flips, rental, and commercial multi-family units.

I have written up all the text but struggling with the finance piece: forecast & projection, P&L, etc.

I am writing a business plan for a funding source and need to get it out quickly (like today). Does anyone have a completed plan that you can share? 

I am more interested in the financials - ie. sales forecasts, budgets,P & L , cash flow, etc.

Thank you so much in advance...

-jendayi