All Forum Posts by: Johanna Rodriguez

 Hi Bruce!

Could you please send me your recommended CPA as well?

Hello Ian! 
I am a Realtor here in Dallas and would love to help answer any questions you may have, as I have also already begun my journey into investing here in the metroplex.

Hello all! 
I have been very fortunate to have found my way into a real estate team that has trained and mentored my realtor business into something I could have never imagined. Due to this momentum I do tend to work around the clock in order to best serve my clients, but now I am wondering if this is taking away from my true goal of becoming a real estate investor. I am at a point where I have the capital to begin flipping (have already flipped one property) and brrring beginning of next year but simply dont have the time to analyze deals, begin to create systems etc. 
Thank you for your time and responses in advance, any feedback would be greatly appreciated!!! 

Hello all!

My name is Johanna and I am a new investor in Dallas, TX. My husband and I are currently under contract for a lot that we plan to build a single family home on. Originally our plan was to flip but after running numbers with our GC and his extensive experience in new development we decided to go this route.

When we initially began planning and offered on the lot, states were beginning to reopen and it seemed the “new normal” would bring us somewhat closer to pre-covid. Today cases continue to rise, hospitals appears to be overwhelmed, small businesses appear to be closing left and right and we are having second thoughts as to whether we should continue or back out.

I have been researching and running numbers for several months now, funding is in place and we are ready to roll but am unsure if I am falling into analysis paralysis x10 with the current situation or if I am being realistic in thinking this could extend so far out that by the time we are complete with construction the crisis would have impacted real estate so drastically that our estimates will be irrelevant (considering we already run conservative estimates). Basically I am stuck between sticking through when investors are backing out left and right due to fear or following in their footsteps? 

@Cort Bacon yes, reading back on my post I see now he really was going to be receiving free shares. I will be offering him exclusivity in exchange for lower commission fee which now is the only deal that really makes sense. 

I will definitely be looking to partner with an investor friendly title company, something I hadn't considered previously thank you for your input!

@Melanie Johnston thank you very much for your feedback, yes I am starting to see that my ignorance/nerves of completing my first project lead me to believe that he might actually deserve a share when he only really brings a license to the table. I have decided to do this first one on my own and with the help of my GC, I believe I can be somewhat successful on the first if I run my numbers correctly.

Thank you very much for their contact information, if I am ever in the Arizona market I will definitely reach out to them as it sounds they are well in the game and where I hope to be one day in the future!

@Roger Hefner I had not considered asking for discounts being my first project, and considering (all goes well) I am at least somewhat successful I could see why they would benefit from giving me a discount in exchange for repeat business, thank you very much for your input!

@Keith Thomas no I completely understand your take and the offer is looking more the be a steal than an offer at this point, thank you very much for your feedback!

@Roger Hefner could you give a quick example of how an escrow discount would  work? He has actually not flipped before, this would also be his first which is already making me reconsider. I guess the main reason I was considering his proposition was to cover my bases as the entire process will be entirely new for me, but then again nobody is born knowing and I am willing to work diligently in order to learn quickly. 

Hello All!

I am a new investor looking to flip my first home, of which I am very excited/nervous about but ready to get going!

I met an agent awhile back who has become a friend and is very knowledgable as far as working with investors, finding good deals, running comps. etc and after I approached him with this new project (of which I will be providing 100% financing), he offered to partner with me. He will not be bringing any financing to the table, but once again has the knowledge of which I will have to go through a larger learning curve if I don't partner with him, though I truly believe I can learn eventually. He also states he could help in cutting down on wholesale fees, unnecessary title fees, commission etc. 
My question is:

1. Whether I should partner with him on my first flip or two in exchange for the knowledge and contacts he brings to the table and

2. If so, would a 50/50 split be reasonable since he wont be bringing any financing? 

I have done plenty of research, listened to hundreds of hours of BP Podcasts, and will be reading both “The Book on Estimating Rehab Costs” and “The Book on Flipping Houses” this weekend.

If I Partner with him I might learn faster in exchange for less profit or teach myself, make mistakes, and keep more profit (maybe?).