All Forum Posts by: John Cervera

My father(who should be retiring soon) and I, are interested in getting started with flipping. He has a lot of experience as a carpenter and project manager. Neither of us has experience with Real Estate Investing. We have some cash, roughly 40k, and can probably get a HELOC as well. We would love to be able to get our first deal done with as little financing as possible(the HELOC, or friends and family, although that is definitely a plan for the future). Which of course means looking at extreme low cost older homes that need a lot of work. The work we are not afraid of. In our local area, I'm not seeing anything in that kind of price range, even in terrible condition. So far just looking at Realtor.com, redfin, movoto, and Craigslist(which is a major pain, maybe im not doing it right).

I have therefore targeted a couple towns about an hour to an hour and a half away, that i have very little familiarity with, but have been told they may be good places to start. 

At issue is, most homes I've seen so far, in the price range that fits our short term strategy, are over 100 years old, do not have AC, and need a lot of additonal work. Again the work itself not a problem. But will these homes sell? Will they sell fast enough? Will they generate enough profit to continue?

Area we are currently targeting- Minersville, Pa, Pottsville, Pa, and perhaps surrounding towns.

Couple of additional questions

Would agents actually be willing to help locate us deals at these very low price points?

Good idea to try wholesalers as well?

Appreciate any feedback

Thank you very much William and Taylor, great advice. I will begin work on those strategies

Thank you again!

Hi All!

First post, I've been doing a lot of reading and listening to podcasts, and am very eager to get started.

I do have a few, of what I consider, to be deficiencies/road blocks to getting started:

Don't have much cash(right now)

Credit isn't good

No experience(obviously)

50 years old!!

On the plus side, I'm reasonably intelligent, fast learner, and hardworking.

I believe my best avenue to longer term success will be in small multi-family, but have recently been considering that starting out with some flips may help get me over some of the obstacles i listed above

Any feedback/advice would be greatly appreciated! 

Also, I am in South Eastern Pa(Montgomery County) and would love to connect with local folk, be they flippers, rental investors, agents and everyone else! and  hear about your experiences, as well as learn of any Meetups nearby-ish.

Thanks for listening?

John