All Forum Posts by: John Echele

Thanks Ruth! The great thing about cars is there's hundreds of deals every day. Being an ex auto mechanic I can spot a deal pretty easy. From what it sounds like houses are the same for experienced investors. I just haven't learned what to look for yet. But I'm working on my RE license so I'm hoping that will help.

Hello, new guy here.

I just read several books about real estate investing, and I am ready to start something NOW! The biggest problem is that I still have no idea what I am doing. What I do have have is 2 ASE master certifications, a really nice set of tools, and $500. So I bought a car for $400, put a new head gasket in it and sold it a few days later for $1000. My goal is keep this going and to keep scaling up until I have enough for down payment on a flip house. Has anyone else started out a similar way? If so do you think starting out with something smaller helped you with your first deal.

Thank you all! 

That is some really useful information. I definitely have a few things to consider. I might start looking for houses on higher ground. 

Hello BP,

I am just starting out and trying to find my first flip house near Pacific, MO. What I have found a lot of is houses that have been flooded for sale for very cheap. Mostly small single family homes around $15,000 and even a few duplexes around $25,000. Most of these houses were abandoned after two major floods in 2015 and 2017. What interests me is that several houses have been raised above flood level and rehabbed. A local contractor gave me a rough estimate of $35,000 to raise a small house above flood level based on similar jobs in the area. Has anyone ever raised a house for a flip? What kind of problems come with flooded houses?