All Forum Posts by: Jonathan Wilson

Hi Brad!

Nice to connect with someone local. I grew up all around that area. I used to live right around the 369/372 intersection.

I'm just getting started myself. But there's a lot more that goes into a flip than one would think, especially if you're used to the reality shows and gurus making it sound so easy. My suggestion: Get educated first. Read the articles here on BP, forums, etc. I just bought The Book on Flipping Houses by J Scott which comes with a book on estimating rehab costs as well. So far, they're extremely informative. Also, start looking everywhere for deals. Craigslist, while you're driving, etc. Take a look at the prices, do the math, and get very familiar with things like the 70% rule (it's not an exact science, but gives you a good idea of what you should be paying for a property). Research financing options. Know where you're getting the money from, how, and the ups and downs of each option. Hope this helps at least a little. Good luck!

I was wondering if there was anyone active in the areas around Jasper and Canton, Georgia. I'm a newbie and would to connect with local investors!

Thank you both for your input! I will keep all of that in mind. I'm going to do a little more research and try to get more solid numbers. As well as solidifying funding (if you know any private lenders send them my way).

I'm currently reading everything I can find on investing and flipping (just purchased J Scott's book). At the same time, I'm looking everywhere trying to find that one deal to dive into.

I came across a home in Lithonia, Georgia listed at $55,000. It's a 4 bed, 2 bath. 2,930sf. Listing also mentions it has an unfinished "mother-in-law" suite (not sure exactly what that is).

Rehab I can tell it needs without seeing in person: probably drywall, definitely  paint and flooring, probably kitchen and bathrooms, probably cabinets.

Comps: Other properties in the area similar to size look to be selling around $100k-150.

So I guess my questions are:

Is anyone familiar with Lithonia? Is it a good area to invest?

Considering that work that needs to be done, what kind of rehab costs could I be looking at? $30k? More?

Does this sound like a good deal to continue investigating or should I move on?

Any and all help is appreciated. I'm definitely a newbie, but I'm eager to learn some lessons and get started.

Thank you in advance!

Hi,

I'm Jonathan Wilson. Currently working full-time as a Sales Assistant at a tile distributor in Alpharetta, Georgia. I'm a 30 year old husband and father of a 15 month old girl. I'm new to the Real Estate game, but eager to learn more. I'm extremely interested in getting started in Flipping and Rehabs.

I'd like to get involved as a way to make some extra money for my family and savings as well as help pay for education. But I'm very open to making Real Estate my full-time job if the opportunity arises.

I'm looking to learn more every day. I would also love to find a mentor in my area who's willing to take me under their wing and show me the ropes. I'm a hard worker who takes pride in whatever I do and strive for the highest quality in everything. I hope to get started soon and hit the ground running!

If you have any helpful tips or contacts, I'm open to any and all suggestions. Thank you for taking the time to read this.

Let's do this!

- Jonathan