All Forum Posts by: Jordan M.

okay, with that thought in mind, my idea was to use flips to put down payments on apartment complexes. The goal is to create $5k a month passively in 2-5 years. Assuming I am able to find deals consistently do you think your method is still ideal?


 

I definitely understand what you mean (even though I don't have a buy and hold yet). Problem is I'm starting with low capital so I'm wanting to use the profits for my buy and hold MFH. I guess BRRRR could be an option if the #'s work?

Salina! I have a good friend who’s a realtor in Wichita, and from what he’s saying it’s just like every other market right now! Houses are selling like crazy! 

Hey everyone! I am in the process of closing on my first flip! My partner and I could not be more excited! 

I would love to engage in a discussion with anyone who has flipped houses, and how your experience has been? Do you still currently flip houses? If not how come? What has been your biggest challenge? How many houses a year do you flip? What would you recommend to someone who’s going to be on their first/ first couple flips?

My goal is pretty common with other start up investors, flip houses to gain capital for buy and holds, and whatever else the future has for me! 

I look forward to hearing from you all!

Awesome thank you! Right not the HML is guessing I'll be around 8-11% interest with 2-3 points for each lender and broker. Is this typical/reasonable?

Hey everyone! I was curious to see if anyone has used a HML on their first or first couple flips? How did that experience go? My partner and I have enough for the down payment on a flip, but we're wondering if we are better off using a HML vs traditional financing.

Thank you all in advance !

Nice! How many flips have you done? 

 Awesome! Did you use the same contractor for all your flips? How did you go about choosing the right one

Hey everyone! This is a topic I have always been curious about and wanted to engage a conversation with the BP community!

If you are involved in flips, why do you choose those over new constructions? Vice versa why do you choose new construction over flips? 

I feel like with flips, you could typically have a shorter timeline, and can maybe get into a property for cheaper. Where as new construction the timeline may be a little longer, and you may need to have a bigger down payment? However with new construction you’re eliminating some headaches by being able to just build the house exactly how you want it, and not having to wonder if you can bring down a certain wall in a flip. 

What’s your thoughts/reasoning for going with one over the other, or doing both!

I second what @Ken Nyczaj said! Driving for dollars would be a great way to get started finding deals!