All Forum Posts by: Joseph Bennett

I’ve listened to all of the podcasts and read many of the BP books, other books, listened to other podcasts and read many articles.

For those of you that are flipping successfully what books did you read to educate yourself or what other forms of education did you use to get where you are?

My wife (25) and I (26) are in Clearwater FL, we want to educate ourselves on flipping, liquidate an investment of ours and then get into it. We just bought our house and are remodeling it, we are currently selling our share of a small business and look to walk with $40-$50k. Then down the road buy up rentals and live off of the passive income.

Thanks in advance!

@Hai Loc

Thanks for the feedback Hai!

Do you have any books you recommend to read on flipping?

Backstory:

My wife and I invested in a small struggling gym 3 years ago when we were both 23, the gym is doing very well now and we are going to walk with about $50k in capital. We have doubled our investment and the risk looks like it paid off. We will lose some to capital gains taxes so we are looking to have $40-$45k available to invest.

We recently bought a house and have been doing a live in flip so in two years we can either sell tax free or turn it into a rental or just keep it as a primary residence.

My question for those of you ballers out there, how would you maximize the capital I have? Would you do flip houses to get more capital, syndicate in a bigger deal, invest in courses to learn more before doing anything, would you partner in smaller deals?

My long term goal is to reinvest capital into long term rentals and start my own rental business. Eventually acquiring small apartments and then larger apartments.

Thanks in advance for the feedback! This is the best community out there! You all are so helpful and wonderful!

@Dennis M.

So you advise having at least $10k in reserves?

@Thomas S.

But what if we are saving $2500/month on top of paying $900/month in rent right now? We could float for awhile if things went south but if something big $5k-$10k went down we'd have to put it on credit or borrow from family.

@Barron Brittingham

That's kinda my thinking, house hack a multi that won't need much Capex for awhile as we save up quickly to make more moves. We want to get out of renting asap and build equity. We don't necessarily need to hit a home run but we need to make a move and get a property, keep our expenses similar, then keep saving up $30k a year for additional moves.

@Jill F.

Yeah I use youtube for everything haha.

@Stephanie P.

*not having a tenant

I think it's because I've already put my family at big risk (it went well though) and now I'm scared to ruin my marriage and everything I've built. But at the same time I know we can do it.

@Stephanie P.

I love the encouragement. I have already invested in the gym like I said before and risked $23k and wanted to get out of renting and I've done all the research, I have a great realtor, a great mortgage broker, great people to ask for advice. But now that I'm so close to pulling the trigger I'm freezing a bit and feel like we're not ready as far as reserves go. Our income is strong and we could weather Noth having a tenant in the other side if we had to.

My wife and are in our mid twenties and looking for like-minded investors! We live in Largo Florida, 5 min from St. Petersburg and 20 min from Tampa. We haven't done any real estate deals yet but do co-own a gym with a friend. We are looking to buy and hold SFH/Multifamily properties. We love advice, hearing how others started out, and meeting other investors!