All Forum Posts by: Joshua Chen

What is an A neighborhood, versus a B neighborhood, versus a C neighborhood, versus a D neighborhood? What are some qualities you can look at to distinguish between them? What are the implications of flipping/renting in each?

I originally thought about buy and hold, but then considered the possibility of flip for sometime to generate capital to work with. I still keep flipping in mind as an option, but I think I'll stick to the plan of buy and hold. With buy and hold, there isn't as much pressure from holding costs, there is more ease of getting low-down loans like FHA or 203k, and there is creation of equity. Plus, my Oklahoma real estate agent tells me that rentals are more feasible than flips due to the competitive market we're working with and my relative lack of experience as a first-time investor, especially as one out-of-state. I plan to avoid failure as much as possible too, but I mean things will not always go according to plan, which is why I think it's good to keep failure in mind as a possibility. "Failure" to me would mean either negative cashflow (for a rental) or taking a loss on property instead of profit (for a flip).

Thanks for the responses all!

@Zach Sikes Thanks for all your help in investigating the OK markets with me! I'm still looking into those lists of rental properties you send me.

Are the consequences of financing a no money down deal and failing worse than the consequences of financing a deal with some of your own cash on the table and failing, as a first-timer?

Would it be possible to pull off an out-of-state flip as a first-timer in real estate deals? What would be the likeliness of success? Does anyone have a story relating to this? And to be more specific, I am at Riverside, California, likely to look into Oklahoma, Midwest City as my market

Is MyHouseDeals.com a trustworthy and reliable site?

Hey J Scott! I read your "The Book on Flipping Houses" !

For experienced flippers, what do you consider to be your acceptable profit margin?

What are some effective methods to familiarize oneself with the market of an area?

How do you know when you've gotten an appropriate amount of real estate education and it's time to take action?