All Forum Posts by: Joshua Julian

Hello Everyone!

Second Post outside of my introduction so I wanted to make it a bit more interesting. I will also preface the conversation by stating I am not planning to invest in the example below as I'm still working to build my capital and have a newborn. My plan is to begin next spring.

That said, I found a completely gutted home a few hours from me and gave my first attempt at analyzing the deal, estimating rehab costs, and projecting ARV. I calculated this one as a potential fix and flip and making it a 2-3 room home at a little over 900 sq ft.. I tried to estimate what a GC might cost in my calculations, but I have an uncle who does roofing and cousins with window installation and landscaping businesses, so I believe I can save some significant costs through their help and guidance.

It's worth noting that I also plan to handle as much labor as I can on my own. However, I have almost no trade skill knowledge so I'm looking at demo, cleanup, yard work, etc. type of jobs. Additionally, I have access to cabinets, doors, and other materials through trades with a friend and uncle who own 100+ doors between them, but still budgeted funds for replacements if they can't offer some. 

In summary, I am curious if this looks like a project others would take on, and I'd appreciate feedback on how I might refine my deal analysis or estimates. What did I miss or maybe have a lack of understanding on that I should research more?

P.S. I'm also making the assumption (which i would have inspected) that no "major" structural repair is required.

Home Listing

BP Fix & Flip Report

Rehab Estimate Report

Quote from @Raheem Mcmillan:

Welcome to the Bigger Pockets Community Joshua. I and my wife are just now starting our real estate journey. She just recently passed her real estate license exam. I as as business major in college decided to start a business combining our skills. My professor has an extensive RE portfolio and recommended I check out bigger pockets. Ive already been connected with an investor friendly real estate agent. Those who commented are correct. Learning and building a team is a must. Find the strategy that fits your financial goals. There is sooooo much guidance and information in here. 

Hey Raheen,

It’s awesome to hear that you and your wife are starting your real estate journey together—congrats to her on passing the real estate exam! 

I couldn’t agree more about the importance of learning and building a solid team. I’m still in the early stages, but I’ve been soaking up as much information as I can from Bigger Pockets, and it’s been incredibly helpful. Finding the right strategy to align with my financial goals is definitely my focus right now.

Wishing you both the best of luck as you move forward with your real estate business! Looking forward to staying connected and sharing experiences along the way.

Quote from @Account Closed:

Welcome Joshua. Just continue listening to BP podcasts and other people's experiences. Learn how to analyze a deal, get in contact with some wholesalers/agents and attend walkthroughs and do a "sample analysis" after showings once you get a better idea of rehab costs. Keep an eye on that house and see what it sells for a month (or months) later. Gaining connections with agents, investors, and wholesalers for off market deals is obviously a sure way to find properties under value. Once you have a great deal the lending part is easy. Feel free to reach out if you ever need anything. Don't overcomplicate it! Much like alot of things in life it's all about taking action just have to make sure its calculated actions in this space. 

Thanks for as well for the warm welcome and solid advice! I’ve recently started listening to the Rookie Investor podcast – only a few episodes in, but I’m already learning a ton. I really like your idea of attending walkthroughs and doing "sample analyses" to get a better handle on rehab costs. It seems like a great way to gain some hands-on insight and possibly start networking and working with some investor friendly agents.

Building those connections with agents, wholesalers, and other investors for off-market deals is something I know will be key moving forward. I’m excited to start putting these pieces together and taking some action. I appreciate your offer to help and may reach out as I get deeper into the process!

Thanks again for the encouragement and tips!

Quote from @Samuel Diouf:

Welcome to Bigger Pockets Joshua!

Bigger Pockets is a great place to learn and connect with fellow investors.

If you’re looking to invest long distance, I definitely recommend building your core-4 team. This team consists of an Investor Focused Agent, Lender, Contractor, and PM.

Read this article on the "core 4". It explains the team that you should develop to have a strong foundation under you while investing remotely.

https://www.biggerpockets.com/blog/core-four-real-estate-team

Thanks so much for the warm welcome Samuel and for sharing that resource! I’ve heard great things about Bigger Pockets, and I’m excited to dive in and connect with others in the real estate community. I appreciate the recommendation to build a "core-4" team. Since I’m still in the early stages and looking to invest closer to home for now, I can definitely see how having the right team in place will be crucial.

I'll check out the article you shared – thanks again for pointing me in the right direction!

Quote from @Alfath Ahmed:

Hey Josh, welcome to BP! BRRRR is definitely going to be the way to go. I went to school at Ohio State for engineering and have a minor in business and computer science. I used to work in consulting for the robotic division at DHL Supply Chain. When I was working in the corporate industry, I began investing in real estate. I house-hacked a duplex in Southern Orchards next to Nationwide Children's Hospital.

While working, I shifted my focus and started doing BRRRR projects on the side while maintaining my 9-5 job. At a certain point, I fell in love with real estate and wanted to be a part of a team that was finding the deals. I became an agent and began working with investor-focused agents.

Thank you for sharing Alfath. It sounds like I may be following in similar foot steps at first! I plan to maintain my 9-5 job as well to ensure I'm maximizing my investment funds.

I believe the only difference in your path to my planned path is my wife would kill me if we tried to house-hack into a duplex. She requires space, haha. I can say I wish I had house-hacked (or invested in general!) earlier in life before kids.

Quote from @Kerlous Tadres:

Hey Joshua, 

Welcome to BP! Let me know how I can help you get started

Glad to be here! I'm not sure where to start but I may be in touch once I figure it out, haha.

Hello everyone! I’m a Marine veteran who has spent most of my 15 year professional career post service in project management across multiple industries like aviation, hospitality, tech, and CNC machining. Over the past few years, my wife and I have worked hard to improve our financial health—we’ve raised our credit scores above 800, paid off all debt except for our mortgage and student loans, and saved a fair amount. We're planning to start investing in real estate next spring once we reach our cash-saving goal.

After some research and consideration, I believe the BRRRR strategy aligns well with our financial goals. In the meantime, I'd love some advice on what peoples suggestions are as to what they would recommend to study up on first. With the wealth of information available on BiggerPockets and numerous other sites and books, I'm not sure where to start. I know as with almost everything in life much of the learning will come from hands on experience but I want to build a the best foundation possible beforehand. Any guidance, resources, or personal book recommendations would be greatly appreciated!

I am also 100% positive I am not the first...or second...or hundredth person to ask these questions but I ask here vs. finding others posts as I do enjoy fresh opinions while I start networking.

Thank you in advance and I look forward to your suggestions!