All Forum Posts by: Katherine Earle

In my search for a team, I have come across someone who is an experienced flipper on a part time basis (1-2 flips/year). I am considering asking her to partner up with me so I can have someone oversee my first flip while I am not there since I live out of state for the time being (my area is out of reach for me at this point). I could fund the deal if she could be my project manager with my realtor being her daughter-in-law and son being the GC. Do I suggest a 50/50 split to her as the project manager, with her son and daughter-in-law getting typical wages and commissions?

I definitely agree with  all of the comments which is why I am going to MI in June for an extended stay and partnering up with someone who is an experienced flipper while I oversee the project and we split the profits. I'm not scared of risk (and no, the money Im risking would not mean we go hungry), but I'm also not interested in throwing money away either. Thanks for the input!!

I just got the bigger pockets books on analyzing rehab costs along with their book on flipping and they both are great! I can see reading them several times through my first few deals....

I feel ya on your predicament. I can't say I don't disagree with the pp though. My first steps while I read as much as I can and network with other investors is fixing my financial issues, build up my credit a bit and set up a strong foundation first and foremost. When you find yourself on the right path, the rest will fall into place. Good luck!

Ok....I have been desperately trying to figure out how to jump it to this game without getting wet when I just decided to dive right in head first with all of my clothes on! I don't have enough money or good enough credit to buy a house out in norcal, but I do in MI where my hubby was born. I just booked a flight out there in 6 weeks for 10 days where I want to do my first flip! I am putting together a team as we speak and trying to stratagize my plan of attack to make my time most efficient while I am out there. Any tips on analyzing a new market and making offers/ landing a deal quickly? If I can find a property, I will probably just stay in MI for the duration of the rehab (for the record).....

I am looking for a SFH at 70-80% FMV that I can flip fairly quickly (no major rehabs at this point until I find a solid partner). Thanks!

I love that thought of making a real difference in a bad neighborhood! I am new to the game and looking out-of-state for my first deals. I can't imagine trying to build a community unless I can live near it, but I may find myself moving out of California once I start flipping my first few properties. Good luck and I look forward to seeing your updates!

Actually I am looking into going out-of-state for my BRRR deals and looking into doing Sub2 deals with wrap-around mortgages and wholesales in my local market.

As far as out-of-state areas, I am looking for partners in spots where those numbers could be achievable like MI or Chicago.

Actually I am looking into going out-of-state for my BRRR deals and looking into doing Sub2 deals with wrap-around mortgages and wholesales in my local market.

I was thinking along the same lines, as far as doing similar research and vetting for the team and properties as I would locally.  I see so many people doing part time investing while they hold another job. So, I figured hand holding their crew wouldn't be possible.  For me, it is the difference between buying a property now and learning through personal experience and find a more experienced partner after I have a couple flips under my belt or dedicating my time towards finding a mentor to hang out with and potentially help find deals for them while I save for a bigger down and bring up my credit a bit.  Has anyone started out investing with their first deal being done remotely?  Any tips on remote market research?  I have read up on it a bit and seen some stuff on youtube, but it would be nice to hear from current investors.