All Forum Posts by: Kathleen Alonso

@Aseel Yerunkar

Thank you for that information!

The property purchase price is 65k with an ARV of 150k. Our estimated expenses are coming to 25-30k at most. Seems like a safe margin for error! It's a 3 bed 2 bath so I'm hoping our expenses remain on the low end as the main focus will be restrooms and kitchen. Im also purchasing with private lender which we're waiting on the rate of interest we'll be paying on. My biggest fear right now is paying more than I need to. Obviously being my first flip I understand my rate will be on the higher end. Do you have any tips on dealing and managing your funding?

Came across a property with some good numbers on paper that seemed like a good flip to invest in. I remodeled an older property for a rental and got the basic understanding of construction work. This property I came across is mostly updating kitchen and restrooms. It has some termite damage to a few walls (which has been treated) so changing drywall and maybe some wood is what we’re looking at. I’ve heard most newbies underestimate expenses and tend to eat up their profit. I’ve also heard some good and bad on first time flips and some even telling me to hold off. Any advice from those that have more experience in the game? I grew up helping my father work on his rentals and then inherited a property when he passed which I’ve been maintaining. I got the real estate bug over a year ago and started up my wholesaling business just this year. I’ll be partnering with another investor who’s also a newbie in the game. We’re pretty confident we can make this flip work.