All Forum Posts by: Marcee Scott

I just purchased a house in need of rehab for 68K..4 beds and 2 baths. ARV should be around 125. I should have about 100K in it totally when finished. I paid cash for the property, but plan on taking out a loan once the rehab is complete. I have a partner, so I will be actually selling the property to him. Our goal is to pull enough cash out to make up for the initial down payment.

 Does anyone rent out rooms?  The layout of this property is very nice and I can actually rent out each bedroom for around $650 per month, making the rent a total of $2600 per month.  This will be my first buy and hold property and would love some feedback.

Thanks :)

I am closing on my first flip on Monday and as this is my first flip I am looking for any advise.  I have all my contractors lined up and ready to go, just really wondering where to start?  Are there any timeline templates out there? 

Thanks

Thank you for the information  :)  I live in a rather small town and have made a few colleague requests. ... I cant seem to get enough of all the fantastic information on this site. 

Hello Everyone :)  I have worked as a Realtor full time for the past year.  My mother invested in real estate as an owner builder and selling homes...I have moved over 27 times and I am only 45.  I have purchased homes and lived in them while renovating and then would sell.  I recently found a couple who was  looking to flip properties, but did not have enough cash on their own, as I did not have enough cash on my own.  Together, we are partnering on our first flip. I just happened upon this site while looking for flipping spreadsheets.  We would like to flip this property in 3 months and continue to flip properties.  For our first flip, this property is a complete gut including a new roof, pool repair.....hopefully it will go well :)  I would eventually like to give up selling real estate and only work on managing flips and real estate investments.  I look forward to communicating and networking here.