All Forum Posts by: Matt Quinney

@Steve Rozenberg I think I have a bit of a fear of starting because I don't want to fail so I haven't done what you've said about finding out my destination so I can map the journey.

@Kenneth Williams thanks. I need to really just engage with the tools here more so it doesn't feel so overwhelming. One bite a day of the elephant right?

I've been on BP for a few months now and ever since Brandon did the Order of Man podcast, I've been consuming new and old BP as well as BP Business. I've been around real estate, mostly in commercial lending and now commercial title sales and wished I had started when I was younger, but in the past 6 months, I've gotten really into learning about this so I can protect my family from future financial devastations; much like when I got let go after 17 years of service to my previous employer.

I feel like I'm drinking from a firehose and would appreciate any direction for a newbie getting stuck in a little bit of analysis paralysis with a fair amount a fear to fail.

Matt

I've started building my reading list about getting started both in investing and flipping as well as starting a business. What's your first book a newbie should read recommendation?

Matt

@Antonio Cucciniello that's what I was thinking. I thought the expected possible rent was too high and it wouldn't be enough.

Thanks

I'm working on acquiring my first property soon (hopefully) for a steep discount that I think I will flip rather than hold. Is there a checklist of what to look for before buying? What about for the rehab? Are there some good apps out there for managing this process? I hear the ads on the podcast talking about apps for managing rentals and such, but nothing specific to the flip side of the business. Any help would be appreciated. TIA.

Matt

@Antonio Cucciniello its interesting you point this out. I ran potential numbers on the calculators for BRRRR and flip, and I'm sure I got some estimates wrong but overall it made more sense to flip. Getting full AVR value on the refi made it so I wouldn't be cash flow positive for five years. Is that topical? I was just at the 70% rule for my estimated offer plus rehab.

@Antonio Cucciniello so please explain the difference in the two strategies. In fix and flip I buy, rehab, sell and repeat. In BRRRR I rehab, rent, refi, and repeat. So other than the two components of holding is there a difference I'm missing? I sound awfully naive now; I thought I had a handle in this.

@Antonio Cucciniello interesting. Now I need some more input. Thanks.

Thanks AJ. It really is where I'm leaning; I just didn't realize until recently that it was as easy as this.