All Forum Posts by: Melixa Rivera-Sustache

@Lisa Eckman

Hello!..and Thank you!

Its crucial to have a good team/contractor. Trust in your team its a must. Have a good contract in place to protect yourself and make sure they are performing on time and withing the budget--add stipulations such as $50 will be discounted for every day is over...etc. Make sure you have a realistic timeline and budget. Shop around so you can have facts when making decisions.

In regards to the property, be aware of the age of the house and potential damages could have "underneath the coat". We had some uncalled electrical and plumbing issues were not visible at the moment of purchase and it cost us a lot of money. Inspecting the house its a must, so you can feel more comfortable with what you are getting.

Have your exit strategies ready. Make sure you account for worst case scenario and how you would act on it.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $120,000
Cash invested: $40,000
Sale price: $185,000

First full Flip project managing/running "solo". A lot of headaches but worth every single one of them. I made some many new connections and team members. Plus all the players involved (including private money lenders) were very pleased with the results and my performance.

Hello Ryan!

Welcome! This is a great platform.

Maybe we can grab some coffee and chat.

~Melixa