All Forum Posts by: Mike Frelund

What area are you looking in

Also I should add that driving isn't an issue for me. I live in ocean county but most of my time is spent in mercer county. So areas for me would basically be from the long beach island area, as far north as say Morristown and I'd even go west into Pennsylvania. I don't want to limit myself to one single county or anything so that id have a greater chance of finding properties.

Jd Martin my ultimate goal is to get out of my job by yesterday. But realistically that can't happen, however, the way you laid it out is perfect. So far what I've seen is you get out what you put in. If you want to make 100,000 a year it's possible, but not easy. Luckily I'm a very ambitious person and have always had the understanding that you can have anything in this world, but nothing is free and has to be worked for. I think I'm gonna build a better plan around the advice you gave and that should start to point me in the direction I'm looking to go. Drew MacDermott thanks again for the advice. My posts are pretty limited on here so far due to the fact that I've noticed basically all the questions are already around here with a simple search. I'm sure I will def be asking a lot more questions in the near future to everyone around here.

Drew MacDermott those are all questions that I would assume vary from project to project. The only constant I would be able to foresee would be my desired profit but even with unexpected problems that could fluctuate too. Part of that list that I left out would definitely be to allocate x amount of money for unseen problems.

Hey all I made a real basic outline here as to the steps I need to take in order to flip a property. I'm sure I've left a lot out but am more so wondering if I'm at least in the right direction as far as the order of the steps. I'd love to be able to find someone I could shadow for a bit to be more hands on with the process. But at the same time I still have so much to learn to even make me a new rehabber. I was told in another post to start attending rei meetings which I do plan to do as well, but again I feel I still need to learn more just to be able to have a conversation that's not wasting mine or their time. Anyways this is what I have so far, again, real green, and real basic at the moment. But any and all information good and bad is greatly appreciated. Calculate funds (find partners,loans,rehab budget, timeline etc) Analyze neighborhoods Find property and real estate agent Find contractors (I can do a lot myself but I'm sure I'll run into things I'm unable to do properly)

@Robert Lozzi I hear you, I've never really been one to go into the paid gimmicks, I'm more of a just do the work myself and figure it out along the way, I'm always interested in talking with new people so well def be having a conversation soon.

@Paul Timmins thanks for the advice, I believe the book I started reading was the beginners guide, after 5 chapters I realized how much more there is aside of just flipping houses so now I'm just going more in depth into all of it to weigh everything out. But I will be checking into those meetings as well. 

For now it's a matter of game planning and figuring out where to start and the steps to take, so that I can make sure I go down the right avenue.

Thank you both for the advice.

- Mike 

Hey all, I just recently came across this site and am amazed at the slew of information it can provide. I figured it's proper to introduce myself. I'm a thousand percent new to this. I'd love to get into real estate, originally had the idea of flipping which I'm assuming most people have thought of. But after I started reading the book I found on here of all the other options it's basically put me at a point now to where I have absolutely no idea where I'd like to start. I live in New Jersey, in Ocean county and spend most of my time near my job in mercer county. I'm an incredibly motivated person, have been providing for myself and family since I'm 14 years old (single parent household with a disabled mother) and I'm always willing to learn new things. I've worked in commercial and residential low voltage electric jobs (i.e. Security systems, home automation, home theater) I've done commercial glazing, and for a brief time did pipe fitting. I've also redone some rooms in my house. Basically I'm not too bad with my hands, not amazing, but I can handle myself fairly well. I'm hoping to learn and interact with as many people here as possible to get my ball rolling as smooth and securely as I can. Thanks!