All Forum Posts by: Mikel Garcia

Hi Everyone 

my partner and I are taking action!!! we are not ready at all, but I feel the need of doing something or we are going to fade out. we are thinking on selecting an area and go door to door. direct mailing too.

Is an scaring thought.

Any suggestions!! has anybody done this? if yes...how you did it, what to expect.

Thank you all for your support

Without BP I don't know if Ill ever considered to start this business. 

Thank you David, that's my goal, I'm not going to buy anything until I'm sure I can handle myself with a minimum of knowledge. I'm just using a house flippin project to gather all the information and to better understand the steps that I Need to follow In order of flipping a house. Anyway the more time I expend studying all the content of the biggpockets website, I have more and more questions coming in to my mind. I feel that the only way I can really learn is either with a mentor or just going for it and resolve the problems while I'm embarrassing myself making beginner mistakes. I really want to do this but I can't endanger my family's subsistence by rushing in to a failure flip that is going to cost me money that at this time can't afford. The whole point of going in to real estate is make money and invest it. I know that there is huge risk and is not easy and for that reason I want to minimize the risks.

Thanks Gary for the information!!!

Hi Olga thank you I'm in 

Roseland, NJ Essex county

Thank you very much.

Thank so much Peter, what are the implications of put it under contract? I'm under water here and looking for a way to learn and make some initial cash.

Is there anyway to erase the message?

A million thanks Marcia!! Just done it

Ok, Here is the situation, I found a property in a nice area, is a total rehab. They are asking for $199000. I believe that final price after repairs will be $300000 to $350000. Repairs seems to me will be close to $100000. My plans are 1.- is not way I will pay $199000. I have to negotiate with the realtor to low that number (a lot) the house has been sitting on the market already for 140 days, may be, the owner will be open to negotiate. 2.- I want to find a investor/ GC to flip the house to him he will be able to lower the repair costs. Is any of this makes any sense?, I'm sure not the only one who has thought about it, but I'm taking it as a learning experience. 
How I make my profit? Say for example I manage to reduce the price to $150000 and I flip it for $160000 How I get my money? 
Should I contact the agent or deal directly with the owner? I know they all are beginner questions, but if I don't ask I will never learn and that's why we are all here right? Thank you all in advance 
Mikel

Ok, Here is the situation, I found a property in a nice area, is a total rehab. They are asking for $199000. I believe that final price after repairs will be $300000 to $350000. Repairs seems to me will be close to $100000. My plans are 1.- is not way I will pay $199000. I have to negotiate with the realtor to low that number (a lot) the house has been sitting on the market already for 140 days, may be, the owner will be open to negotiate. 2.- I want to find a investor/ GC to flip the house to him he will be able to lower the repair costs. Is any of this makes any sense?, I'm sure not the only one who has thought about it, but I'm taking it as a learning experience. How I make my profit? Say for example I manage to reduce the price to $150000 and I flip it for $160000 How I get my money? Should I contact the agent or deal directly with the owner? I know they all are beginner questions, but if I don't ask I will never learn and that's why we are all here right? Thank you all in advance Mike

Wow nice Irfan Congratulations!!!