All Forum Posts by: Nick E.
Nick E. has started 1 posts and replied 3 times.
Post: Little Rock, AR Out of State Investor Deal Break Down
- Flipper/Rehabber
- California
- Posts 3
- Votes 0
Hello! I just posted about the desire for a small partnership just like this. I'd love to hear how this partner found you and how I might go about finding someone like you. I have cash, experience, and am very mobile 6 months out of the year. Good luck!!
Post: Partnership Desired BRRRR
- Flipper/Rehabber
- California
- Posts 3
- Votes 0
Originally posted by @Jaspreet Baveja:
@Nick E. - cool approach! If you're done in July and want to harvest/make wine during July - Dec... Not sure it makes sense to have a deal in the pipeline. I would use this time to network, build rapport, investigate any possible investor/ partner, let them get comfortable with your track record, pick markets, build/leverage connections to start building a team (realtor/broker, GC, handymen, etc), draft legal agreements and bank accounts etc and then be ready to move as soon as you're free in Dec / Jan. Just my $.02! Best of luck. After successful and not so successful flips out of state, I can tell you that the TEAM in place is KEY to success, even with a reliable Project Manager... (you - in this case it seems like)
Thank you very much for the great advice! I was hopeful to find a deal before December but your points about building the network and such is very valid. I can continue working locally until then. Heck, I still don't know what state to choose and most likely need an experienced partner. Are you familiar with Brokers who handle distressed property? I have no experience there and typically find my flips on MLS. I'm thinking a Broker might be a good avenue to find a property for the first time in a different state.
I do have a contractor friend who would be interested in hitting the road with me if we find some deals so I'm not sure I need an actual partner, just a solid lead on growing areas in affordable places. I feel my best bet would be to pick a city or county and camp/stay there for a couple weeks looking at places and waiting for leads to pop up on MLS. Then I could put eyes on the property and get a good feel for the neighborhoods that I"m investing in. I'd be easily mobile so I could hop to different areas once they pop up. Any further advice would be greatly appreciated!
Post: Partnership Desired BRRRR
- Flipper/Rehabber
- California
- Posts 3
- Votes 0
Hello,
I'm looking to invest in out of state MF properties with an experienced partner, possibly utilizing the BRRRR method.
I bring to the table $250k+, a lifetime of general construction experience with tools, the ability to supervise and live near the project until completion (I own a truck camper). I own a small winery in California and have so for the last 10 years which allows me some freedom outside of the winemaking season. I grew up working for a family of contractors, I would have been the 4th generation.
I would like to diversify through MF units that are out of state focusing on 2-3 properties per year. I’m willing to travel anywhere that is safe and profitable. My schedule is open December through July every year. The other months I will be back home producing wine.
Ideally we would hold the properties for long term and gain passive income unless we agreed otherwise.
I currently lack the ability to assess the potential of properties well and would hope learn from said partner.
I’m currently flipping a home with a partner in my local area with a resale value of $1mm. We expect to be completed within 2 months at which I would like to already have a deal in the pipeline.
How might one go about finding an experienced partner?