Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

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

Nick E.Posted
  • 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

Nick E.Posted
  • 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

Nick E.Posted
  • 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?