All Forum Posts by: Philip Feinstein

@John Warren that’s excellent that your flip allowed you to partner up and invest in 29 units, that’s absolutely something to be proud of!

There really are so many ways to achieve financial success through real estate, as most have said, you just have to decide on where you want to start and “just do it”. I am typically a risk taker and it usually ends up working out, this one is a little tough given I have a wife and two young kids. That being said, I’m still willing to take that risk with the same mind set as all other risks I’ve taken… “it’s uncomfortable but there’s no plan A, fail forward and conquer it”.

I really do appreciate everyone’s words of wisdom and appreciate the BP community. It’s refreshing to know there are lots of knowledgeable people out there that are willing to help build others up and push them to achieve their goals.

@Michael K. I really do enjoy rehabbing/remodeling homes, something about that vision that many cannot see until you bring it to life. I was thinking too, buy a home, flip it, Increase capital, use that to purchase rentals for the cash flow. I’d really like to wholesale but I believe in IL. since I do not carry a Realestate license, I’m only able to wholesale a deal per year.

@Michael J Scanlon I appreciate your response, I absolutely agree with having someone with experience in my corner.

Hi BP community,

My name is Phil, I’m on the quest for my first purchase as an investor. Right before Covid, my wife and I did a live-in flip….not even realizing it was considered a live-in flip. Really though, it was a house that was foreclosed on that we purchased in 2012 for $75k put about $15k/$20k into it and sold it in 2019 for $180k. It was incredible, beyond what we had ever hoped for! With Covid and kids, we kind of held off looking more into Realestate in 2020. I’m a project manager full time and a general contractor/handyman on the side, I have zero issue putting in hard work but I do have an issue missing out on time with my kids. When 2021 hit, we really started digging into the science of investing (books, BPPC, BP webinars, etc…) and realized that we will do whatever it takes to live the financially free life style. That being said, we’re stuck in the analysis paralysis phase. We’ve been consistent with analyzing deals, have done a few walkthroughs on what seemed to be good deals until physically seeing the property.  

BRRRR, wholesale, Buy & Hold all sound great, but we aren't exactly sure which avenue would be best for our first investment. Seeing how welcoming, supportive, and knowledgeable the BP community is, I'm reaching out for some words of wisdom….what's the best way to break this paralysis?

Thank you