All Forum Posts by: Phillip Le

@Shawn Ward So could you please share your final numbers after the closing? 

Ryan Detig Thanks for the suggestion and help, hopefully I will able to post and share my success story few weeks later.

Shawn Ward Wow beautiful flip Shawn, congrats on your first success flip. Can I ask if you are involved at all during the flip? Are you there everyday to check on it?

@Ryan Detig I currently have a job (for 5 years) where I'm making just around $22/hr, and I'm planning make the transition to this full-time so that is why I want to do this myself. I just have a little bit of experience, but I'm willing to learn as I go. If I have a job making $50/hr, no doubt I will hire a GC but I just have an average job. Anyhow, how much are you typically looking for a flip? I read somewhere in the forum where it says it should be around 10% of the all in cash (purchase+rehab+closing+etc) to consider a good flip. What rule of thumb do you use? 

Ryan Detig Thanks for the tip. I see that you just hired GC to do all the works. I planned to work on the house myself, and hire contractors as I go. I feel that way, it would be a good learning experience. Do you any any fix and flip currently in the works?

What a great success story !! Keep up the good work. I myself just purchased a flip and fix SFH at a local auction, now just waiting for closing date to start the rehab process. Do you have any tips or suggestions after your 1st flip which you made 10k? And would you consider to do more fix and flip in the future or just sticking with rental business? Thanks ahead for any advice.

Hello,

I'm a newbie REI, looking for my first deal, so any advice will be much appreciated. I've been looking at this deal below, the asking price seems very fair but from the pictures, it seems like it needs a lot of TLC and rehab. I'm not sure how much the costs for rehab will be, but should I even consider this as my first deal? The cashflow is very tempting, which is why I'm very interested in this. FYI, I'm looking to buy it with straight cash (possibly borrowing from private lender), and will refinance it afterward. This property is in Louisville KY so any insights from the local investors will be much helpful, and thank you !!

 http://www.loopnet.com/Listing/20155023/3928-South...