All Forum Posts by: Phil Robbs

@Rob Beene

Hi Rob. I saw a house on Zillow in the Dothan area that needs some work, but asking price is $59k. It's a 4/2 with 1850 sq ft. Would like to remove carpet/put in hardwood or vinyl and the wallpaper needs to be taken down. Kitchen and bathroom need updating as well. Yard looks well kept but will need a bit of landscaping.

I'm brand new to the RE business so I don't know numbers well yet. I figure I can probably close at $55k, maybe $30k renovation, and sell for $120k. Do you think that is feasible in the area?

Hello all! My name is Phil and I am a newbie to BP. I'm Active Duty Military in Navarre / Fort Walton Beach and I'm looking to make the jump and get my REL as the beginning to the end of my time in the rat race. I just finished reading Rich Dad Poor Dad and I'm eager to get out there and start building my empire. 

I am owner-occupied in a single family home in Mary Esther that I acquired with the VA Loan. I purchased it without RE in mind so the numbers don't look great as a rental. I have family in the Dothan, AL area and I am looking at that as a potential for some buy and hold properties. We may be moving to a new location next summer and we don't know where yet, but I figure I'll always come back in to Dothan.

Looking forward to meeting you guys and becoming one of BG's many success stories :)

-Phil