All Forum Posts by: Pratik P.

It was called Bridge Plus..or something like that? It's meant for flipping properties so the term is 1 year max.  

Still a "simpleton" 100%. 

There's a sweet spot between over-leveraged and all cash. If you want to scale at all, you need debt with healthy reserves. 

I'd stay away from paid courses. Google and Youtube University is where most of the information is. Once you have a good grasp of flipping, contracts, wholesaling, you should get in touch with some local active investors and see what kind of deals they buy. See if you can meet them at their flips so you can see the business in action. Then....find deals and wholesale to them. Finding deals is going to be the tough part. 

To add to what others are saying, I don't think the virus should prevent you from flipping. I have 2 flips coming to market pretty soon. I'm not anticipating any serious issues selling them. Maybe longer days on market? We'll see. If I was a buyer, I'd be looking right now because interest rates are looking pretty delicious lol

I would just make sure your numbers are accurate and you're buying with decent spreads. Now is not the time to buy "risky" flips with thin margins. I would also run your numbers from a rental standpoint and see if market rent will at least cover the expenses. 

I don't think there's a "fine line" if you do it right. Although some states are starting to pass laws that require you to be licensed. If your state doesn't require it, I wouldn't put it at the top of your to-do list. You should spend your time learning about flipping and marketing. The courses for licensing are a big waste of time lol

Lol this is how some of you are while property rights are slowly being taken away. 

Wow that's really odd. I used to use them A LOT a few years ago. 

My business started as a wholesaling business and now we just flip almost everything we acquire. Same acquisition style, different exit strategy. I can tell from the above comments that most of you don't have a clue about how much marketing you have to do to find profitable deals, especially in CA.

"Whatever happened to wholesalers just adding on a fee of say 5k to 10k per house depending on the price point?"

Are you outside of your mind?? How are you supposed to stay in business when you are spending 5k+/month on just your PPC campaigns? And then direct mail, employees, systems, etc. 

If we acquire a contract for 200k and another investor offers 250k, what is one supposed to do? "Well gee Mr.Investor I'll just sell it to you for 230k instead"? What someone makes on a deal is 100% on them, whether that's $1 or $1M. If the numbers work for you, then take it. Don't worry about what the other guy is making. 

Pretty much all of Sac county has strong rental demand. But 10% annual ROI is going to be extremely difficult for you to find on the market.

Wow 4 pages of discussion over this? Until you get served court papers, don't spend money on an attorney or talk to anyone from the seller's side. There is absolutely NOTHING good that can come from speaking to their attorney.