All Forum Posts by: Ricardo M.

Hello all, For those who invest in Florida. I’m an investor from the New England area who has been doing flips for the past two years. Unfortunately the market up here is oversaturated and as a result it has been tough to find any good deals for flips. I’ve recently heard from a few investors that the market in Florida is still great for flips, is this true? I have $50,000 to invest and I’m also looking to use a private lender to fund deals. Any help would be appreciated.

@Chris StPeter Maybe you're right, maybe I need to find myself a realtor who's more accustomed to dealing with investors/flippers. Thank you for the suggestion Chris.

@Anthony Thompson That was a wealth of information, and you've now given me a few ideas to explore. And I'll be sure to be at the next REIA meeting, thank you again for your great suggestions.

Hello to all, 

I've been flipping properties for about two years now in Rhode Island and it seems that the market has been very slow of late. Very few "flipable" properties, and the very few that do come on the MLS have 40 excessive offers on them by the time I get a call back from my realtor. I connected with a wholesaler recently for off market properties and all the properties he sends my way are in locations in D neighborhoods. Anyone else experiencing this? Am I doing something wrong? Any wholesalers with good properties that I can connect with? Pointing me in the right direction would be greatly appreciated.

- Ricardo

Wow you guys were a tremendous help, the massive amount of information you've given me has definitely steered me in the right direction. Thank you again. 

Jason King Wow that's a wealth of information, and puts a new perspective on my goals. Again, much appreciated.

Jason King Thank you Jason, that was more than helpful. Maybe I should be conservative in terms of how many flips I intend on doing. Maybe just doing two as a newbie may be more up my alley. So in your estimation, if I'm required to put money down with a hard money lender, what would you say is the sweet spot in terms of how much funds I should have prior to even sitting down with said hard money lender? Apologies if I'm asking too many questions.

Anthony Thompson Thank you for the detailed response, I vastly appreciate it. So just to clarify, even with the hard money route and all those associated fees that come along with it, I would still be able to get the deal done with $20,000 "skin in the game" and yield a profit?

Hello all, newbie investor here from Rhode Island. I've completely fallen in love with this community and the endless amounts of information that it provides. I plan on delving into fix and flips via hard money in 2015, my goal being 4 flips in total for the year to start off. I've read both great books by J Scott so I'm more or less familiarized with the process, however I do have a question. I have $20,000 towards this venture, is that enough? If not, what would be the appropriate amount of funds needed? Bear in mind that I plan on doing each flip one after another, not simultaneously. Thank you guys in advance.