All Forum Posts by: Ricardo Rosales

Do whatever you find best for you, we sub contract and divide labor as well as to outsource completely a project, I don't think there is a perfect way or a better way to manage contractors and sub contractors, what we do is that we make sure we have written contracts with all of them to make sure the scope of work is clearly defined. 

When we get complacent and don't do a contract is when we run into issues for the most part.

Sometimes is because we change the scope of work or we find that there are issues hidden behind the walls and that changes the scope of work. Either way make sure you put it in writing, I have done now over 70 flips and sometimes I mess up, managing contractors to me is probably the hardest part of this business. If you get someone that after a rehab you don't trust anymore then simply do not invite them on future projects and you have to be constantly getting new people to come and bid on your future projects to keep everyone in check.

Can you recommend investor friendly title companies in the OKC area that conduct subject to transactions? Your help and advice is greatly appreciated.

Welcome to BP Trina!!!!!!!

Fernando, the principle of flipping houses applies to any market, however you have to make sure you have a established network (Lending, motivated sellers, comps, etc) find a property that you can pick up for pennies on the dollar and make sure that after you fix it is comparable to market values.

Good luck to you.

I would advise to put together a small budget for marketing campaign and attract some motivated sellers that way, I think you need to start wholesaling instead of flipping if you dont have lot's of capital. 

Best of luck to you,

Ricardo

Go ahead and invest in a mailing campaign, it is the best way to attract motivated sellers from my experience. Do at least 500 houses a month, you will get experience and track record at the same time. 

Best of luck to you :)

Hi Daniel, welcome to biggerpockets, find a mentor that is already doing what you want to do (Buy fix and flip, buy and hold, wholesale) Define your way forward and take action, do not get hung up in analysis paralysis. 

Best of luck to you and happy investing!!!!!

I got about 3 Title companies in South Florida (Ft Lauderdale-Miami area) let me know if you need the contact info.

Start with one house, use a hard money loan so you can get used to the process and you tie the least amount of your cash possible, if you want to flip several properties in the future at the same time you will have to learn how to leverage other peoples money, if you can't sell the property for whatever reason you can always refinance it with a conventional loan and keep it for cash flow. Based on my experience out of 10 properties we flip we only sell 3 and refinance the rest after we rent them, maybe the numbers in your area could be slightly different. 

Also, find a mentor in your area, start networking at the local REIA and seek for guidance from someone that has done it before plenty of times, it will save you a lot of money in the future.

I wish you the best, this is what I do full time and I love it.

we all get greedy from time to time lol