All Forum Posts by: Richard Loniewski

Once the project set up and hopefully going well, start setting everything up for the next one, may want to look into getting a VA to help with small tasks to take off your plate so you can scale!

Start networking and learning. when I started I found a mentor as well (not crazy expensive either) and he really helped me secure my first deal as well as connecting me with lenders, contractors and others. I felt more comfortable having someone on my side with experience to go out there and land a deal.

What did you do to get the first one? Get a marketing plan together, network. I don't wait until a flip is done before I look for the next one. I'm always looking for the next deal.

Go see the property first build a little rapport with seller, but eventually (before you sign) you need to see rental agreement

Depends on a lot of things marketing, making calls, negotiating and hard work. If you really grind you could probably pick up a deal in a month or two

Use a contractor on a few property walkthroughs and learn, also find average costs for every major repair (flooring, windows, bathrooms, kitchens, roof ECT..) Once yo have done a few flips it becomes easier

I walk through after and only use my GC for the scope of work. I want to get under contract as fast as possible. I used to visit the property, spend too much time analyzing and then find out someone else has it under contract. Good deals go fast!

Network, it's free and you can find possible JV partners for the capital. I did my first flip that way, only put down deposit

Stick to your numbers and stop learning and start making offers (took me awhile on the second one)

Someone who has experience, they can help you through the project and you can also get better terms by using their experience when it comes to a short term loan. That's what I did