All Forum Posts by: Ryan Steiner

I'm in the same boat somewhat too. Perhaps theres an REIA in your city where you could meet current successful investors? I've done all but actually submit offers, and will plan on doing this at the next event to find a mentor thats done a few. Maybe a helping hand is all we need to make the jump!

Hi everyone!

I'm Ryan Steiner, a beginning rehab investor in the Tampa Bay area. I've lived here most of my life, but I often travel for the Army. I'm currently stationed in Ft. Stewart, GA as I recover from surgery after my recent deployment. Don't worry, I was just weightlifting ;)

My current goal this year is to acquire and complete 2 flips under my LLC and begin building cash reserves to assist with scaling my business by having the ability to conduct multiple flips. I feel very confident, thanks mostly due to the vast resources and knowledge on BP and youtube (75% BP videos). Over the next month I am going to ensure I have a good understanding of all the people/documents/financing I need to secure a contract and begin my path to financial freedom!

I look forward to meeting and networking with you all! If you are in the Tampa Bay area, please feel free to reach out and say hi!

Thanks so much for the advice! I've seen enough "gurus" to know that between BP, youtube, and a quick google, there's no secrets in real estate. In addition, any company that has to hide payment details is hiding plenty more.

I have a demo with Kuba's REI Kit in 20 minutes, but I think I'll check out your program as well. For being a solo investor, I dont need much currently to get going, but organizing is key so I can scale.

Thanks again! 

Hi BP!

Bottom line: Anybody have opinions on the different Real Estate cloud programs for organizing their work?

I'm getting started in the Tampa area with a focus on flipping/rehabbing. Between ADHD and the memory of a goldfish, organization to me is critical to efficiency and success. I've heard of Flipster/Podio/REI, and a few others but I'd like to hear input. Personally, Flipster seems shady, as does Jerry Norton, so I'm hesitant to shell out 300/month for his software.

Any constructive feedback is appreciated, thanks! 

Here's a list of what I've done to start, and what I feel I need to figure out before making the jump:

Completed: Read J Scott's Flipping book, created LLC, contacted buyers agent, contacted portfolio lenders/HMLs, begun reading J Scotts Est. Rehab cost book, begun trend analysis on my area (Tampa) to decide hot markets, found the different ways to source leads, and watched dozens of hours on youtube on the different steps in the flipping process, and begun voice recording all the questions i still dont have answers to, in addition to multiple questions on BP.

Need to figure out: My organizational process for leads, offers, all the paperwork involved, getting more comfortable knowing what I should offer when looking online, securing my financing (I have good credit/assets so I'm less worried), how to approach different types of leads (REO/FSBO/Wholesale, etc.), finding/vetting contractors, and really just being confident that I'm not about to make an offer way out of the profit zone.

I've been in the Army for a minute, so I have no problem managing projects and dealing with people. I think I'm just still "drinking from a firehose" with all the information, plus I have the memory of a goldfish so I want to organize a step-by-step to make sure I am ready to make offers and hit the ground running. 

@J Scott thanks so much! I've been using your book and it's been immensely helpful. I guess I wasnt sure when looking at leads what keywords I should focus on. In tampa I've seen many "cash or hard money only", and they want a quick close.

Would it be feasible to get a hard money proof of funds for multiple offers, or do I need to request one each time I want to submit an offer on a new property? I'd like to begin making offers asap, but want to ensure I have the right documents to secure a contract.

Hi BP!

I have been researching the different financing methods, and would prefer to use portfolio lending for its better rates on my first flip. I have roughly 60k liquid available as a down payment if needed, and the lender I spoke to qualified me for decent rates, etc.

My questions are:

1. Does a portfolio lender preapproval letter count as cash when searching leads?

2. When searching leads, what keywords tell you they'll accept portfolio lending? (if PL doesn't =cash)

3. Depending on answers 1&2, is hard money lending usually the foot in the door for beginners low(er) on cash?

4. Do I need to ask for a preapproval letter each time I want to make an offer, or can I use one to submit for multiple leads to save time?

I want to avoid following leads that want different financing than I can offer (or know I need to pursue different funding), or bothering the lender all the time if one letter suffices for multiple offers.

Hi BP!

I have been researching the different financing methods, and would prefer to use portfolio lending for its better rates on my first flip. I have roughly 60k liquid available as a down payment if needed, and the lender I spoke to qualified me for decent rates, etc.

My questions are:

1. Does a portfolio lender preapproval letter count as cash when searching leads?

2. When searching leads, what keywords tell you they'll accept portfolio lending? (if PL doesn't =cash)

3. Depending on answers 1&2, is hard money lending usually the foot in the door for beginners low(er) on cash?

4. Do I need to ask for a preapproval letter each time I want to make an offer, or can I use one to submit for multiple leads to save time?

I want to avoid following leads that want different financing than I can offer (or know I need to pursue different funding), or bothering the lender all the time if one letter suffices.

@Cassie Montalvo thank you so much for the great advice!

Now, as you figure out the designs that are good for that area, do you just relay a lost to the GC? Do you prefer to coordinate the finished materials being delivered or let them handle that?

Also, could you elaborate on what might be required by the area?

I've just created my LLC and have about 90% of the team I need to obtain my first flip. My question though is how to know/plan the rehab to make it look good for the potential new buyer?

When you look at a place, what sources do you use to plan colors, material types, layouts (if a floor plan needs redesigning)?

Is this something the GC would assist with/plan? Or is it something you collaborate together?

Any input is appreciated. Thanks!