All Forum Posts by: Ryan Ridgley

@Jesse Carlson You hit it on the head about taking more time. Everything I am doing though I am learning new skills and I can apply them moving forward. Not just for doing to the work myself but recognizing what will work and what won't in certain layouts or situations. I am actually looking into getting into the  midwest myself,  you are correct that it is expanding greatly. I would love to chat via PM regarding your market and I'll be happy to share what I have here in New England. 

Well you came to the right place. Be active on BP and go to your local REI meet ups. That’s a solid place. Also learn as much as you can and add value to other investors.

Hi Derek! Welcome to BP and your investing career, it’s so exciting. I’m not in your market, I’m actually in New Hampshire. I’m not sure what road block you have to get past but my advice is to find the deals. Once you have deals the financing will fall in place if the numbers make sense. If you bring a good deal to a fellow Real estate investor you could both profit. Don’t let having no money stop you if that’s the case (as is mine). You just need to get creative and problem solve. That’s all it is, one problem solved = one property bought.

Hi Scott, I’m not in Florida, however I would not do it if there was a chance of jail time/legal penalties. Reading your situation made me think of what risks I would take and this is not one of them.

Hi Natashia,

I am having the same issue here in New Hampshire where its too expensive for me to use my own money for buying properties. This is why I'm looking at the midwest as a viable option. Another option you have is to use private money. @Brandon Turner wrote a great book on investing In real estate with little or no money down. You can find it in the store and I highly recommend it. 

Hey Jesse. Congratulations on coming to an end for your first deal! Way to go! I am also working on my first deal, although across the country in New Hampshire. The house I actually bought is a live in flip and the previous owner was a hoarder! I have been doing all the work myself with the help of many friends. They only thing I have contracted out was putting in a 18' steel beam. That was just too heavy for me to lift. The place was so bad the floors were actually sloped in, so I had to deal with structure issues as well as termites. Being an engineer, I felt confident in all my structure reapirs and worked with my local building inspectors. I felt overwhelmed at times so I got quotes from contractors and they were going to do what I was planning, but charging me an arm and a leg. I replaced the subfloor for first floor, replaced rim joists, sill plates, had the house on jacks with temp support beams, moved a bathroom, electrical work, plumbing, kitchen redesign, wood floor. The future is renovating the master bath. I picked it up for 325k using the VA loan. Reno budget of 40k. ARV 425k, hoping for a 60k profit. I'm looking to get into a market with a smaller barrier for entry, thinking about the midwest so I loved hearing about your first deal. Thanks for sharing. When are you looking to do your next deal?

1. Use the right tool for the job. It saves you time, energy, and potentially money. It will also bring higher quality to your work. 

2. How to research. Use multiple resources when learning. 

3. Know your limits and don't loose your patience.  

Hi Niki. I removed popcorn ceiling from an area of my live in flip by sanding it and it turned out fine in my situation. I was already planning on repainting the ceiling, so I added a small amount of texture additive to the paint and you can't tell there was popcorn before. That being said, if you want it gone completely I would probably skim coat the entire area (lot of labor/time if you haven't done it before).

I also added some cedar planks over the entry area so I was able to leave this area alone. 

Hi, Alex. I would have to agree with going with the metal roof for that minor of a price difference. If you hold this property for longer than 20-30 years it will actually save you money because you don't have to replace the roof again.