All Forum Posts by: Sara Booth

@Justin Gottuso great advice! I will do that. Thank you again

@Justin Gottuso I think you’re right about your approach. It’s smart to have that nest of 100k ready to use as down payments. 

I do not have my team together yet. That’s another issue with it, because I am so far away, I haven’t been able to make those relationships just yet.

I like that networking strategy though. This has been very helpful. Thank you 

@Jonathan Pavkov the idea I had was that I could make the 100k grow by flipping houses in Ohio and then, if I were to do well after a couple or a few flips I could use the money made from it as a down payment for an investment property closer to me, and then just continue to work with the 100k to flip and then fund more investment properties. 

@Stephen Brown @James Wise thank you both for input and advice. I really appreciate it. 

@James Wise do you think I could pull it off without taking out a loan? And do you think the distance factor creates too much risk?

@Dan Portka you are right, a smaller rehab would definitely be more ideal for our first flips. I have been trying to educate myself. I’ve been listening to the bigger pockets podcast everyday, I have talked to other people who flip houses (but not in the same way I am trying to do it with the distance factor) and I also reached out to an agent located in Ohio to try to ask for help. He advised against flipping but his reasoning was that he thinks the market is going to crash soon and not anything to do with distance. 

@Michael Carbonare do you think it would be more wise to start in LA or closer to me? The only reason I wanted to do Ohio was because it seemed like I could use my own 100k to get a whole job done and I wouldn’t have to take out any loans. 

@Jason Shackleton No I won’t be moving out there because I work a full time job here but I could manage to fly out a couple weekends during the month and my family member would be able to manage the actual renovation. However, we are both inexperienced so maybe that is too much of a risk for my first one. 

Thank you for your input, I really appreciate it. 

Hello, Newbie here. I need opinions on this idea.

I have $100,000 I want to invest in real estate. I live in Los Angeles and I have family in Cleveland, Ohio. The last time I visited Cleveland I had the idea to start flipping houses out there. Since I have family there who can help oversee projects and provide a place for me to stay when I fly out it seems doable. Also, $100,000 seems like it could go a long way in that area. 

Thoughts on this?