All Forum Posts by: Shalom Wininger

Thanks Randy, for one, I wasn't planning on buying from any wholesalers, as good ones are few and far in between and it minimizes your profits, and especially in todays market where there is even less profits. Secondly, I was planning on putting down the money for the deal and bringing the deal to another experienced flipper to partner with and get the hands on experience like that first hand while also bringing in a profit. Also I am fine with not splitting 50/50, as long as I learn the ropes and will be able to eventually do it on my own. Do you think someone would be willing to partner in such a deal, where I bring the deal with the money, and he helps me out with the rehabbing, so I can learn and get experience?

Thanks Randy for your great input. I am missing something, why if I am the buyer do I have to pay agent fees, I was under the impression that the seller is the one who usually pays the agent fees, in that case I would only be paying once? Yes, I know about the actual rehabbing, I planned on hiring out a GC and not actually doing it myself. I was also planning on getting inspections before hand to give as much info before I dig in, which then I would add on to my calculation about 20% in costs for all those unexpected costs. Also, my margins I was hoping to be 10%-15% profit, I wouldn't do less then that. If I was to find a good deal, would you think that an experienced flipper want to partner, obviously if there is good profit for the both of us? Is it worth it for me to try to find such a deal first and then reach out to a partner, as I would be doing all the hard work of finding a deal and then just bringing it to him? What do you think?

Hi,
My name is Shalom Wininger. I am new to real estate and am trying to start off by doing fix and flips. I did  research into it and am very familiar with it and how it works. I just have no experience at all. I am living in New Jersey and am looking into real estate  here as well. I had a few questions that perhaps someone can advise me on. 1) I was told to get a real estate agent to help, I have been trying to get an agent to help me, but most of them never get back to me and the ones that do, and I tell them what I am interested in doing, they never follow up with me and it is hard to keep chasing them, any advice as to what I should do about this? 2) I would try to do deals myself but I don't know how to do that, I have no contracts and I have no clue how to make and write an offer to even start anything off, the only way I can think of making any offers is with an agent, but that will cost the seller an agent fee and will minimize my chances of getting any deals, what should I do about this? 3) Is it best to try to get a partner, someone who is already experienced? I have tried that as well but no one is really interested, how do I go about this? 4) Even the distressed houses are only offering to be sold for a max $100,000 lower then regular asking price, which can't turn any profit, is it due to the market today? Is it even worth it to try to do flipping in todays market? Any help and advice is greatly appreciated, thanks to all.