All Forum Posts by: Tiffany Loftus

My husband and I joined a while back. We were so excited to get started and things were lining up for us to finally make some moves and get our first flip...then our teenage daughter attempted to commit suicide. It was very impulsive and unexpected. She went inpatient and I shut down. Things just kinda fell apart after that. Now, she's been back home for a few months and getting the help she needs, but I'm still feeling stuck. Mentally I'm good. I have my people I talk to, but I just can't seem to get the motivation back to get started again. We have an amazing realtor who continues to send us properties, but I don't "feel" like trying to find the money again or looking at multiple properties etc.

We really want this for our family and I know we can do it, but there's gotta be a way to get over this hump. How do you find the motivation to push forward even when things go crazy?

First, I want to say THANK YOU to the people who responded on my first post. This community is amazing! My husband and I are always finding ways to bless people so to be in a place where we see others doing the same and wanting to see others succeed is pretty great. I love seeing people who understand that there really is plenty to go around!

On to today’s topic...

I made a couple of checklists to help us plan out our business. I made a to-do list and we took inventory of my husband’s skills. We refuse to let the temporary absence of funds keep us from taking steps forward. If anyone has the time, can you let me know if there’s anything we’re missing? Thanks!

To-Do List

- [x] Game plan and strategizing

- [x] Walk showroom of our wholesale supplier to see what all is offered

- [ ] Look at other building supply places

- [ ] Come up with name

- [ ] Apply for EIN

- [ ] LLC

- [ ] Talk to CPA

- [ ] Get bank account

- [ ] Research properties

- [ ] Find capital partners to get started

- [x] Research real estate classes

- [x] Come up with a list of things Isayah knows how to do

Isayah’s Skills

-Tree trimming

-Countertop fabrication and installation

-Cabinet installation

-Construction (framing, joists, subfloors, etc.)

-Flooring Installation

-Roofing

-Tile Installation (flooring, backsplashes, etc.)

-Drywall

People we have willing to help us for free or lower cost

-Two (maybe 3) contractors

-Granite fabricator

-real estate agent

-Family for extra labor

-wholesalers

-loan officer willing to help get credit up

-flipping mentor here in Tulsa

-electrician

-hvac guy

-painter

Thanks y’all. I feel like we’re ready to go as long as we get our checklist completed. Let me know if you have any advice or suggestions!

Thank you so much everyone who replied and was willing to take the time out to advise us! We really appreciate it, and now we have a better idea on how to narrow down what we need to look into. There's some great feedback on this post and I'm hoping it helps others too! I feel a lot more like this can happen now! 

@Adam D Rinehart I didn't even know that was an option. Everyone we've been talking to has made it seem like both the flooring business and the flipping business would have to stay separate. I'll see what we can do! Thank you!

@Joe Villeneuve I am definitely going to research those options because I don't think I have ever heard of them before. I still have a lot I can learn.

@Nicholas Field that's one of our options...to just keep researching and saving until we can get the money for our own property and get started. I guess if we do have to go that route we won't have to worry about the expectations of a partner.

@Nate Sanow that's something I'm working on now. I am definitely confident I can find the deals, and I know my husband can do the work...I guess it's a little intimidating thinking about asking a stranger to trust you with a large sum of money. I know Tulsa and Broken Arrow very well and I'm a people person so creating a product that will sell isn't even an issue. I have to work on getting out of my comfort zone a bit. Thanks for responding!

@Mack Benson thank you for responding. I like the idea of putting together some of our work to show we're capable of managing and completing jobs. One of our contractors has paid my husband to oversee whole construction jobs as a project manager of sorts in addition to the construction/carpentry work my husband subs for. Any advice on how to add that to the pitch?

I think the partnership route is going to be our best route as long as we can find someone with the capital. I'll start looking into our options available out here. Thanks again!

I know I keep seeing and hearing about people who start with little or no money. My husband and I decided recently that we need to come up with a real plan to build wealth for our family. We currently have a small business doing flooring, carpentry, and some small home remodeling projects, but with 8 children we need to do something that's going to actually take care of our family. The problem is getting started. We're not in a place where our credit can get big enough loans yet, and just about everything we have goes into bills and taking care of our family. 

So, with my husband knowing construction and carpentry he can do pretty much all of the labor with help from our sons. We'd only need pros for electrical, plumbing, and HVAC. I have no problem finding the deals because I know Tulsa and surrounding areas very well, and soon I'll be taking real estate courses. We have been blessed to already have really great local relationships contractors including one of the contractors we sub for who has agreed to walk multiple properties with us to assess what needs to be done. 

It seems like everything is lining up for us to get started, but this stupid money issue is holding us back. 

Can I get some replies from people who started with little to no money? How did you do it? 

I know we can grow something awesome with the way our family works as a team, but some days its discouraging to see what we could be out here doing...but knowing we're held back by the lack of finances.