All Forum Posts by: Trenton Miller

You need to ask yourself multiple questions. The first question should be what is my after renovation value (ARV). Another question should be how long will this renovation take? You will have holding costs that you need to account for. You also need to know how much the renovation is going to cost you. Once you have those questions answered you can start analyzing deals. Most importantly you need to know what homes in your area are selling for. Comparative market analysis will give you this answer.

Please keep in mind the above questions I have mentioned are not the only things you need to ask yourself.  There are many aspects to consider before investing in a fix and flip.  one thing I will say is that numbers do not lie.  if everything checks out that could potentially be a good investment.  However there is always risk involved.

It sounds to me like you're very new at starting out with fix and flips.  I would highly recommend researching BiggerPockets for more information on flipping.  There is a tremendous amount of knowledge to be found within this network.

This is a solid suggestion, however, the association will most likely only refer you to contractors who pay to be a part of the association.  A contractor has a very busy schedule if they are good at what they do.  I would recommend finding a local contractor using an internet search.  Vet them through reviews, portfolio pictures, do they have a current website, ect.  Once you have found a contractor you would do work with give them a call and ask them.  If it were me I would offer a fee for his or her time.

Are you looking for a contractor to price out costs for negotiation purposes?  Or are you actually wanting to have the work done?

I would agree with this as well.  Yes you CAN go directly over the shingles...  However, if you are paying for new siding, do it the right way and make sure you address problems now versus in the future as they may worsen.

Absolutely not. If the roof is functioning as intended you do not need to replace it now. With that being said, ensure you keep sufficient CapEx on hand and available for when that roof does need to be replaced

Do some driving around and see what neighborhoods have renovations going on.  Keep in mind if a particular neighborhood already has a good amount of construction happening, you are too late.  You also never want to be the first one doing a flip, let those guys test the market.  If it sells quickly for a reasonable amount, I would consider that a solid neighborhood. 

Posting to follow this thread!

That is a very high quote.  I would move on as stated above.  How many quotes have you gotten?

@Christopher Baldwin  Welcome to the forums!  You've caught the real estate bug..

Start by reading these forums.  Daily!  There are also plenty of member blogs that discuss out of state investing in great detail.

I also highly recommend reading David Greene's book Long-Distance Real Estate Investing.

@Roni E. Cities near/outside of military installations are also promising (unless we go to war...)  However, one factor to consider is BAH rates when investing in those markets.

I have had great success searching County GIS portals.