All Forum Posts by: Winnie Rim

Something I want to learn today. On average how many contracts and forms are included in a fix and flip or wholesale deal, don't want any to slip my mind or find out about hidden fees for not filling out paperwork and be held liable in the process. If you are a successful Agent, investor or Rehaber yourself that works with forclosures specifically, or pre-forclosures I could really use the insight, thanks.

I found a house in Seattle area and estimated that the sale price is lower than the average homes sold in the area per sq ft, now do I schedule a tour and get a contractor to estimate pricing on repairs so I can estimate the profit value or go straight to a lender for the money to get an appraisal ?

Have done the research on wholesaling and fix and flips, ect. Real estate investments. But can't even network without a professional registered buisness name/card, and to get that I need a specific buisness plan? How do I even start? What do I need to ask myself? I know I want to start small with single family homes, but where do I go from there? Do I need to crunch specific numbers? The plan is to someday run my very own plaza hotel, have multiple units/homes owned for incoming cash flow and open a couple of other buisnesses other than real estate. How much more specific do I need to be? Or am I getting it wrong and need to plan plain and simple? Help please. I'm at the start of my success story.

@Mike M.

Thank you Mike for the explanation, is there any basic math equations you could throw at me or anyone could throw in for me to practice this a little more?

I'm trying to really understand how to use the COST /SELL /MARGIN on my calculator

Can someone please explain fo me in depth what the word "Margin" means in buisness? And how to calculate it.

I see explanations on Google but they're all different, not sure which one refers to the correct definition in using Margins in real estate investing calculations.

Have signed up to go to the Fortune Builders seminar in middle October, but would also like to learn from those around my area on how to seriously get started and be successful into flipping houses to future invest into some longterm investment properties. Can anybody or someone point me in the right direction to where I can find a good mentor or advisor that is willing to teach me the ropes and stays in Seattle-Tacoma area? I am very interested in shadowing other investors, would very much appreciate the live experience of dealing with paperwork, contractors, sellers, buyers, phone calls, invoices ect.