All Forum Posts by: Yi Zhao

@Steven J. It's hard in many situations to tell if something the contractor is responsible for is up to par until a professional inspector comes and inspects it. This happened quite often, where it looked totally fine to me but wasn't up to code according to the inspector.

Hi all,

I'm a flipper and the houses I flip usually takes $50k-60k to fix. In my contracts, I always withhold 10% until the house is sold and final home inspection has passed. It usually cost 1k-5k to fix issues that arise during the inspection.

My contractors complain that its tough to have to wait indefinitely until the house is sold. I can definitely see where they are coming from.

On the other hand, I would like to protect myself and make sure that there is a way to cover the expenses that arise from from the final home inspection (that they are responsible for).

Are there better options than what I'm doing currently? I would like to address the contractors concern and at the same time still protect myself.

Thanks in advance for any advice!

 Thanks. I added you.

@Kim Coleman Thanks. PM sent.

@Jean-Frank Dorvil I heard Bmore has high margins but more risky. Since I'm a newbie, I wanna stick with what I'm comfortable with. In the future, I'm def looking to expand to other areas of MD and VA as well.

@Brandon Urbank Nice to see DMV investors on here! I'm not familiar with NoVA but my friend does a lot of stuff in Annandale. Apparent it's not bad. Might wanna look into that area. 

Hi everyone,

I'm a house flipper and would like to explore the possibility of working with wholesalers to see if I can find better deals than I can on MLS since MLS is so competitive now days. I'm going to go look at a house tomorrow advertised by a wholesaler.

I've never worked with a wholesaler before and would really appreciate any advice. Some questions I've been thinking about are:

1. What to watch out for

2. What kind of questions to ask

3. I have a great realtor I work with. Would it be a good idea to bring her?

4. I was told that I didn't need a realtor to buy houses from a wholesaler. Would there be any benefits of using a realtor?

5. Anything else that I should be careful about?

I'm a bit nervous about this and any advice would be greatly appreciated.

Thanks, Yi

Hi everyone,

I'm a house flipper who operates in PG County, Maryland. I fund my flips with my own cash so I don't need to wait on investors, banks, etc.

Currently have 3 flips ongoing, two of which will be on the market for sale this coming week, which means I'll be ready for a couple more.

Looking to put in around 250k per flip (purchase price + repair cost) or less. Looking for profit (before taxes) of at least 15% per flip.

If anyone has a good deal, please contact me.

Thanks,
Yi

Welcome Janine. I'm also a new investor on the PG / DC area. I'm looking for flips so if you have any I'd be interested in taking a look.