Investment Info:

Single-family residence fix & flip investment in Goodland.

Purchase price: $100,000

Cash invested: $35,000

Sale price: $270,000

Hey BiggerPockets Community,

I recently updat...

Quote from @Bruce Woodruff: I had 2 STRs and found that the only way to make good $$ was to do everything myself.

An FHA 203(k) loan is definitely one route, but there are other ways to make it happen that might even work better depending on your situation:1.Private or Hard Money Loans: These could be a good option if you want flexibility.

If someone made $50K assigning my elderly parents or grandparents home to an investor in a subject-to deal, and that investor ruined their credit by not making payments, I would do everything in my power to go after that investor, AND the wholesaler, and I would make both their lives a living hell to the best of my abilities.

Welcome to BP!

For the first few, having a GC work with me, I think it will allow me to get a better understanding of how to recognize scope of work.That said, how much are GCs charging for home flips? 

I look forward to seeing how you encourage others to likewise grow.  

How does all of this work on the back end?

Go ahead and file.In real life it costs you time to figure it out and money.

Real estate is easy to get into, but hard to earn a living. 87% of all agents quit within two years because they don't make enough money.