Straight out of high school I served in the military and then spent the past 10 years working in IT.I have finally reached a point where I’m tired of working for the corporate industry on a limited salary while doing nothing for my retirement.For the past year I’ve been watching house flipping shows and decided I wanted to give it a try.Six months ago I bought my first house with a 203k loan that I’m currently living in so I could get some experience.I paid $167,500 for the house and took out $35,000 with the 203k.The house was a probate that had been abandoned for 5 years.Half the house was on a concrete slab that had sunk about 4” in the middle and it was completely outdated.We removed 2 load bearing walls to open up the kitchen, knocked out the back wall, built a new subfloor, and put up a 4 panel sliding glass door to let in some sun light.We installed porcelain tile in the kitchen, stainless steel appliances, new cabinets and quartz counters as well as recessed lighting.We fixed the foundation problems by mudjacking to raise the floors and carpeted the back 3 rooms that sat on top of the slab.As you can imagine we ran through the $35,000 quickly.The 2 bathrooms are still outdated and the house needs new siding.After the renovation we had it reappraised (per the 203k loan agreement) and they said it was worth $215,000.About 3 months after the renovation I attended a 3 day Fortune Builders seminar and come to a realization I probably could have saved about $20,000 if I had systems and processes to follow before I purchased the house.After listening to BP podcasts and hear other people’s experiences I’m quite fortunate I didn’t lose money.This sums up my real estate investing experience.

Or do you keep it old school and use a pen and notebook?

Some people should read recent economic history books and reviews occasionally.Remember that your FIRST property is always the hardest to acquire - your own doubts and inexperience get on the way all the time, just as you wondered about foreclosures.

Now keep in mind this is in addition to an information packet about the property (history, location etc) and the Bigger Pockets flip analysis.  

To make a short story of it I now have a  4/2 1465 sq ft for $172,500 this home is a few 100 yards from LA Sierra high school and the ARV is well over 300kI never would have found this deal on my own, total off market deal.  

Ideally, I would like to invest money I will be making at the end of this school year (summmer 2016), and turn it into profit.

I am 43 years old and am a high school graduate.

I would definitely not allow a report from a tenant since you need both criminal and credit and housing history verified. 

a little on the propertySingle Family Residence3 bed 2.5 bath  1585 sqftIn a great school districtRequires minor repairsAsking 67,000 CashArv $101-$105kRecent Appraisal Value of $112kCash Deal

We are most active in Manhattan midtown area with several school and private projects on going.