My situation is as follows. My father and I are partners in this endeavor. He is 65 and retiring from the commercial construction industry after 45 years this coming February. His hands are his greatest assets. He knows construction in and out (except for electrical) and does not want to retire and sit around. He has been wanting to get into real estate investing for quite some time.
My experience is a little different. 10 years ago I purchased a fixer-upper in a great neighborhood for my wife and I. Spent 10 years working on the home myself and with the help of my father and the house has grown substantially in value. For me, my current home was a school of hard knocks. I've done quite a few modifications and brought the house up to a really nice house. My mistake during the 10 years however has been multiple equity loans. We owe what the home is worth. Invaluable in my opinion for what I've learned about home rehabbing. So combined, my father and I are looking to get started in this business. I know my way around the internet. I can find the resources needed and do well socially. My father has the credit and investment capital. Together, we KNOW we CAN do well.
Ok. So, we want to flip houses. In a nut shell that's about it. We want to find great deals on distressed homes in nice neighborhoods that people want to live in, fix them up as quickly as possible and turn around and sell them. Rinse Repeat.
The leg work of finding deals seems to be the bottleneck at this point. As a potential buyer... where do I find the wholesalers? Where are you all hiding and how do I uncover you guys?
Guy
