Joined today! HELP with check lists and do’s/don’t of flipping

2 Replies

Hello, happy to join this community. Seems to be a helpful source of quick answers!

I have two other partners I’m looking into flipping properties with. One is a general contractor and the other is a real estate broker. Both top of their game, amazing and well connected. I’m the newb. My expertise is business, project management, growth/strategy, etc.

I’m brand new to real estate investing. Would love any links to check lists you’ve used, project management plans to keep flips on track, etc.

Also wondering best business structure (we live and will work writhing Washington state) and source of contracts to use with my partners when we find deals.

Thank you for any help or advice you can give.

@Marshall Macias Hey Marshall! Welcome to BP. I'm a newbie myself, but just like you, my background is more in Project Management, growth, processes etc.

Don't know much from more experience investors, but I've heard a podcast guest use Asana for their Project Management, it's also what I use for work. and it's amazing at keeping track of projects. For myself, I use a combination of Asana for my PM, Any.do for my everyday checklists, Evernote for my notes. And if you are crazy into optimizing, like me, you can use a tool called Zapier - which automates workflows between apps. So for example. a note that gets put in Evernote can be automatically be triggered asa task in Asana. It has a lot if integrations with different tos and can really help you with your workflows.

As for other tools, I've heard people use Buildium for Property Management.

Hope that helps!

@Vanessa Ganaden thank you, I use those tools as well and agree. Haven’t found anything substantially better than those. Hadn’t heard of the RE mgmt tool, will check that out thank you.

I’d love to know if there’s a check list or useful flow to go through for each deal from the search, choosing the right place (or knowing when to walk away), financing, etc. something to keep my head straight and make sure I don’t miss key indicators or steps along the way.

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