Trying to implement the BRRR Strategy

12 Replies

Hi Bp'ers-

I'm looking for fix and flip professionals in the South King County Area of Washington State.

I am coming across wholesale deals that I have to pass on with other investors due to my inexperience with fix & flips. I am willing to split profits with another investor who can guide me through the process of fix & flips as well as the financing aspect of the deal.

How would I expedite the process of learning it takes for me to learn all the aspects of fix & flipping?

Thanks,

SD

@Solomon Oh

I think your best bet to find someone to partner with would be at meetups. It is kind of hard to expect experienced people to partner with a new person they haven't met personally. Attend meetups and talk to people and form those relationships. That will lead to finding your first partner.

I haven't made my way up in that area yet. I meet at a few in South King County. I go into Seattle once a month to a meetup, but the rest are in South King County. 

Solomon,

I started working for a local developer doing single-family flips & new construction, and now work for a multifamily syndicator founded by previous Pinnacle employees- small world! I just completed my first personal flip and don't have near the experience of many on this site, but would be happy to grab a cup of coffee or happy hour with you to understand your goals and offer any help I can. I live in SE Seattle between Columbia City and Rainier Beach, so pretty close to Renton.

Best of luck either way!

@Pete Perez Do you think you can link me up to one of these meetings in south king county? I'd love to net work with investors on the south end of the lake.

@Graydon Manning  I will take you up on your offer. I do work on the commercial management side so things are a bit different. I'll PM you.

@Solomon Oh

Absolutely this is the one I attend just about weekly Meetup

There are a couple I go to in Pierce County. Let me know if you're interested and I can share that link as well. Best of luck and hope to see you at the next one.

@Solomon Oh

I would be interested in seeing the deals that you have. If the deals are good, the financing is easy.

I can assist in the following capacities:

1. I can buy your wholesale deals if the numbers make sense.

2. I can help you get the financing for your own projects.

3. I can renovate the houses for you with my construction company.

4. I am a real estate agent if you need one.

@solomon oh

I will PM you links to Fannie and Freddie guidelines.  If you purchase cash, can demonstrate source of money used to close and document all repairs you are eligible for a cash out refinance within certain time limits up to 75% of appraised value; not to exceed the money you have invested although that is up for discussion.  Take time to find a bank/broker first if your want financing to carry transaction.