Finding my Rock Star Team..

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Finding my Rock Star Team..

Liz Cole
Camano Island, WA · Member since 2017 · 91 posts · 42 votes
Hello! Can you suggest a Podcast or Webinar or give me your thoughts on setting up a team to do flips? The area I'm interested in is 3 hours from where I live. 1. Who do I need in my back pocket and as @David Greene would say:, How do I find the Rock Stars? ---- RE Agent ---- Contractors --- HML and PMLs, ETC. 2. How do I QUICKLY analyze a deal when the various BP calculators make Dumb ME enter the data on what things will cost? lol 3. Do I trust the listing agent on a property to tell me the truth? Or am I smarter to find my own person? Thanks for the advice!
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
8y

I cant think of a more risky venture as this.. going to be a lot of folks lose a lot of money trying this their first time out I don't care what rock star team you put together.. CAUTION this is not as easy as anyone makes it sound..

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  • Victoria C.
    Investor · Kaiserslautern, Germany · Member since 2017 · 77 posts · 25 votes
    8y

    @Liz Cole what city are you looking into to doing a rehab in?

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  • Liz Cole
    OP
    Camano Island, WA · Member since 2017 · 91 posts · 42 votes
    8y

    @Victoria C.

    Hi Victoria, when I started the thread, I was looking at Longview/Kelso, Wenatchee, or maybe Ellensburg or Yakima. I'm in the position to move so I thought if I found somewhere more affordable for my budget I have opportunity to relocate. 

    I've also considered going  back to the mid-west by my extended family and two older brothers..

    If I flip, there is more opportunity to gain here... maybe. Not sure how close to the top of the market we are right now. We are 5 or 6 years into an increase... 

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  • Victoria C.
    Investor · Kaiserslautern, Germany · Member since 2017 · 77 posts · 25 votes
    8y

    Hi Liz,

    Oh okay! I was going to recommend someone, but they usually don't work in those areas. I read through this whole thread and it was very informative! I do think Bigger Pockets and Real Estate Groups on Facebook can be a way to get good recommendations for good reliable general contractors. 

    Going Midwest can be a good option. I think the market there is a little bit easier then it is here in the PNW once you make a good team.

    Yes, that's the other thing. I do think we are getting close to the top of the market. You don't want to be in the middle of a flip when that happens.

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  • Bo Kim
    Rental Property Investor · Los Angeles, CA · Member since 2016 · 141 posts · 123 votes
    8y

    @Liz Cole I found my team through networking with other investors, not all like to "share" but atleast the people that Ive gotten close w/ were more than happy to refer me to their team who they have done numerous deals with. After I gathered my list, I called them/personally met each of them (im out of state so I flew out) and then decided whether or not it was a good fit. BP is a great resource and you will see good agents/providers/wholesaler names pop up again and again.

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