Hello Everyone. I have been talking to everyone I know and meet about real estate investing and it seems to have started to pay off. I was put in contact with someone with a house they are looking to sell and are possibly open to seller financing which just makes things even sweeter. I have some income property now but this would be my first flip. The seller says he wants $60k I think it will need about $50k and will have an ARV of around $150-$160. I understand the basics and have a pretty good grasp, I think, of how things go but I would love it if someone would be willing to help me out through things if I have some questions or concerns. Hopefully someone local to the Western New York area, specifically im just east of Buffalo. And let me add im not looking to waste anyone's time or for someone to do this for me. Im ready to put in the work but a little extra knowledge and experience is never a bad thing.
Also I am looking for suggestions for a real estate attorney, contractor, agent, title company etc pretty much everyone lol. I know how to look this up but im curious if anyone has someone local that they recommend.
In closing, I am open to any advice, information, or suggestions. Thank you everyone! Have a great weekend!
Hello @Ken Krueger ,
Congratulations on your success so far and also on finding a potential seller-finance deal!
My advice for finding the agent, attorney, contractor, etc. would be to
1. use the 'search' function to find topics, members and areas of interest. Get answers to your questions and find people using this function!
2. Set up keyword alerts so that you can receive notifications once a topic or area of interest in mentioned in one of the forums. Its a great way to stay current!
3. Check out the Events tab at the top to find local and virtual meet ups.
In addition to this, speak with a CPA or experience Realtor in your market who can help you formulate a 'seller net sheet'. This will help you outline all of your costs (transfer taxes, holding costs, closing costs, broker fee, etc) throughout the flip to find out just how much profit you'll walk away with.
Best of luck to you moving forward!