I am new to real estate. I am working to getting my first house to flip. My real estate agent sent over about 30 houses and I narrowed it down to about 12 houses. She sent over Comps for those 12 houses. I ran my numbers using BPs fix and flip calculator. Out of the 12 I picked 3 that would bring the profit I want (all from estimation). I am not really sure of what my next step should be. Would someone be able to guide me or advise me? Thank you
If you have it narrowed down to 3 and have means of purchasing them (Bank Letter or other financing lined up) Then I would think it would be appropriate to go see them. How confident are you in your rehab numbers? Do you have construction experience or have some contractors lined up? It might be good to have a contractor walk your favorite property with you to get a good rehab budget narrowed down. Then you could have them do some of the work as well to start building your team.
If you don't have a contractor yet it might be helpful to network with other investors in your area and check out a REIA.
Best of Luck!
Keep us posted.
I do have finance lined up. my rehab numbers are not accurate. I used 40k as my base number. So now I go see the property with my contractor. After that whatever the rehab is I adjust my number and then send in my offer?
@Nghia Tran Welcome to BP! Good way to get started is read BP Beginner Guide
Best of luck!