Starting My House Flipping Journey in Cincinnati

General Real Estate Investing
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Starting My House Flipping Journey in Cincinnati

TJ Fries
Member since 2023 · 27 posts · 8 votes

Hey everyone! I'm extremely new to real estate investing and house flipping! I haven't purchased any properties yet, and I'm looking at starting in Cincinnati! But I AM looking for mentors and to create a network of lenders (HML and GAP), investor friendly real estate agents, and contractors. And on that note, when flipping single family homes, would it be more advantageous to use a General Contractor or a Project Manager? Or do you, the flipper, contact each individual contractor for what needs to be done? I appreciate any input and network connections, and welcome anyone who I could trust as a mentor in my journey! Thanks everyone!

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  • Carrie Matuga
    Lender · Riverside, CA · Member since 2017 · 248 posts · 98 votes
    2y

    @TJ 

    @TJ Fries congrats on getting started! If you want to talk.I'm an investor and a lender. I've primarily done BRRR and flips. I think it makes sense to use a GC and if you're not local have a real estate agent or a PM on the ground to check-in on the project very periodically. Having an investor friendly real estate agent, I think is really critical and has always been the first person on my team in any market. Your GC should have a very tightly written and agreed upon scope of work that details exactly what renovations are happening and the level/quality of finish you are looking for. Spend the time to make sure the scope is right and it's incredibly helpful to create a finishes guide that they can look back on to show exactly what you want done and how it should look. In terms of lending, let's talk more. Please DM me. I have options available where a flip could be funded up to about 90% of LTC (loan-to-cost) which means 85% of purchase price and 100% of renovation. You would need to have some liquidity in reserve, but let's talk more.

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  • Marc RiceBusiness Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2018 · 2k+ posts · 1k+ votes
    2y
    Quote from @TJ Fries:

    Hey everyone! I'm extremely new to real estate investing and house flipping! I haven't purchased any properties yet, and I'm looking at starting in Cincinnati! But I AM looking for mentors and to create a network of lenders (HML and GAP), investor friendly real estate agents, and contractors. And on that note, when flipping single family homes, would it be more advantageous to use a General Contractor or a Project Manager? Or do you, the flipper, contact each individual contractor for what needs to be done? I appreciate any input and network connections, and welcome anyone who I could trust as a mentor in my journey! Thanks everyone!


     Welcome! In general, a contractor still needs to be "project managed". Otherwise they'll get busy or not have what they need to succeed. Some GC's can do it all but its hard to find affordable ones who can. Usually starting with an investor friendly realtor is a great first step so that they can then connect you to a local rockstar team.

    [email protected]614-363-2787
    Marc Rice | Investor Friendly Agent at Reafco Tailwind Team574 Reviews
    WebsiteView Page
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  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
    2y

    Hey TJ, I shot you a message

    [email protected]859-443-4952
    Sam McCormack Realtor
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