New to flipping

[Kimberly Kelly]

Hello! New to this forum and community. I'm currently a real estate agent but my husband and I are just now starting to dabble with the ideal of flipping. Have renovated and remodeled many of our own homes over the years and want to diversify my real estate business. My broker recommended this site and I'm excited to spend time on it and get to know the community as I know I have much to learn. 

[Jonathan Taylor Smith]

Hello @Kimberly Kelly - Will you only be flipping properties, or might you also want rentals?

[Monica Williams]

Quote from @Kimberly Kelly:

Hello! New to this forum and community. I'm currently a real estate agent but my husband and I are just now starting to dabble with the ideal of flipping. Have renovated and remodeled many of our own homes over the years and want to diversify my real estate business. My broker recommended this site and I'm excited to spend time on it and get to know the community as I know I have much to learn. 

 Hi Kimberly,

Welcome to the world of REI! BiggerPockets is the perfect place to be to learn all about investing, flipping, and much more. I'm an agent for investors in the Philly area, if you ever have any questions about anything, I'd love to connect and help you in any way I can!

Good luck with everything, 

Monica 

[Robin Simon]

Quote from @Kimberly Kelly:

Hello! New to this forum and community. I'm currently a real estate agent but my husband and I are just now starting to dabble with the ideal of flipping. Have renovated and remodeled many of our own homes over the years and want to diversify my real estate business. My broker recommended this site and I'm excited to spend time on it and get to know the community as I know I have much to learn. 

 Congrats - you've come to the right place!

[Kimberly Kelly]

@Jonathan Taylor Smith I'm wanting to get a few flips under my belt, then ideally eventually move into short-term rentals, such as airbnb. Just what I have been considering anyway - do you have other recommendations? Thanks.

[Nathan Harden]

Well, you're in one of the hottest investing markets in the country at the moment. Also, have a huge influx of jobs over there so people will be paying a premium. 

[Kimberly Kelly]

Quote from @Nathan Harden:

Well, you're in one of the hottest investing markets in the country at the moment. Also, have a huge influx of jobs over there so people will be paying a premium. 

True! My broker is helping me get started as he’s a seasoned investor and has offered me tons of advice! Been wanting to do this for awhile, but have been working another full-time job the past several years in addition to being a full-time real estate agent so really haven’t been able to focus on it. As of June 1st though, I’m officially retiring from that other full-time gig as a high school principal and focusing all my attention on growing and diversifying my real estate business! 😊

[Dave Skow]

@Kimberly Kelly- thanks - welcome ...unless  you plan to use cash for your plans - I recommend getting  your financing outlined and in place  ...get pre approved for whatever  scenario you are  considering in order to  * get organized  * educated and  prepared ...good luck 

[Kimberly Kelly]

Quote from @Dave Skow:

@Kimberly Kelly- thanks - welcome ...unless  you plan to use cash for your plans - I recommend getting  your financing outlined and in place  ...get pre approved for whatever  scenario you are  considering in order to  * get organized  * educated and  prepared ...good luck 

Thanks Dave! Already working on that part of it. Couldn’t agree more that having a plan is key! So excited to learn more on this forum and appreciate any other advice you can give!

[Dave Skow]

@Kimberly Kelly- welcome ...get pre approved for the high end of the range you are considering..this way if you end up needing to stretch ..you will have this covered ...good luck

[Jimmy Lieu]

Quote from @Kimberly Kelly:

Hello! New to this forum and community. I'm currently a real estate agent but my husband and I are just now starting to dabble with the ideal of flipping. Have renovated and remodeled many of our own homes over the years and want to diversify my real estate business. My broker recommended this site and I'm excited to spend time on it and get to know the community as I know I have much to learn. 

Hi Kimberly, I'm a local investor and agent here in Columbus Ohio and have completed quite a few renovations, BRRRRs, and flips myself! There's so many great flip opportunities here in Columbus Ohio. This past week, I went under contract on two flips for my client and he has a 100k+ flip margin for both properties! I'm happy to introduce you to any GCs, property managers, lenders, or anyone that you personally need. Warm welcome and happy to have you here! Also, if you have any questions or want to connect, feel free to reach out!

[Mackaylee Beach]

Welcome to BP!

A great place to expand your knowledge and network.

[Remington Lyman]

Quote from @Kimberly Kelly:

Hello! New to this forum and community. I'm currently a real estate agent but my husband and I are just now starting to dabble with the ideal of flipping. Have renovated and remodeled many of our own homes over the years and want to diversify my real estate business. My broker recommended this site and I'm excited to spend time on it and get to know the community as I know I have much to learn. 

 Welcome to BiggerPockets

[Tommy Parker]

Congrats on starting out! This is a good place to be.

[Steven Foster Wilson]

Quote from @Kimberly Kelly:

Hello! New to this forum and community. I'm currently a real estate agent but my husband and I are just now starting to dabble with the ideal of flipping. Have renovated and remodeled many of our own homes over the years and want to diversify my real estate business. My broker recommended this site and I'm excited to spend time on it and get to know the community as I know I have much to learn. 

 Hi Kimberly, the fix and flip strategy can be a profitable venture if you've done everything correctly. You may want to make sure that you follow these top 4 tips that I have:

1. Do your research - Before purchasing a property, make sure you conduct thorough research on the location, the property's condition, and the potential cost of repairs. This will help you make an informed decision on whether the property is a good investment.

2. Know your renovation budget - You don't wanna overdo or underdo a property. Focus on the right improvements that will add value to your property.

3. Know your after repair value - The goal of flipping is to make money so you have to make sure you're not covering your all-in cost and you're actually making a profit

4. Time your sale right - When the market is favorable and the demand for housing is increasing, that's the best time to do it. This can help you avoid having to list your property for too long. Hope this helps and best wishes to your real estate journey! 

[Dmitriy Fomichenko]

Welcome to the BP family @Kimberly Kelly ! Glad you joined the best real estate investing website!

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...

Wishing you the best!

[Kimberly Kelly]

Quote from @Jimmy Lieu:

Quote from @Kimberly Kelly:

Hello! New to this forum and community. I'm currently a real estate agent but my husband and I are just now starting to dabble with the ideal of flipping. Have renovated and remodeled many of our own homes over the years and want to diversify my real estate business. My broker recommended this site and I'm excited to spend time on it and get to know the community as I know I have much to learn. 

Hi Kimberly, I'm a local investor and agent here in Columbus Ohio and have completed quite a few renovations, BRRRRs, and flips myself! There's so many great flip opportunities here in Columbus Ohio. This past week, I went under contract on two flips for my client and he has a 100k+ flip margin for both properties! I'm happy to introduce you to any GCs, property managers, lenders, or anyone that you personally need. Warm welcome and happy to have you here! Also, if you have any questions or want to connect, feel free to reach out!

Hi Jimmy! Awesome - thanks for reaching out! Nice to meet you and I might just take you up on your offer - would love to pick your brain sometime. 

[Kimberly Kelly]

Quote from @Steven Foster Wilson:

Quote from @Kimberly Kelly:

Hello! New to this forum and community. I'm currently a real estate agent but my husband and I are just now starting to dabble with the ideal of flipping. Have renovated and remodeled many of our own homes over the years and want to diversify my real estate business. My broker recommended this site and I'm excited to spend time on it and get to know the community as I know I have much to learn. 

 Hi Kimberly, the fix and flip strategy can be a profitable venture if you've done everything correctly. You may want to make sure that you follow these top 4 tips that I have:

1. Do your research - Before purchasing a property, make sure you conduct thorough research on the location, the property's condition, and the potential cost of repairs. This will help you make an informed decision on whether the property is a good investment.

2. Know your renovation budget - You don't wanna overdo or underdo a property. Focus on the right improvements that will add value to your property.

3. Know your after repair value - The goal of flipping is to make money so you have to make sure you're not covering your all-in cost and you're actually making a profit

4. Time your sale right - When the market is favorable and the demand for housing is increasing, that's the best time to do it. This can help you avoid having to list your property for too long. Hope this helps and best wishes to your real estate journey! 

@Steven Foster Wilson - thank you so much for the fantastic advice! I'm soaking in as much info as I can right now and I'm in the research phase - trying not to become obsessed with it, but it's all I'm spending my free time doing right now. 

[Steven Foster Wilson]

Quote from @Kimberly Kelly:

Quote from @Steven Foster Wilson:

Quote from @Kimberly Kelly:

Hello! New to this forum and community. I'm currently a real estate agent but my husband and I are just now starting to dabble with the ideal of flipping. Have renovated and remodeled many of our own homes over the years and want to diversify my real estate business. My broker recommended this site and I'm excited to spend time on it and get to know the community as I know I have much to learn. 

 Hi Kimberly, the fix and flip strategy can be a profitable venture if you've done everything correctly. You may want to make sure that you follow these top 4 tips that I have:

1. Do your research - Before purchasing a property, make sure you conduct thorough research on the location, the property's condition, and the potential cost of repairs. This will help you make an informed decision on whether the property is a good investment.

2. Know your renovation budget - You don't wanna overdo or underdo a property. Focus on the right improvements that will add value to your property.

3. Know your after repair value - The goal of flipping is to make money so you have to make sure you're not covering your all-in cost and you're actually making a profit

4. Time your sale right - When the market is favorable and the demand for housing is increasing, that's the best time to do it. This can help you avoid having to list your property for too long. Hope this helps and best wishes to your real estate journey! 

@Steven Foster Wilson - thank you so much for the fantastic advice! I'm soaking in as much info as I can right now and I'm in the research phase - trying not to become obsessed with it, but it's all I'm spending my free time doing right now. 

 That is awesome! I would try to find a mentor as well then you can have someone to bounce your ideas off of and help lead you in the right way. I have surrounded myself with RE people and it has really helped grow me and my business. 

[Sayem Vilayet]

Hey there, @Kimberly Kelly! Glad to have you here in the BP Community. I too am new to this community and also a Columbus local too! Just dived into my first major rehab, so if you need any tips or insights, I'm here to help. We own a couple of short-term rentals in Ohio, so feel free to pick my brain about that too. Let's connect and learn together!

[January Johnson]

Quote from @Kimberly Kelly:

Quote from @Nathan Harden:

Well, you're in one of the hottest investing markets in the country at the moment. Also, have a huge influx of jobs over there so people will be paying a premium. 

True! My broker is helping me get started as he’s a seasoned investor and has offered me tons of advice! Been wanting to do this for awhile, but have been working another full-time job the past several years in addition to being a full-time real estate agent so really haven’t been able to focus on it. As of June 1st though, I’m officially retiring from that other full-time gig as a high school principal and focusing all my attention on growing and diversifying my real estate business! 😊

Welcome to BP!  I used to be a middle school teacher and assistant principal in my former life.  Real estate suits me SO much better!  :)