Investor 1year in Needing Tips

[Kay Sam]

Hi All! New to the investor world. Started fixing & flipping mobile homes in summer 2024. Didn't make a profit, however LEARNED a lot & didn't lose much (less than $5K if that). Now I've sourced HMLs, a few GC's in the Texas & Florida market & ready to keep pushing. I'm currently in my 1st deal with a SFH that I did as Fix & Flip & needing to get out of it ASAP. I want to make SOMETHING & obviously keep going to my next deal. Nice to meet you all & I hope to network. Hoping for encouragement as I'm going this alone which is challenging enough; therefore a likeminded group is necessary.

[Kerlous Tadres]

Hey @Kay Sam! I would recommend getting your current SFH sold fast, target cash buyers or other investors who want a quick flip. I'd suggest focusing rehab only on high-ROI items like kitchens, bathrooms, curb appeal, and safety issues; don't over-improve. I would also recommend running your numbers carefully to make sure the after-repair value, rehab costs, holding costs, and profit all make sense before accepting offers. For your next deals, I'd suggest locking in reliable contractors, sticking to a strict budget and timeline, and knowing your exit strategy upfront, sometimes a quick wholesale, sometimes a flip, or even a rental if it makes sense.