When will I know it's time to buy that first fix/flip..

[Mark Mathews]

Hello BP,

I've been away for a while as far as posting, but constantly reading and gaining knowledge from this wonderful site. Lately my business partner and I have done a lot of research into the correct way to buy fix/flip properties and how to have target areas unto which we want to work and stay w/in the parameters that we set forth to make a good profit. We have partially finished our business plan and will be getting our LLC in the next 30 days. For some reason, I feel stuck. Are we on the right path, am I missing something? There is a local REI (GLREI) in our area and we attended one of the events and were really thrilled to see how many investors were so willing to help and give great advice!! They stressed the importance of creating a great team and that really made a lot of sense and we have been trying to get this together. But my question/problem is....When will I know to pull the trigger and purchase that first flip? The knowledge is coming together but I am so nervous as to getting a property and it doesn't sale.....OR, it is on the market for longer than the time we projected to sell? In our business model, properties will be funded through private lenders or hard money lenders (with some capital invested by us), so time is of the essence in these deals. Can I get some suggestions as to are we on the right path or are we missing something. Any advise would be helpful....