Hi everyone, I'm Dwayne Davis. I'm currently on my first flip on the island of St. Thomas, U.S. Virgin Islands. My primary RE market however will be California. Looking forward to learning as much as possible from the Bigger Pockets community and sharing my experiences along the way. Let's do this.
Welcome to BP. This is a wonderful resource.
Welcome to BP @Dwayne Davis Wow that is pretty ambitious doing a Virgin Island rehab from CA. I hope it goes well for you.
Welcome to BiggerPockets @Dwayne Davis
I hope that our site can help you with all of your real estate investing goals - we've got a ton of real estate investing resources here!
If I can be of any help to you with anything related to real estate investing or BiggerPockets, let me know!
Welcome! I suppose you will be visiting your flip all the time. Good luck!
Welcome to the BP family!
This is the right place to learn about RE investing!
Here are some recommendations for you:
Find and connect with other BP members in your area @ http://www.biggerpockets.com/meet
Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/
All the best on your first flip!
Thanks everyone for the warm welcome. Thank you Lorraine H for the list of BP recommendations. Looking forward to delving into those when I come up for air.
My apologies on the late response. It's the rainy season here on the island and I'm rapidly learning lessons on the importance of geographically relevant data in the planning stages.
Lesson 1. Do not assume cost averages for the continental US apply to an island. Figure at least 50 - 75% markup.
Lesson 2. Pay attention to rainfall averages. The island had experienced 4 months of drought before I got here, perfect for exterior renovations...now it's almost monsoon like weather.
Lesson 3. Have at least 3 alternate contractors per task. My contractor oversold his availability to do the work and now I'm having to do it myself, thank goodness for Craigslist...got a bunch of tools on the cheap and it's going well.
Lesson 4. Material supply. Make sure that the materials you figure on paper are actually available in the area you're in if you venture out of your kneck of the woods...alternatives can wreak havoc on your budget.
That being said, all is well and I'm back on track. Disclaimer: I may be late with most responses, I've been putting out one "fire" after another.
Key lesson: pad your budget, be resourceful, frugal and stay the course...it's raining again.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you