Newbie from Cape Coral

6 Replies

Hello BP world! My name is Stacey and I currently live in Cape Coral, FL. I've been a long time BP user and podcast listener, but finally decided to post. I'm eager to get started into the investment world, but fear and the unknown seem to be the reasonI haven't started yet. I know we are all bound to have investments that aren't as good as others, but I'd prefer it if my first flip wasn't a flop. I'd like to know if anyone in this wonderful community would be willing to show me the ropes and ins and outs, hands on; a mentor, I suppose. I'm willing to work for free, just looking for the experience, knowledge, and expertise. Look forward to meeting you all.

Greetings! Glad to see you posting! Come join our local REIA. Their website is www.swflreai.com. It is a great place to network and learn.

Hi @Stacey Rivera welcome. I'm a newbie myself from Naples. Like you I have been a member and listened to the podcasts for a while and finally decided it was time to introduce myself and get started. Best of luck. There are quite a few locals here on BP. I plan on going the next REIA on Tuesday evening. Hope to see you there

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welcome to BP! Give me a call or shoot me a text with any questions. I am always willing to help. I am here in the cape so we can meet up at some point if that is better for you.

@Stacey Rivera

Welcome. 

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul 

Welcome to the party!

These guys who have replied above are some of the best advice givers I've seen here in this area. I don't know if any of them are mentoring at the moment, but I do agree greatly with the idea of going to a few REIA meetings.

As for your worries about flipping a flop... always make sure whoever handles your initial valuations knows what they are doing. I (and many other talented folks) can run one market analysis on a property and determined a fair market buy price and a fair market sell price. It's up to you to make sure that the difference between those two prices is greater than the cost to buy/sell, the cost to carry and the cost to repair/update. If those numbers make sense and leave you 18% or more on the back end, then I'd consider it a property to chase!

Best of luck to you as you enter this amazingly rewarding portion of your life!

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