Newbie in Orlando

[Natalia Collini]

Hello! Newbie here. I've been creeping around on the site for over 10 months but haven't made the commitment to participate until now. So hi!

I am a mother to 5 children six and under and we recently moved to Florida after living up in Nome, Alaska. We have finally gotten ourselves settled in and we are ready to start the next step of our journey...investing in real estate. 

Our short term goals are to flip houses and use the profits to purchase buy and holds. Longer term goals include apartment complexes. Creative financing will be a must for us but we are determined and we shall find a way!

Right now I'm still in the education stage but I am starting to feel like I'm ready to move on to the next phase. Finding deals (and partners) and getting started. 

I'm also working on getting my real estate license. 

I'm excited to be getting involved here finally, and I look forward to connecting with you all in the days to come. 

Happy investing!

~Natalia

[Thomas Franklin]

@Natalia Collini Since you are interested in fix and flips, I propose the following action plan. The first step would find an Investor Friendly Realtor assuming you do not have access, to the MLS. I would suggest that you interview several Realtors and ask them the following questions, to ascertain if they are truly Investor Friendly, or if they are throwing you a sales pitch.

1. How many investors do you currently work with and how many investors have you worked with, in the past?

2. How many transactions have you closed, with investors?

3. Do you currently own any Investment Properties? If so, what type do you own?

4. Are you a member of any REIAs?

The next step would be to work with the Realtor and determine the hot markets, in your County, with the greatest number of sales over the last 90 to 120 days. Personally, I would prefer 90 days because markets are always changing. This list would contain the zip code and corresponding name of the municipality, and a breakdown of the number of SFRs. This will be your Farming Area. From this data, you can utilize a website bestplaces.net that will give you a breakdown of the percentage of homes that sold, in various price ranges, for a given zip code. This will identify the retail price ranges, in which you can list the rehabbed property and the price ranges, of distressed homes, you should target.

You can use the Realtor to help you find deals and also use Wholesalers. If you acquire a property, from a Wholesaler, once the property is rehabbed and ready for the Retail Market, allow the Realtor that provided you the zip codes, to list the property for sale. This creates a WIN-WIN Situation and gives the Realtor incentive, to work harder on your behalf.