Specialist · Houston, TX · Member since 2016 · 29 posts · 11 votes
Hey!!!
I am so excited to be getting my flipping business started here in Houston. I bring over 20 years of interior design and remodeling experience to the table and am in the process of strategizing my target market, working on business logo and marketing tools, analyzing properties, building my team and determining my business goals for scaling, funding etc. LOTS TO DO! I am taking lots of little "building blocks" action steps but CAN'T WAIT until I can make my first offer! Also, looking for a mentor because as much as I have learned in such a short time, I really have no idea how to close that first deal I make an offer on! Lol, Any advise for this newbie would be much appreciated! Blessings, Christine
Developer · Houston, TX · Member since 2015 · 1k+ posts · 1k+ votes
10y
Hi @Christine Heartsill, welcome to BP. There is definitely lots to do and lots to learn. But don't get caught up in trying to do everything at the outset. You don't need your business logo and website, etc, right now. You don't need to worry about scaling the business just quite yet. Read some of the free information and tons of posts on this site. Don't spend a lot of money with any guru/mentor just yet. And get out there and meet like minded folks at the various meetups held daily throughout Houston.
I'll be at this one coming up on Monday, Sep 12. Look for me if you come on out.
Developer · Houston, TX · Member since 2015 · 1k+ posts · 1k+ votes
10y
Hi @Christine Heartsill, welcome to BP. There is definitely lots to do and lots to learn. But don't get caught up in trying to do everything at the outset. You don't need your business logo and website, etc, right now. You don't need to worry about scaling the business just quite yet. Read some of the free information and tons of posts on this site. Don't spend a lot of money with any guru/mentor just yet. And get out there and meet like minded folks at the various meetups held daily throughout Houston.
I'll be at this one coming up on Monday, Sep 12. Look for me if you come on out.
Investor · Willis, TX · Member since 2014 · 245 posts · 124 votes
10y
I agree with Michael. Don't spend a bunch of time on logos and business cards at the beginning of your business. Begin analyzing deals, looking at options, learning the intricacies of flipping so that you can get a good idea of what the numbers will look like. The more houses you look at, the more comfortable you will be with what a piece of property will sell for (both rehabbed and not). It's only in conducting this deep dive that you will be almost instantly be able to tell if a property is a good deal or not. I once did a deal for a few thousand bucks and I have to admit that it was such a time-suck and such a long, drawn out process that though I "made money" it certainly didn't feel that way. I'd be happy to share my experiences in the Houston market with you.
Specialist · Houston, TX · Member since 2016 · 29 posts · 11 votes
10y
Thanks @Michael Le for the advise!! I am not going the guru route, though I may welcome a mentor/partner on my first deal or two!! I understand your sentiment about logos and scaling the business as I hear it often in these REI circles, however I am building a business not intending to do this as a hobby. As I understand business, no one would ever say just jump in without a plan...not usually how businesses are built so that is what I am doing..."all things decently and in order" (1 Corinthians 14:40) to ensure the best success of my business. I do intend to get all those things in order before I begin marketing myself and buying and selling properties because my business "brand" is very important to me. Some would say that I am not taking action, however I take action every day and have come quite far in my planning. My next step is to understand the contract and title process so I have even more confidence going into my first deal. Thanks for the encouragement and look for me at future events (quite possibly the one you listed!!) Cheers!
Spring, TX · Member since 2016 · 70 posts · 13 votes
10y
Howdy @Christine Heartsill and welcome to BP. Im up on the northside of Houston in Spring/The Woodlands,TX area.If you ever need to network up there hit me up
Begin analyzing deals, looking at options, learning the intricacies of flipping so that you can get a good idea of what the numbers will look like. The more houses you look at, the more comfortable you will be with what a piece of property will sell for (both rehabbed and not). It's only in conducting this deep dive that you will be almost instantly be able to tell if a property is a good deal or not.
Thanks for that insight Juan! I have been doing TONS of analyzing properties! It's actually a lot of fun running the numbers and determining how to proceed.
Rosenberg, TX · Member since 2016 · 29 posts · 9 votes
10y
Hi @Christine Heartsill. I'm also new and have found myself in a bit of analysis paralysis. I'm headed to several REIAs and meetups over the next three weeks to break myself out of it. I need to meet some folks who have actually done what I want to do instead of just reading about it.
I hope to see you at some of them.
Valli Smith
Real Estate Investor · Los Angeles, CA · Member since 2013 · 2k+ posts · 694 votes
10y
Welcome to BP Christine Heartsill Definitely get plugged into the local meetups, and figure out how to research and pull the trigger on deals without getting stuck in analysis paralysis.
I hope you are able to get things going soon! My husband and I just started this whole process a month ago and are close to getting our first deal!! I would say I am moving pretty quickly all considering (especially since school just started and I homeschool half the time- which is also why I am looking into scaling the business as I NEED help, I don't have a ton of time to put into it but want to grow quickly) I have heard that it has taken some successful investors months before they close on their first deal so don't lose hope! I will watch for you at networking events. Let me know if you want to go to lunch sometime. Do you have a mentor?