Lender · Los Angeles, CA · Member since 2017 · 38 posts · 13 votes
Hey BP!
I'm Clay, and for the past 5 months I've been reading/listening to Bigger Pockets and working for a private money lender. In 2018 I want to become more active in the community and take the necessary steps to invest in a fix & flip property myself.
Any Austin or Los Angeles investors looking to grow their network? Also, how many investors have taught themselves how to rehab the flip? What would be your primary tip or warning when teaching yourself how to DIY projects?
Welcome to the group, Clay! Since you're in the Westside, I recommend you check out the Santa Monica BP meetups (2nd Saturday of every month) and we also host one in South Los Angeles on the 3rd Saturday of every month. PM me for more details; again, welcome!
@Clayton Danly - Excited to have you as part of the community. I'd encourage you to look into any local BP Meet Ups in the Los Angeles area. That is always a great way to make connections.
Best thing to do is manage your expectations, especially on a first flip. Too many people expect a fortune out of their first flip and won't settle for a slightly lower return on their first investment when all of their costs should be estimated most conservatively. Once you have a few projects under your belt and have a more precise idea of what particular rehab items cost then you are more likely to have luck pushing your expectations a bit higher
@Clayton Danly Very interesting, I'd like to know more about lending and how it works, that is my weak point - building/managing credit and leveraging. If you're interested, I'd like to meet for a long conversation and get down to specifics. Ask me any construction practicals and I'll ask all the insights of money lending or money borrowing.
Welcome to the group, Clay! Since you're in the Westside, I recommend you check out the Santa Monica BP meetups (2nd Saturday of every month) and we also host one in South Los Angeles on the 3rd Saturday of every month. PM me for more details; again, welcome!
@Clayton Danly welcome from a fellow BP newbie as well! I’m in the same boat as you looking for my first fix and flip in the LA area (though I’ve done several live in flips). If you ever want to network or just bounce off ideas sometime, shoot me a pm as I’m in the Westside area as well.