Investor Questions and My Background (Indiana)

Investor Questions and My Background (Indiana)

Member since 2019 · 2 posts · 0 votes

Hello!  I am so EXCITED to find a place like this, as flipping homes has been a dream since I was young!!  The real estate market has always INTERESTED  AND EXCITED me!!!  I am a person not afraid to get my hands dirty and do some work myself to save money as I has been living in fixer-uppers and remodelling them myself for years. (And I'm a little bit of a perfectionist so I will only take on jobs myself that I know I can do, and do WELL!)  I've grown up as a "daddy's girl" and learned many things while helping my father, like how to sand, stain, drywall, paint, caulk, do trim work, and much more.  I've since learned how to install flooring, any kind of trim (I own multiple types of saws),  open up walls to create a more open concept, paint cabinetry, build tables, ect.  I do wainscotting or board and batten  (I believe it's called) to quickly and easily add character and charm.  I've done feature walls of shiplap, and less expensive materials that create the same look.  And, professionally, I have been in the world of kitchen and bathroom construction and design for a total of about 9 years.  I feel that I also have an understanding on design and the importance of staging.  (I plan to purchase, on my own, staging and furniture for a flip, and store it in my large garage and reuse it for different homes)  I have a college degree, but in a different area.  I began going the business management route and so I have taken many math and english classes up to Calculus and Finite and English Composition II, which I took at Indiana University and earned at A+ in!  Plus, with a solid background in math, I feel I'm good at budgeting and planning.  Then I switched to Nursing and graduated with a degree in nursing (and made the Dean's List)  But I have figured out that my heart still lies in the world of construction or remodelling and real estate.  I am about to read the free beginner's guide that is offered on here and take notes and study it and am willing to read, study, and learn whatever I need to in order to be successful in this field.  Whether it's reading books, taking certain college courses, or obtaining a real estate or broker's license, I'm willing to do whatever it takes.  My 1 problem....needing to find an investor.  I'd like to do some of the work myself to save money and increase profit if it makes sense to the investor to do it that way.  I was hoping to find an investor that would purchase the home, I'll take care of contracting and do some work myself, and then split profit after the investor is paid back, rather than having an interest rate pile up every day.  Is that possible?  And regarding other learning materials, are there any suggestions on a really good book or class I should be studying?  And should I work towards a realator or broker's license?

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  • Mt. Laurel, NJ · Member since 2019 · 12 posts · 2 votes
    7y

    Welcome @Lindsay Davison 

    Sounds like you have a solid background that will be a big help in getting you started!

    -paul

  • Member since 2019 · 1 post · 0 votes
    7y

    What a great background Lindsay and it sounds like you know where your passion is in life. What I would do is focus on the investment side and go to your local meetups and REI meetings. Network, meet people and get knowledge of what people are looking for. I believe that will be the place to find partners and build relationships. Regarding your license, I believe Indiana you are a salesperson for some time then you can go for your brokers license. In my opinion, don't overwhelm yourself with getting a license but rather building a network. You will meet Realtors that can help you with information like comps, mls stats etc.. Starting out, focus on one house at a time, one deal at a time and don't paralyze yourself looking to far ahead into the future.

  • Member since 2019 · 2 posts · 0 votes
    7y

    I am not asking to make a deal, but I'm just curious, are there people that make deals like that?  Where they pay the majority of expenses, I do the work, and profit is split.  Rather than going to a bank and having to worry about interest building up every day?

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