Updated about 11 years ago on . Most recent reply
Newbie here, First Investor meeting.
Hey everyone, I am a newbie in the house flipping game. I have studied, read books and listen to countless pod casts on flipping house. I am just about finished with "The Book on Flipping Houses" by J. Scott and Brando Turner from bigger pockets. I am knowledgeable about my real estate market in Traverse City, Michigan, I have a cousin that is a real estate agent, so i have access to the MLS, I have done research about what townships sell the most houses, at what prices, and the similarities about the houses sold. I feel I am ready for my first deal, I have been scouting, I went and viewed one, put together a cost analysis using the bigger pockets house flipping calculator, material, labor, holding and fixed costs and from that there was around $24,000 profit left after considering the loan at 10%. Well, i didn't have an investor ready and the house sold to someone else. Another great opportunity arose and was sold a few days later. At this point I need an investor ready to go, but what do i say to her to convince her I know what I am doing, considering that I don't have a deal right at this moment and that I have not flipped a house in the past. Please help guys, I am meeting her in a day or two. Thanks!!!
Most Popular Reply
Everyone asks "What's new?" Tell them. "I just missed a killer real estate deal because I couldn't get the money fast enough. If I could have found a lender at 10% I would have made $24K!" Say that around enough people and someone will ask "Gee how much would you need?"