SYSTEMS

6 Replies

Can someone help me in systems they use to get things rolling when finding that house they want to flip. I walked through a house yesterday it seems okay but i think i would really have to be on point with my repair cost, holding cost, etc for this to be a good profit. What is the first thing you guys do. At this point i dont have an llc or capital to fund the deal will have to use private money or hard lender. Not sure if wholesaling this one would be a good deal.

Have you rehabbed a property before? A hard money lender's expertise could be invaluable but the money is expensive. Wholesaling is a LOT less risky and you can learn something from a buyer. 

As for systems I can only speak to wholesaling, just take the contract and earnest money to title and then contact buyers. Not sure if that addresses your question but...

Have you read J Scott's book on flipping houses? He has excellent info on rehabs and setting up systems. I highly recommend it. 

Wholesaling is safer but if you want to get your feet wet on rehabbing,  I would try to find a good GC / investor to partner with for a project or two. You will learn a lot and benefit from someone else's experience. Second (third) on J Scott's books on flipping houses and repair costs. 

I use houseflippingspreadsheet.com very helpful and second partner with a contractor. 

Are you looking for a system or are you looking for multiple systems to help manage your business?