Investor · Oakley, CA · Member since 2015 · 12 posts · 0 votes
Hi All,
I am new to BP community. I am a passive / part time real estate investor. have few rentals in the East Bay Area and have been thinking to get started into flipping. Any advice where to start. Also Any networking / partnership advice? Being landlord I see return of my investment slowly but steadily,and at the same time I am able to manage it after my full time work. want to know what is realistic expectations to set on level of participation, investment and return on flipping?
Welcome to BP! Congrats on having some income properties in the East Bay and successfully managing them while doing the day job.
The level of participation required when getting started in flipping really depends upon what your goals are and what you can leverage in terms of time, knowledge, and money. You'll need time, money, and knowledge, to successfully flip houses, but not all three need to be supplied by you. You can partner with people who have what you lack.
Do you want to be very hands on and active? This will require more time and a full time job time may be a limiting factor. Do you want to participate as a money partner and just fund or partner on deals? This would be more passive and require less time, but may not be as lucrative.
As far as networking and partnering are concerned, actively network and you will find partners (i.e. people how have what you lack and vice versa). Spend time on BP and use it to hook up with local investors. Also attend local Meetups and just talk to people. This is a relationship business and your network = your net worth.