Any house flipping mentors on here?

Question

Preferably rehab, but I'd also be open to a wholesale mentor. For a reasonable price?

J Scott · Answer

Yup, it's a hard business.

Tony Wooldridge · Answer

@Patrick Philip, it appears that we both are fairly new to the REI game.  I too am just starting out my REI business, which is primarily focused on Flipping houses.  I have not done my first deal yet but I am close.  One of the things that I have found helpful is listening to the Podcast (I have listened to half of them already starting at the first one, GR8 stuff!) read A LOT of post in the forums, read a lot of the books that the Podcast guest and @Brandon Turner and @Joshua Dorkin recommend while doing the Podcast. In case you haven't read them yet the books by @J Scott  "The book on Flipping houses" and its mate "The book on estimating Rehab Cost" are the most comprehensive books on rehabbing that I am aware of and will be more than helpful on answering most if not ALL of your questions.

I think it is great to ask questions and truly believe that there are not stupid questions but I am also a firm believer that prior to asking for anything you have to try and find the answer on your own cause this is how you truly learn and that lesson will general always stick with you.  So for me, by listening to the Podcast and reading the forums and reading the books I have been able to figure a lot of this stuff out on my own.  And when I cannot figure it out that is when I turn to BP (which I personally consider to be my very own personally MENTOR, cause it is always there no matter what!)

I guess what I am trying to say is make sure that you have put in the work, the time and the sacrifice and when you have done that I guarantee that through your actions and occasional questions Mentors , partners, coaches and colleagues will be seeking you out!  I wish you nothing but the best of luck in your 2017 REI ventures!  Thanks for allowing me to share

Stanley Parsley · Answer

a great plan leads to great success

you got this

you have a property yet?

if not go out and get you one and then make sure you stay on top of the little stuff- schedules and contractors- that's the stuff that will eat your lunch

don't waste your money on insider news- get yourself a project for you first- then try something bigger- a flip- see if this is something you want to do- its not all about the money you got to like it or you will never make it- like any other job either you love it and stay or you hate it and walk

it will definitely show up

I know people that thought they were going to get rich doing real estate and they live with their in-laws

make a plan and ask yourself some serious questions before you jump in

enjoy

J Scott · Answer

Mentors don't charge for their services.  Coaches do.

Mentors are there to help you when you have questions, get stuck or need some advice.  There are lots of people on this forum who can provide those services at no cost.

If you're looking for mentors, we're here.

If you're looking for a coach, expect to pay a decent amount, and I would recommend trying to find someone in your local market (real estate is local).

Octavio Garcia · Answer

I would advise to go to Home Depot make a list of items and prices like cabinets, sinks, tile, paint, Sheetrock, toilets vanity, water heater, boilers or baseboard heaters those are the main things you have to deal with inside the house. If you see walls are broken just make notes on how many sheets of Sheetrock u need, if cabinets are damage you will need to replace. And so on that way you can make an estimate of things that need replacement or repairs

Tony Wooldridge · Answer

@Michele Sidney of course I am more than happy to hear that this has helped you.  I certainly wish you the best in your search for your first deal.  Let me know if there is anything I can do to help.  Best of luck!  Thanks for reaching out

Michele Sidney · Answer

@Tony Wooldridge Thank you for your reply to his question. I am a newbie. I really need to hear this.

Thank you @Patrick Philip for asking the question.

Patrick Philip · Answer

I need to go see houses and get an eye for what actually needs to be done. At this point, I can't even accurately tell if cabinets need to be replaced. I can't entirely envision the end product. Hopefully this will come in time.

Patrick Philip · Answer

Okay I'll stick with the free stuff.

I feel like it's going to be hard to coordinate everything with viewings, inspectors, and contractors/handymen.

Any house flipping mentors on here?

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