Investor · Fort Myers, FL · Member since 2012 · 462 posts · 200 votes
I will use this forum post to document my journey to my first six figure flip....Hopefully. I will post before, afters, info on how I acquired, why acquired, and the process in general. At this stage in time the home just went on the market.
I purchased this home for $365,000 and it is currently listed for $649,000.
Please feel free to ask any questions. Let's start with some befores-
Not a contractor. We shop everything. We get great discounts at Lowes for product. Our subs take good care of us. We do whatever we can to save money without compromising the product.
I'm a newbie and this is great motivation for myself. Can you shed some light on the wholesale aspect of this transaction. Does the wholesaler assign you the contract after he's negotiated with the bank and once you close on your deal he/she is paid?
Well Brit Foshee this makes sense. I saw you conversating with a newbie a few days ago & I thought u just gave him great advice & encouragement. Now looking at this, it's easy to see your good deeds and due diligence I might add has put you in position for glory of this magnitude. The house looks great & looked good from the word go! This was an awesome deal & by looking at the before & after, I'm positive you will get what you want for the house. Few questions I have is do your deals usually happen this fast? (From buying contract to closing). And how important was this wholesaler to you in this deal?
Thanks for the kind words, friend. I aim for a very quick turnaround on all my deals. I'm always pushing my guys for faster. (without cutting corners) Most of that comes long before closing. I'm gathering bids/materials/choosing finishes, so when that baby closes we have a dumpster in the driveway and we get moving.
The wholesaler is always important. I don't do a ton of birddogging myself anymore, but I rely heavily on wholesalers to bring me deals!
So as a newbie myself one of the best ways to get started is to offer my "boots on the ground" services for guys like you. Would that be a proper assessment? I'm fresh to the whole idea of REI & just from BP forums & podcast I know it will take time educating myself. But it seems like offering my services to help someone else grow there business is exactly how I could jumpstart mines!!! Thanks for sharing @Brit FosheeI'll definitely be on EVERYTHING I see you post!
I'd agree with that assessment. Go find a deal and wrestle it to the ground. Get it under contract and then bring it to some investors. They WILL pay you for it if it's truly a deal.
So as a newbie myself one of the best ways to get started is to offer my "boots on the ground" services for guys like you. Would that be a proper assessment? I'm fresh to the whole idea of REI & just from BP forums & podcast I know it will take time educating myself. But it seems like offering my services to help someone else grow there business is exactly how I could jumpstart mines!!! Thanks for sharing @Brit FosheeI'll definitely be on EVERYTHING I see
@Brit Foshee, you did an amazing job making this house so beautiful! Very inspiring! I am an absolute newbie here at BP and I must say I am so inspired by your work!
@Brit Foshee this looks like an incredibly top-notch, professional job from top to bottom. Not only the quality of the work, but the efficiency required to complete it in that short amount of time is awe-inspiring. Congratulations! I'm sure it will pay off big time.