All Forum Posts by: Andrew Davis

@Leo Goykhman 

Firstly, congratulations on pursuing your dream!  Bigger Pockets is a RE education in and of itself, and I have learned so much here in such a short time.

Your goals are very ambitious, which is great!  I know I have the tendency put a bit too much pressure on myself, and be really impatient; and that's when I tend to make mistakes.  

A few suggestions:

Check out the Ultimate Beginner's Guide

http://www.biggerpockets.com/real-estate-investing

Check out this blog post by Chad Carson (just posted today), I'd say it's just about perfect for where you are.  He strongly advocates, and I do as well, investing a few full time months in your RE education.  Think of it as a language immersion program, but for RE.  I'd say if you just followed the advice in the post, in 3 months you will have a fantastic foundation for your career.  

http://www.biggerpockets.com/renewsblog/2014/10/22...

The podcasts are an education in and of themselves, I probably listen to one a day and take something away from every single one.

Your background is fantastic for REI. Knowing how to interact with people, market yourself and your products (properties) and being able to identify inefficiencies will all serve you very well.

I wish you the best.  I'm just starting out as well so feel free to reach out.  I'd love to be an encouragement and resource to you on your journey.

All the best!

Andrew

@Tyler S. recommendation.  They are an investor friendly title company and will get it done for you!

@Paul Doane 

Funny, I just posted the same thing this morning!  I'm getting a few bids for my current project, and I will keep you updated with my experiences.

Side note: you can search the forums for what you're looking for, i.e. "orlando contractor"

You can also set up keyword alerts to be notified when someone posts about something you're interested in.

What are you looking to do in Orlando?

Hey BP Community,

I'm looking for a great GC in the Central Florida area that does work in Orlando.  Also need a good architect.

Any referrals will be much appreciated, thanks!

@Joshua Dorkin Thanks so much for the response, I will definitely search the threads in the future!  Looking forward to the update... BP is my new FB!

@Wendy Vaidic 

I don't know if there's a regional difference, but I would definitely say a large tile walk in shower. It's also going to depend on what you plan to sell the house for and if it fits in your rehab budget. We're working on a flip right now and will be doing a large tile walk in shower with double shower heads. However, we are looking at an ARV of 400k. If it was sub 200k, we'd probably be thinking differently.

Good luck!

@Julie Kern Congratulations on getting started and welcome to BP!  You have chosen to engage in a fantastic community, and you will find most here to be very helpful and knowledgeable.

You are definitely on the right track and are doing all the right things. Letting people know that you are investing in RE, making connections with potential partners and contractors, listening to the podcasts and educating yourselves. I've heard it said that all wholesalers have the same disease; they overestimate ARV and underestimate repairs. I have met some great wholesalers, and some not so great. They can be a great resource, but it's also imperative that you do your own due diligence, which you are doing, well done! While you generally wouldn't work with an agent on wholesale transactions, you definitely still should in general. A good agent that is also an investor (this is imperative!) will be a valuable resource for you. They will be able to share market trends; ADOM (Average days on market), new listings, existing inventory, and can certainly come across great deals for you.

I would strongly suggesting getting @Brandon Turner 's book, 'The Book on Investing in Real Estate with No (and Low) Money Down'.  If you get the whole package, you get access to hours of interviews with wholesalers, in addition to everything you would want to know about wholesaling detailed out in the book.

http://get.biggerpockets.com/nomoneydown/

Additionally, both of J Scott's books are beyond helpful when it comes to flipping and estimated repair costs.  I think you can get all 3 for less than $100, and if you read nothing else for the rest of your investing career, you will be in good shape!

http://get.biggerpockets.com/flippingbook/

I don't get any commission by the way:)  I have read a lot of Real Estate books, and have found the BP books and guides to be the most practical, informative and detailed of any I have read.  

Your local REIA is a great place to start, I have made some fantastic connections in the short period of time I have been attending meetings.

Hope some of this was helpful, feel free to reach out!

@Bryston Wisekal 

I would definitely recommend CFRI (Central Florida Real Estate Investors). They are a nationally accredited REIA, and one of the top 3 in the country. Lot's of great meetings, focus groups and workshops. I've been a member for a couple months now and have found it very valuable.

@Brandon Sturgill firstly, sounds like you really can't go wrong.  Have you thought about doing a light fix up and a lease option.  If it's a desirable rental neighborhood that might be the best of both worlds for you.  You could get the equivalent of an assignment fee up front with the option fee, collect rent for a few years and then get even more cash out of it with less expense when you sell it.  Since all your cash is tied up elsewhere, you may be able to get the owner to defer the payment for a year, get a tenant in there and refinance to pay him off.  Since he's been sitting on it for so long, he may be open to it.  Just my 2 cents... I love stuff like this, so keep me updated on your progress!