All Forum Posts by: Antonio Jones

Im on the heels of my first Fix & Flip. Im partnering with a good friend thats been flipping homes for years. I'm looking to update and flip the home I live in now as my first flip. We've plotted this out, developed flexible but consistent rehab schedules, crunched all numbers several times to make sure this all makes numerical and profitable sense and everything checks out. I will not be occupying the property, but i understand there is still some risks. Has anyone here ever used a residence they lived in, as property for their first flip? If so, do you have any advice you can offer?

Congrats on the purchase. Gonna stay tuned in as well, thanks for sharing this.

Major congratulations to you. I LOVE reading stories like these. Was feelin super down in the dumps today and this was the perfect pick-up. Thank you.

@Arianne L. Ive never quite read someone's success story told from a place of "exactly how we did it". This just gave me the most reassurance Ive ever received. Congratulations on all your success, and thank you sincerely for sharing your story in the form of this roadmap.

Originally posted by @John M.:

@Antonio Jones I think it's great you are asking those types of questions, I think new investors can get overly excited in the beginning and end up jumping right in blindly just to get their first property.  I think that's a huge mistake, you don't want to end up in 6 months with a post in the BP "investor horror stories" section ;).   

One thing that has helped me is I stick to the rule that I won't buy something that I wouldn't feel safe living in myself.  Life is uncertain, and if something happened to my income and I had to move into one of my rentals that could always be an option.  Urban areas of mid sized cities are my preference for that because they are close to jobs, shopping etc but I also need to get a feel and vibe for the area so I don't end up in a high crime neighborhood where nobody is safe leaving their home just to get the mail or walk to their car.  So that's why being familiar with the area is so important.  You are your own best judge so the less you have to depend on Realtors, property managers etc (who are pushing you to buy to make a buck) to make those judgements for you, the better off you will be.

 I think thats a vital move thats often overlooked: keeping in mind, "would i live here myself?". Thats golden. I see how easy it is to focus solely on the numbers. That thought of "would i live here?" can help keep you grounded in calculation as well. Thank you so much for that. I surely didnt look at that and thats probably the most conmonly senseful way to even start the consideration of a property.

@Matt K. and @John M. Thats amazing. Congratulations on the first and second deals outside of your normal footprint area. I'm following that move right now. Thats awesome.

When you (investors) choose to pick up a rental property out of state, how vital is the knowledge of the subject's area to your decision making? Do you spend time visiting the area first before a purchase, or are these cases where its main dependence is just in the numbers? I guess Im asking, do you make purchases in areas you know nothing about just based on the numbers, or is there some kind of vetting process that goes in play first before even considering the numbers?

This is good motivation. Thank you for this. @Nick Colvill

Good day to you Ben-

No requests here other than an extension of friendship. Feel free to reach me if I can help you with anything. Im a wholesaler here in Cincinnati looking to build with others of this community.

-Antonio

@George Blower thanks George. Nice to meet you.