All Forum Posts by: April Thibodeaux

Hello everyone,

I have been looking at properties and this one caught my eye today, I am wanting some opinions from others. It's a 2 bed 2 bath, 1602 sq ft home in a nice neighborhood where house sales average 180k. It suffered flood damage from hurricane Irma. All bad drywall has been removed according to the description and pictures. The rest of the house looks good from what pictures show, even the tile floors. The listing price is $89,900. The sellers estimates are 30k-40k in rehab and ARV 179k. An additional bedroom would be a good idea if it fits. The house sits on the creek that the subdivision is named after. Any opinions are welcome, I really like the look of this house and I feel like it could look great with some work. This area has under three months of supply and this is one of the nicer neighborhoods in it.

Thank you everyone for the input, this is exactly why I came here. It looks like I would be better off investing my time in continuing to collect knowledge about REI rather than pursing either license. I do think a good real estate agent will be very helpful to my journey and of course it wouldn't hurt to have someone more experienced than me assist with the first deal.

Thank you everyone, I have been looking in my area at homes, I guess now it's time to look more at  my options for lenders. 

I definitely wasnt planning on putting an offer in without money, but more wondering if I should find where I'm going to get that money before looking for homes, or wait until I find a good deal that I can present to someone who may be willing to cover the costs. I am looking into my local REIA meetings to possibly meet someone who I could contact if a deal comes up.

Hello everyone, I am keeping an eye on local listings to see if anything amazing catches my eye while I learn more about REI. Now, if I do see a deal that I believe will make money after looking at the numbers, should I try to find someone interested in funding it? Or should I be looking for those people now so I can call when those deals come up? I apologize if these seem like stupid questions but I want to succeed here.

I have looked at private money lenders but it seems it will be difficult to get someone to pay 100% purchase and rehab being that this is my first flip. I believe I would have to use hard money, so if anyone has suggestions for lenders you have used please share. Any information is welcome, thanks!

Thanks for the advice, Nick. I will have to see about some local REIA meetings here soon once I learn a little more.

Yes you guys are completely right, the four years experience I need to get the GC license would probably give me what I was hoping to get out of the license. As for the Realtor license, I was not thinking of it as my main income, that would hopefully be houses, but more like a tool I have to use for the flipping. As mentioned though it may not be worth it to maintain a realtors license for the little bit I would use it. Thanks for the quick responses!

I am new to REI and trying to learn all I can before trying to find my first flip and finding funding for that flip. I am wondering if it would be worth it to get either a real estate license or a general contractor license. I feel that a real estate license will help me learn a lot more through hands on, but a GC license will save a good bit of money on bigger rehab projects. Any input, relevant or not, is welcome.

Thank you, James. There is definitely a lot of information here in the community, now just for me to learn it myself. 

Hello everyone. I am very new to REI and still in the learning stages. If I had the cash I would probably be learning as I go, but I am looking to gather as much collective knowledge and info as I can until I can get hands on experience. I have ordered The Book on Flipping Houses, just waiting for it to arrive now. I have been reading over the forums and blogs as much as I can. If anyone has any recommendations on certain topics I should be focusing on or other helpful learning materials it would be much appreciated. I am in the North Central Florida area, just NW of Gainesville. I am glad to be in the BP community and I look forward to getting started.