All Forum Posts by: Brandon Ribeiro

@Steven Foster Wilson I definitely will! Thanks again

@Steven Foster Wilson hey, for my first flip I’m ok with taking the bad end of the stick. I ultimately want to keep my financial partner happy, because id like to continue working with him, and eventually just use him as a lender once I gain his trust. Worst case scenario I still walk away with my commission! But id be ok with that as an absolute worst case scenario because its a learning experience 

@Steven Foster Wilson well its a flip, so we’d be rehabbing and selling it. Since I’m a real estate agent I would be making commission on the buying of the property, and again on the selling side. I would be the one to list it

@Steven Foster Wilson this would be my first one. I have construction experience and would be using my friends construction company which I trust

@Steven Foster Wilson thank you for your advice. I did forget to mention the house is completely gutted and they started re-framing. According to the agent, they were supposed to be finished with this flip but then covid hit and really messed them up with the contractors not being able to work and such.

So the house is gutted, all new subfloors and its about 90% framed. I liked it because that way there is no surprises with taking down drywall and finding a nightmare, there literally is not a single sheet of drywall in the house

So I've managed to find a financial partner that is funding 100% of the deal and 100% of the rehab. I found a shell SFR that I can get for 100k and it will need an additional 100k on the high end to be completed. I pulled comps at 280 for a similar property, but I think I should be able to sell for 290 in this market should it continue for the next 6 months.

Any additional info can be provided, I didn’t want to load this post with numbers and info. Is anyone able to help me analyze this deal or give me their opinion?

@Kobe Xin you use them for anything else?

I was contacted by a young, hungry for success college grad that wanted to see how he could help me in my real estate business in exchange for knowledge and mentor ship.

He connected with me on here (BP) and is located in NY while I am located in PA.

How could we work together efficiently while being remote for one another? He is saving up money for his first rental property. I was thinking of hiring him as an assistant and could give him lists to call off of for potential investment deals or even listings for my real estate agent side of my business

@Steve Vaughan great, thank you. Are there any specific strategies that you have in mind with this type of scenario?

@Steve Vaughan so what are you suggesting?