All Forum Posts by: Christina Morgan

I also heard some horror stories of flippers having funding pulled at the closing table.  Typically with traditional financing, but in the very beginning even other funding was pulling out last-minute with the uncertainty around exit strategies.  Sounds like you have not had that issue, which is great news.  Are you finding there are more deals, less deals or about the same as before mid-March?  To my surprise, finding a deal has still been very challenging, at least in my area.  Thanks for sharing your experience.

Meetup.com has information on lots of local REI groups. Sign up, find some meetings, attend with a stack of business cards and start networking. My local meetups bring together real estate agents, flippers, wholesalers, designers, stagers, financing people, landlords, property management companies, contractors from every possible specialty, etc.

 Hi Jerryll.  Can I ask where on BP you're providing advice?  I would love to keep reading more of what you have to say.  Can you submit some articles to BP?  It would be great to hear you on a podcast.  Seriously, point me in the right direction.  I'm ready to learn!

Write into the deal enough credit on the purchase price to allow you to pay the tenant to leave.  I've heard of investors paying tenants 3 months rent plus a moving truck to vacate the property by a certain date.  Terms are all negotiable, but it seems to be the 1 thing that works every time.

@Rick Rudman

I am also interested in knowing what markets you are working in.  I'm assuming the stats you provided were focused on the Washington DC market.  Please send me a private message with details of your business, contact information, website, etc.  Look forward to learning more about your business.  Thank you.

I think I'm convinced to give it a try now.  Thanks everyone for sharing your thoughts and feedback.

 Awe Travis.  You're supposed to answer here so we can all learn from your experience.  I'm also very curious about syndication investing.  Frankly, it scares me to not be in control of my investment, but hey, I've got money in a 401(k) so...

Also, for everyone else following this post, I listened to a podcast yesterday related to this topic.  The podcast: How to Lose Money.  The host: Paul Moore (frequently writes articles here on BP).  Episode 97: How to Lose Money Investing with the Wrong People.  I am still searching for the podcast that answers my questions about how to vet syndicators.  If anyone can point me to one, I'd really appreciate it.

Hi Annie.  Let me know if we can help.  We are flippers in the Richmond area.  New flippers, but my husband has over 30 years experience in construction.  He can certainly work with you on your vision for the property and give you an estimate for completing the work.  If you have pictures, etc., feel free to send them.  Thanks and best wishes in your job search!

That's a relief to hear.  It's not just me and some of these Wholesalers might be pretty good.  Some of their deals might work for someone looking to be a slumlord, but can't be flipped for any profit.  Thanks for the feedback Eric!

 So true!  Once a website has information on a property, it's basically not an off-market deal anymore!

Looks like I'm going to stick with local networking, which seems to provide the best leads (and is the most fun anyway).  I'm just struggling to find that awesome Wholesaler.

Thank you for the response!