All Forum Posts by: Grace Wang

@Matt I. All properties will have issues that show up in the inspection report, and turnkey properties aren't the exception. Depending on the flipper, the flip may be a POS or really well done. Sounds like yours might not be done so well haha. If the seller is a chuck in a truck and he jumped into flipping because the market has been extremely forgiving, you might be stuck with these issues plus some more after closing. Could you ask the seller for seller concessions? Doing so will give you more control over the quality of the repairs. 

I was in this situation a year ago and the property is still giving me issues. However, it's beautiful and cashflows well so I don't regret it. 

There are some really amazing flippers out there, so don't let this turn you off from flips. You're allowed to be picky up to a certain extent. It all come down to numbers, right? So be picky where you need to be, but if the deal works it might be work sticking with. Good luck!!

@Zachary O'Hara you could flip furniture on FB. Get free things off Facebook marketplace or craigslist and then resell them for a profit. Goodwill or a thrift store are also great places to snag some deals. Another idea is putting your car on Turo as well and for the days you're not driving, someone could be paying you to use your car.

@Noah Cull Welcome to BP! Since real estate is all about relationships, start attending local REI meetups if you haven't already. Attend those regularly and you'll start building a network of people with similar mindsets/goals. As you chat with people you might realize some investment strategies sound awful, and others will really align with you.

@Sarp Ka I agree with Brian Walters. Look up the county's property assessor or tax assessor sites and plug in the property address to find the specific property details. Sometimes you can look up the county's GIS system and they'll have all the information. If all else fails, call the county and have them direct you on how to find that information.

@Jason Tassinari check out The House Hacking Strategy by Craig Curelop, Set for Life by Scott trench. I also like to read books on psychology, personal development, and books on business. A lot of principles in those genres will relate to real estate; much of real estate is about business and relationships. Some personal favorites: Start with Why by Simon Sinek, Never Split the Difference by Chris Voss, Think and Grow Rich by Napoleon Hill, How to Win Friends and Influence People by Dale Carnegie, Talking to Strangers by Malcom Gladwell. Good luck!

@Mariah Porter in an expensive market, creativity comes into play. Connect with local house hackers or investors and see if anyone in the local market is cash flowing. In the denver market, it's not uncommon for house hackers to airbnb a portion of their home, and long-term rent another portion of their home. Keep exploring options and stay excited about house hacking!

@Gloria C. RentRedi also has a background/credit check feature, and the applicant is responsible for the service fee!

@Alex S. Depending on your market, you might have an awesome tenant pool on Facebook marketplace and various Facebook groups. Try the Roomster app as well. I've gotten pretty great results using these platforms.

@Jasmine Russell I'm the same way! my coaches were books, podcasts, and real estate meetups. From there I jumped into house hacking and rehabbing my first property. This forced me to apply any knowledge I gained from my "coaches", and to learn anything new along the way. The sooner you start, the better. If you get cycled into the vicious cycle of analysis paralysis...who knows when you might start investing! 

@Reegis Sanche Depending on how much equity you have in the property this could be a great or a terrible idea. Would it be enough to purchase another rental property? I would chat with your lender to see how much you cash you'd be able to pull out!