All Forum Posts by: L'Oreal Smith

Hello fellow BP members!!

I have recently (within the last 30 days) decided that I would do some whole sale deals (Dallas, TX) to build up my cash flow and at the beginning of next year start flipping. So I have been working with an investor and he has really been helpful in getting me started with whole saling and we plan on doing some deals together. So my question is: Should I have him sign something stating that he will pay me the fee that I have set in place as the finders fee? I don't want to spend countless hours doing work only to have him not pay me once  I find a property and he buys it? I have already avoided my first scam with a private money lender ( who was referred to me from someone on BP) so I want to cover all my basis. What other contracts should I have signed with my investors if any? Thanks for your help and feedback!! 

Hello Kim,

My name is L'Oréal,  im also a newbie with wholesaling from Dallas. Just wanted to say good luck on that contract and also thanks Devin for sharing what sounds like a lot of good info.

Hey Matt,

I have a contractor that I'm getting ready to do my first flip with and I asked him for written bid and he did let me know ahead of time that it would be a charge for a written bid. He told me that it is time intensive and it would probably be at least $400. So we agreed to do verbal bids at no charge. You might have to go ahead and pay him this time but I wouldn't do any work with him because that is something that probably should've been communicated...especially at $1100. Good luck! 

So Shannon! 

Give us an update!  How are things working out?  This is also my story!  Next week is my last week at my boring miserable nine to five :) 

Hello BP!! 

I am a new investor and of course I'm looking for contractors to work with. I need to know what are the right questions to ask and other things i need to look for? What are the"red flags" i need to avoid? Thanks so much! 

@John Baskin

Hello my name L'Oreal and I do remember reading about FHA investments in the and did to be careful with FHA bc they stipulations such as the 90 day own rule. I'm new real estate myself and looking to network in area, what of Tx are you in? I'm Dallas about 15 minutes from downtown. I'm interested in with someone on a flip. Your numbers look really good by the way!

Thank you so much @John P. for the advice, I am definitely taking notes and putting things into action.

Thanks for all the info @Paul Timmins

Hello everyone!

My name is L'Oreal and I live in Dallas, TX. I am a newbie to the world of flipping houses and to BP. I am currently not employed and my schedule is open all day each day except weekends. I have been reading about real estate and have attended one webinar so far and will attend the webinar tonight. So my question is what else should I do or be doing in the mean time what else can I be doing to build up my real estate knowledge? I was thinking of possibly hooking up with another flipper and start watching them do flips and learning the process from a Pro and see first hand how things go. I am also willing to help and volunteer on anything that I can do to assist with the flip. Thanks for your time, please feel free to inbox me especially if you live in DALLAS, TX! THANKS!

Hello Tarl!

Wow I absolutely loved hearing about your flip! I am very new to this but I've had a strong passion for real estate for 8 years now. Thanks for sharing the details about your flip I would love to connect with you and take notes!