All Forum Posts by: Mindy Jensen

Fantastic news, @Ariana Dean! Congratulations on the first deal, and here's to many many more!

Welcome to BiggerPockets, @Travis Schofield.

The Twin Cities are well-represented here on BP, so you should have no problem finding local investors to connect with. 

Have you set up your keyword alerts yet? Reserve at least one for your local area, to keep up with conversations and connect with investors in your area.

There is always another deal... Great reminder, @Tracy Mason

I am licensed, and the access to the MLS is awesome.

BUT

Know how much it is going to cost before you start.

Well, @Leon Cumberbatch, I do almost all of my own work. My process is going to differ from yours because I don't have the labor costs out of pocket. I also live in my flips, so my holding costs don't factor in the same way because I have to have a place to live anyway...

A partner may be the best way to start flipping houses. Have you attended any meetups in your area? Networking with local investors can give you more insight to your area.

@Leon Cumberbatch, how much experience does your agent have? If they are an experienced flipper who says $30-40K, that means a whole lot more than someone who is just guessing.

If they are just pulling numbers out of thin air, and your margin is slim to begin with, it is very easy to go over budget (in fact, bet on going over budget on your first flip) and erase all your profits.

But therein lies the catch. You can have a great contractor go with you to the project, write up an estimate, and then his numbers don't work so you don't make an offer. Repeat a few times, and all of a sudden, he isn't answering your calls because he feels you are wasting his time.

On the other hand, if you don't know how much it is going to cost, it is difficult to make an informed decision. 

Why is the property 130k less than market? 

Welcome to BiggerPockets, @John Renken. 

I would suggest setting up your keyword alerts to include local areas to start networking. Search the site to see if there is a meetup nearby.

The forum is full of welcoming investors, both new and experienced. Interacting in the forums is an excellent want to meet people as well.

Welcome to BiggerPockets, @Johnny Batista. You know about our forums and podcast, but did you know we also have a blog? Written by investors for investors, it is yet another source of great information. Check it out here.

Hey @Brian McCarron! Welcome to BiggerPockets. 

You say you're looking for information? Well you have come to the right place. To get started, check out our Blog, written by investors for investors. You can start reading from the top, or scroll down and pick the topics that interest you most.

Do you know we have a Podcast? I like to listen to it during my commute and while I am working on my house. 

Have you set up your keyword alerts yet? Reserve at least one for your local area, to keep up with conversations and connect with investors in your area.

Poke around the site and read what interests you. Have a question you can't find an answer to? Come back to the forums and ask. The members here are so helpful.

@Kaitlin Holmes, it sounds like you are thinking things through. Perhaps having an attorney look over the contract to make sure everything is accounted for would be a good idea - especially if this is your first deal. I'm really excited for you!