All Forum Posts by: Andy Bankston

I got two rehab properties under contract to purchase, and hope to close on both of them in the next 2 weeks. This will be rehab projects #2 and #3 for me, so the learning curve is about to get a lot more steep!

If you haven't already, head over to J Scott's site at 123flip.com and check out the Education section. There's tons of invaluable info there for newbies. Reading through that helped me tremendously as I got my feet wet, and I still visit there occasionally because you can literally learn something new every time.
If you've already been there, My only advice would be to make sure you find a contractor who'll be willing to give you "investor pricing" with the understanding that you need to make money in order to continue to send him more and more business. Especially since it sounds you're starting out with some additional overhead from the get-go with the interior designer etc. A lot of contractors still treat you like you're going to be living in the home and price the work at retail accordingly.
I'm sure others more experienced than I will be along shortly to offer more advice. Good luck!

I wonder if he knows there are really 58 states?...

Sorry Naga, It should be done now. Not sure why it didn't go through the first time.

Thanks everyone! Naga, I received and accepted your request after you sent it. Part of my plan is to add rental properties, so I'd love to connect with you and maybe pick up some tips later on.

Yes Don, I work 13 hour night shifts at the hospital so this will be a challenge. I'm already going off 3-4 hours sleep each day this week trying to get everything finalized on this deal, so Monster Energy drinks have become a dear friend of mine!

What could possibly go wrong???

I just got The Playboy Mansion under contract to purchase. (No, not the real one unfortunately). I am venturing out into new waters here in two ways. 1: I'm going to be conducting two rehab projects at the same time. Go big or go home, right? 2: I'm going to have to explore funding options for the renovations. I have someone who is interested, but I'll have to meet with him to see if we can make it work.

Agree with Dave. I'd put it in a the closet, add a pan with floor drain.

Hope everything is OK, Michael. Let me know if you need me to translate any of the medical-ese.