All Forum Posts by: Samantha Vialpando

I can pull money from my primary residence, but I would like to try to JV with someone as a capital partner and split the profits. I think it would be a great way to learn and build rapport.

0 Votes

Colorado Springs, Colorado

Quote from @Jordan Malara:

@Samantha Vialpando I would have to agree with a lot of others here that there is likely a good reason that this has sat on market for so long. Most good opportunities are either quickly snatched up on market or found off market. However, these are general assumptions so maybe you have found an opportunity that most have just glanced over, however, I would just expertise extra caution since this is your first deal.

As for your question on timing of events, depending on your situation these things can be done all at once. Most of the time, I don't bring a contractor out to a property until the inspection period of the contract (1-2 weeks after going under contract). It is best if you can get financing before going under contract as most sellers aren't going to look at your offer without proof you have financing. With a hard money lender, a pre-approval can be acquired in 1-2 days usually. Ultimately, where people get stuck is they feel they need to have everything figured out before they go under contract and this couldn't be more false. The escrow period is meant for due diligence, so you can figure stuff out during that time.

Feel free to reach out if you have any questions. I'm in the Springs as well and am happy to help out as needed! Good luck!

Thank you! So many people give different advice on the timing of events, it gets confusing! I feel like Colorado Springs is such a tough market for a new person. Deals get snatched up so fast!

1 Vote

Colorado Springs, Colorado

Update - My contractor is walking the house with us Thursday morning. I spoke to the realtor and it seems like the seller is just unwilling to come down much on the price right now which is why it's still available. I figure they will have to eventually and I can just keep submitting my offer Haha! I think it's a bank owned situation or deed in lieu of foreclosure from what I can tell from the assessor's website.

Thank you all for the good advice, I am working on talking to PMLs and HMLs in the meantime to build relationships!

1 Vote

Colorado Springs, Colorado

Hi everyone! After lurking and reading and listening to all the things, I decided to take massive action.

I found a house that I (think) I want to flip in a neighborhood I am very familiar with. If I can get it at the right price, it will be a great first flip opportunity. It looks to be mostly cosmetic. It's been on the market for 158 days so I don't think it will go anywhere this weekend, but I am worried it will and my contractor can't walk the property with me until Wednesday next week. What should I do? Wait and hope it doesn't go under contract? I also want to use OPM, but don't have anything lined up. You have to have the deal before you get the money, right? I'm just stuck I guess at the right order of the steps I need to take.

Any and all hep is appreciated! Thank you!

5 Votes

Colorado Springs, Colorado

All Forum Posts by: Samantha Vialpando

Samantha Vialpando has started 1 posts and replied 4 times.

Post: 1st Flip! Found a house I want, what next?!

Post: 1st Flip! Found a house I want, what next?!

Post: 1st Flip! Found a house I want, what next?!

Post: 1st Flip! Found a house I want, what next?!