All Forum Posts by: Lauren N Sellers

@JRiley Thanks so much! Yes, I have been looking and seen a few gems there as well. There is one in Pottstown that looks particularly good to me at that exact price-point. My guess is it's the same property. Did anyone say that it was an auction? My thought is it might be. If not, I will have a much closer look. Thanks again!

Thanks for the warm welcome everyone! 

@Thomas Franklin Your breakdown was so incredibly detailed, insightful, and awesome. Thank you SO much. I am going to print out the message, put it in my flipping notebook, and refer to it often. Wow! I really appreciate it. Thanks again!

Greetings from Yardley, PA Everyone! 

I have been mostly on the sidelines of BP watching and learning while growing an interior design/home staging business. However, my bigger vision has always been to become an investor and flip houses.

2017 will be the year that I take the plunge. I would love to gain hands on experience in my intended market and would be happy lend fellow investors everything from my design skills & home staging knowledge to a helping hand sweeping up and cleaning out. I want to learn and I know this form of education is priceless. 

I hope to connect with agents who can help show me properties who'd be willing to add to me off market buyers lists, fellow investors in Philly, Bucks, and Montco, and other like-minded individuals looking to establish a strong network. 

I am currently interested in Philly- Cedarbrook, Wyndmoor, Stenton, and parts of West Oak Lane- row homes or twins. Primarily 3/1s --Starting small. Also seeking deals in Norristown--19401 and possibly Pottstown 19464.

Experienced Philly Investors/Flippers--- Do you find it more challenging to flip in Philly than the burbs? I've connected with several investors who refuse to flip in the city. Just want to make sure I'm not missing something. 

BP is awesome and I plan on learning all I can. Looking forward to hearing you! Thanks!

Tom, 

I really appreciate the detailed step-by-step advice, and I love that I can start implementing some of this immediately.

I have step 1 pretty well nailed down....the other 5 I've gotta get movin' on.

Thanks so much for your insight!

The first time I jumped into real estate was 2008 just in time for the crash. I had no capital and no experience. You can imagine how that ended...

Over the next few years I stepped back from real estate and built an interior design business which has been great, but my dream has always been to flip houses. 

I want to create beautiful affordable homes where people can have something they never thought was possible. I've worked extremely hard to achieve this in interior design but at the end of the day, I have a bigger vision.

Through working with investors, clients, realtors, etc., I've created a rich network of wealth and knowledge that is all around me and now have a few investors willing to show me the ropes with rehabs which I know is an incredible opportunity. That is not lost on me.

Here's where I'm stuck. The investors I am loosely working with are not promising anything (which is fine). They've given me their flipping criteria and said if I find a deal and if the numbers work, we can do a deal. One of them wants me to find off market properties specifically because 'everyone has access to the MLS.'

Also, their flipping area is 2 hrs away from me and they want properties that are outside of the niche I want to eventually be in? Do I do it anyway to gain the knowledge and possibly a partnership?  

I don't have all the capital I need to complete a flip but with having my own business, I know that hustle is an absolute. If I can work hard enough and smart enough, I think I can access the funds I'd need, but the education is priceless.

Also, for the investors I am willing to lend my design skills and bring an insane work ethic to the table to get a deal done. 

Question: Are the stated issues above even "obstacles?" Do I need to shift my perspective? Do go I forward and find houses for them that may or may not result in a deal? Or do I utilize their mentorship but do a deal and break into my own niche? I don't know what to do and it's keeping me awake at night.

Suggestions?

@Willow T. Congrats Lady! You crushed it! I am thrilled for you! I will complete my first flip this year and you've helped inspire me. I am an interior designer and have had the same idea to sell furniture in homes that are for purchase. 

Question: How did you handle it when someone wanted to buy a piece? Did you let them take it on the spot or did you wait until the house was sold? How would you have handled it if the house would've sat for a long period of time? These are questions I was unsure about when I considered a similar option. Thanks in advance and congrats again...truly extraordinary!

@Stanley Okazaki Thank you very much!

Thanks for your feedback everyone. It sounds like researching out some HMLs and getting some questions answered is a good place to start! I really appreciate the feedback!

Hello all. Novice looking for guidance here. I need some basic advice on structuring a deal with a hard money lender. Is it better to have your investment parameters in place before going to hard money lender or seeing what their parameters are and working within them? Which comes first? Finding a deal or finding the lender? Thanks in advance.

Thank you Curt. Listening now!