All Forum Posts by: Tina Glover

Great partially remodeled house in the highly sought after Mt. Streets of Clairemont in San Diego.   Would make a great flip. Needs approx. $30,000 in rehab - new kitchen, 1 bath and some flooring/paint.  Has high end dual pane windows, a great roof, central forced air (no wall heaters) and a brand new water heater and is in a great neighborhood.   And no popcorn ceilings either!  $649,000 OBO.  Please email, text or call me if interested!  

Looking for your next 1031 exchange before the end of the year?   Now you've found it!!  This house in located in the much sought after Del Cerro neighborhood of Central San Diego, which is one of the top school districts in San Diego, is beautifully remodeled and boasts 4 bedrooms and 2 baths with RV parking, large backyard and 10-15 minutes from everywhere (beaches, downtown, hotspots, etc.)  Would make a great rental as it can rent for approx. $3200 a month, which would easily cover mortgage.   Please call, text or email me if interested.  

@Monica Sanchez - I feel your pain Monica!  I just finished (and am now in escrow on) my first flip and it was love/hate all the way!   Loved it because it was successful in the end and I've been wanting to do it/preparing for it for it seems like forever, but hated it because of unrealiable contractors and subs (who didn't feel the need to show up for days each time they would get a draw) and the stress involved with having to finish some things myself due to aforementioned subs.   Also, being broke at the end of the flip was not fun!  But I also made a profit, albeit not as large as yours, due to the fact that I am in San Diego and the competition here is fierce and margins smaller.  But I will definitely do it again.  Been looking for my next one since I finished the last one!   Congrats on your success and keep it up!!  

Hey @Ryan Biankowski!  Awesome on taking your first steps!  I'm by no means a veteran, but am working on my first flip.  I financed the purchased via private money (but also had a really great hard money lender lined up).  I am paying for the rehab with about $15,000 of my own $$ and about the same in credit cards.  Managed to get about 6 of them at 0% for 9-21 months.  Plenty of time to pay off and pay no interest in the meantime.  You should be able to do the same if your credit it good  Go to Credit Karma and check out Citi Simplicity, Citi Diamond Preferred, Barclay's, Chase Freedom. Your credit scores will take a hit temporarily when you use them for the rehab, but when you sell the property, you can pay them off.  However, I would definitely recommend spending some time beforehand learning as much as you can about your market and learning about rehab - as mentioned in other posts, J. Scott is the master and you should definitely pick up both of his books.  I'll be the first one to tell you this is by no means easy - but it's definitely worth it and fun as hell if you decide it's for you!   Best of luck to you!!

Hi all!   Can anyone recommend a good (read:  reasonably priced) insurance company/agent for hazard/liability insurance on a rehab property (vacant) in San Diego, CA?  So far, I've gotten one pretty outrageous quote, but since it's my first flip, maybe I just don't know any better and this is par for the course on flips.   Any and all responses are much appreciated!!  Thanks!

@JScott - thanks sooo much for the info on categories of expenses for flips.  I am about to close escrow on my first one and this will come in very handy rather me having to re-invent the wheel!  

Hey Jennifer - I also went to the 3-day FB seminar and it was one of the main things that got me over the "hump" of wanting flip houses (for about 10 years!)  to actually taking action.  In other words, it really got my r.e. juices flowing!!   I feel that if you can sit through the whole three days without getting bored to death, then you will know that r.e. investing is the right choice for you. That said, I avoided the sales pitches at every turn and definitely did not take them up on any further coaching.   There are lots of other ways to learn what you need to know - BP being a major one of them.   It's not easy and it will take time, but can be done if it's something you find you really have a passion for!  Good luck!!

Me too Kevin!   I may be able to make a meet up this Saturday.   Thanks!

Excellent advice @Manolo D.!   Thanks so much for the hot tip!  My handyman/painter (who is out of Burbank) has also found some other potentially good cabinet deals in Corona and L.A. so I'm looking into those as we speak.   Great info.  Thank you!

@Samuel Botts - go to Home Depot, like I did.  At least in San Diego, a fair amount of flippers seem to get their kitchens (or various components for their kitchens) there as the HD kitchen consultants will tell you. You can give them rough measurements, e.g., 10 ft. x 10 ft. or something similar, and they will price it out for you.   Probably don't try this on a weekend - they will be way too busy.   But if you go at the right time, they can give you a very good idea of what a kitchen would cost depending on your size and chosen materials and you can then pretty accurately ballpark your flips/BRRRs from there.  Like @Scott Schultz, I also always add a 20% fudge factor.   It's a little peace of mind!  Good luck!