All Forum Posts by: Tommy Cangelosi

Hello everyone!!

My wife and I are under contract to purchase our first flip. We have been investing for about 4 years and have mainly done buy and hold. I’ve been a top producing agent in the South Georgia Market for the past 5 years, and couldn’t let this opportunity pass.

We are buying a foreclosure from HUD and are eager to get to work! I was wondering if anyone had any tips or suggestions for us? We estimate the rehab to cost around $12,500, but have budgeted out 15K for the rehab. We are paying 90K for it and I estimate we will be able to sell it for 138-145. It's on a gorgeous 3.6 acre lot near our local Air Force base. We plan on doing new floors, paint, appliances, painting kitchen cabinets white, granite counters, new light fixtures, new vanities in the bathrooms, and landscaping.

Any thoughts or tips would be greatly appreciated!! Thank you!

Hey Richard!

Send me an email for more info on the Valdosta market. I am a top producing agent here plus I am an investor myself. I will message you my email. Thank you!

Yes, unless you signed a buyer brokerage agreement. Sometimes the broker will release you from it if you let them know you’ve had a bad experience. She sounds lazy. If she doesn’t want to handle investment transactions then you could ask her politely to refer it to someone who does. She would make a little money on the deal too.

In my experience, when you are brand new to the rental game. It is probably in your best interest to interview a few property managers and hire one. They will negotiate their fee just like a realtor will.  They will help you get started.

Biggest problems:

Not making the repairs immediately(very important to show tenants that pay on time every month that you care about the house they are living in and in turn, care about them)