All Forum Posts by: Trevor S Foster

This post is to see who thinks they're the most Active house Flippers in The DC, Maryland, Virginia Area?

Please give detail and insight into why you feel your the most active or best house flipper in our area. What do you do different from other? Do you flip houses in volume? Do you worry more about the actual overall look of the project? Do you feel your the best because your hands on?

Also I'd like to hear your opinion on what makes a good/great wholesaler, the person that brings you deals? If you could create the perfect wholesaler, what would they be?

@AlexDeacon thank you for response. So the fact that my grandparents have built their home and my aunt as well means nothing? The land I speak of is "next door" to their estates. I will still do my research but I feel as if that's a factor in all of this.

Location: Maryland

A quick back story. My grandparents own 15+ acres of land. Which they divided up to their kids and kept some. My grand parents have already built a 4-story home on 5 acres, including a barn, pool and guest house. My aunt built her own home as well on the land she inherited.

Now currently, my mother has out her 4 acres up for sale. The appraisal was done and came out to 140k. I believe up to 3 homes can be built.she is waiting for a buyer  now. 

Although I'm a newbie to real estate but I think it's a mistake to sale the land. I believe we should find a way to build homes on the land or gather up a team of investors and come up with a plan. 

Like I said I'm very new but I feel like this is a big opportunity to seize. There are custom homes being built in the same vicinity & multiple homes built and occupied. This part of Maryland is on the come up, homes, townhomes and condos are popping up everywhere.

Am I wrong for thinking there's a way to turn a bigger profit on the land, Other than just selling it?

Is there anyway we can keep the land as a bargaining chip to convince lenders or private lenders to invest in building?

Please any advice would be greatly needed on what my first step should be. I know there's a way but I'm new to all of this.

To make the situation even better, I WORK FOR A LUMBER COMPANY THAT PROVIDES MATERIALS TO BUILDING PROFESSIONALS & HOME OWNERS. This has to add leverage to my case that I can make this happen. 

I know this would be a big task but I won't stop until I figure it out and get it done or she ends up selling it because I can't put a deal together.

She has told me she'd give me the opportunity to atleast try and put this together. 

Advice is welcome.

My name is Trevor Foster living in Gaithersburg MD. I'm 28 with no kids working 2 jobs. My Full-time job just happens to be with a company called Barron's Lumber, we supply and provide materials for building professionals. In 3 years I've learned quite a bit about the process of building homes, buildings etc and what materials are used as well as why their used. Also with experience in restoration, renovation and emergency services I feel like I've found my starting point and goals. 

Being as though this is June 2017 I've planned out the things I want to accomplish by the end of this year.

-2017 GOALS-

Learn the in and outs of wholesale homes and flipping houses.

Learning how to complete wholesale deals. What's the best way to find a wholesalehouse and find a buyer.

Complete 5+ wholesale deals

Fix my credit & payoff old debt

Enroll in real estate classes/pass the exam for MD,DC & VA.

Network to find Buyers, Flippers, Owners, Lenders, Private Lenders or Investors, Agents. Good people who do good business.

Fix and Flip My first house.

Buy my first home - Duplex.

$10,000 in savings

Be my own boss and financially free to do whatever I choose.

Get better as a person

*End of 2017*

2018- Buy my mother a home. 

These are my goals and I feel all are realistic and attainable this year. I'm still working a full-time job and part time weekends but all spare time is spent reading and learning. While at work I'm listening to the podcast. I'm ready to learn and then go do it. 

If anyone has any knowledge they'd like to share, all is welcome. 

Especially on starting with wholesale. I feel like this is my first step (ofcourse finding buyers maybe first). I'd like to fix my credit and generate a cash flow. Also I feel like a fix and flip maybe a little to much for me right now. 

I need to understand what I do once I find a motivated seller. As far as what type of contracts to use so I can shop the deal around to buyers. Also what type of contracts do I make will the buyer ?

Advice on any of these topic will be helpful. I'm still learning, brand new to this but ready for all that it brings. 

If you are in the D.C, Maryland and Virginia area please don't hesitate to reach out, even if you feel like I can help you in any way or form.

Thank you for reading, comment are welcome.