All Forum Posts by: Wes Woodhouse

As @Brandon Turner always says, "Don't just learn, do." Keep setting goals and doing what it takes to achieve those goals.

Most impressive and inspiring! From chopping up firewood to creating consistently cash-flowing assets, thats an awesome story. 

2.4% is awesome!

GET PAID!! 

Great job thanks for sharing!

MMM is the Man!

Just make sure if you start out self managing, you account for PM costs in your analysis. That way when you are ready to hire a PM the numbers still work.

Killer deal! Congrats @Jason Woodson!

Take the free money!! Absolutely take advantage of the employer match!

Awesome job @Amit Patel! Thanks for the post

Heres my 2 cents on your questions:

1: It really depends on the deal whether 100% financing will work. Like @Cody Evans said, look at properties using the 70% rule. If you are buying at enough of a discount compared to the ARV, 100% is a viable option. But if you're buying retail, you're setting yourself up to go upsidedown with even the smallest of market adjustments.

2: If the numbers work a flip could be a good way to make money to put into future deals. Emphasis on the numbers working. Do your homework on the all the possible expenses and ways the property might go over budget, which roll into #3

3: Where to get the money for the fix up? If that is not a solid part of your plan you are doing it wrong. Read some articles on flipping, read the book, listen to all the podcasts. Armed with all the knowledge you have been getting "day by day" you should know there are far better ways to account for and finance the cost of fixing.

As @Dave Ramirez I suggest you continue to educate yourself and come up with a plan. Study the location you intend to invest in and get a feel for the market. But have a plan that accounts for financing the deal, the fix, and the sale.