All Forum Posts by: Xingchi Liu

Hi Guys! Newbie here wants some advice.

I recently came cross an opportunity, where a friend of my wife and his business partner plan to start a partnership to flip houses in NYC boroughs. I read their proposal materials and it seems like they've been doing fairly well since 2016, with >20 units flipped and ~25% annualized return. I looked up some of the examples provided and found all the information matches public records. They ask for 100K - 300K per LP seat.

Assuming they are not lying about past projects, do people think invest in partnership for flipping out of state (I live in California) is a good idea? What are some of the potential traps? All ideas/stories/suggestions are appreciated.

Thanks a lot!