All Forum Posts by: Yasmine Bisumber

Thanks so much for your feedback Bryant! I think you are right, I did plan however on researching each property so maybe I wasn't clear. The reason I would say 2 flips to every 1 rental would be because I am looking to maintain a healthy cash balance at any given time so the over all ratio goal is 2:1 but I will not limit myself by passing up a rental opportunity because I haven't done 2 flips yet. I hope I am making sense. 

I think it is smart to do as you said an chose an area where I would like to hold rentals and have that separate from the zones where I flip. That will allow me to have a clear path and plan. I hadn't thought of that. 

Question: You don't find it hard to flip properties for retail in war zones? Wouldn't they sit on the market to long? 

@Bryant Moran

I thought I would share my goals and plans for Real Estate as they stand now. I’m interested in receiving feedback from others in the business. I am pretty confident in my plan, however I am love to interact, share and bounce ideas off of others. So here it goes!

Simply put, I want to flip houses. I also want to mix in long term rentals and use that as my retirement plan. So this is what I plan on doing; for every 2 homes flipped I buy 1 rental. Using money from my business to make more money in the long run. I work full time at the moment but I hope to build enough momentum in order to both live comfortably off of profits from flips as well as invest a good portion of those profits into my rentals.

I am looking to flip for 2-3 years exclusively. Not planning on buying rentals during this time. Instead I would like to build of that cushion of capital I will need to start the long term rental business. After the 2-3 years I will implement my 2:1 ratio mentioned above.

Because I am not exactly cash heavy at the moment I plan on using a combination of Hard Money and Partnerships to fund my ideas early on. As I grow and build a track record I will transition into private money and use of my own funds while maintaining healthy partnerships.

My goal is 6-9 flips in the first 3 years. I am not sure if that is pushing it but I will scale it down a bit if need be. Or hey, if things go really well I will ramp it up a bit and probably speed up the process.

For now I am sending out letters to absentee owners as well as door knocking with a local investor I’ve connected with here on BP. For me he is filling to role of a mentor. I can ask questions and get real answers and he also has access to resources I do not at the time. We also drive for dollars, in doing this he has already taught me a great deal about what to look for and what to after I see a property that fits the criteria.

So, yeah. That’s my plan.

Any feedback on how I can improve?

Adam! Here is a warm welcome to BP. Make yourself at home, stay active and get engaged. I wish you the best of luck and a ridiculous amount of success. 

Hello there, reach out with any questions. Happy to help and connect. 

Thanks so much for sharing, we see a lot of success stories but it was great to stumble across a success story that has pretty much everything to do with how amazing BP is. This just goes to show that this site is doing exactly what it was intended to do. 

Wishing you more and more success int he future! Happy investing.

Awesome, congrats to you both. Kudos to BP and those who make it possible for is to network through this site. 

I am so glad I stumbled across this thread, thanks for sharing and keeping us updated.

If you don't mind can you break down the numbers so far?

Money spent on marketing vs. money made at this moment? For me South FL seems a but tough but it looks like you have a really go plan working for you. 

Way to go, and kudos to you and beating the prices down. Thanks for sharing.

Hi Nelson, you are doing exactly what you need to get started. Educating yourself. If I can help in anyway let me know.

In the meantime,  good luck! 

No books to recommend as of yet. 

@Dev Horn

 Haha yes, I believe he lied. His post was way to insightful.