Hi all, I'm based in the Los Angeles & Orange County, CA area and am interested in flipping homes.I have one quasi-BRRRR deal under my belt.About me:-Former Fortune 50 Commercial Real Estate Banker, specializing in distressed assets (restructuring/modifying notes, pursuing guarantors, foreclosing on assets)-Varying degree of experience in legal remedies (mediation, arbitration, bankruptcy etc.) with inside/outside counsel-$500,000,000+ RE transaction experience from west coast thru the mid-west-USC Business School Alum w/concentration in Real Estate Finance & Development-Licensed REALTOR in CA-Hands-on experience rehabbing real estate (full kitchen rehab, flooring, painting, spraying texture, removing load-bearing walls, bathroom rehab - have pictures from BRRRR project)[QUESTION] What is the proper approach to seeking a local mentor/partner on BP?

Develop a scope of work and estimate the cost yourself or get firm estimates from contractors. 

If it’s a value add core or core plus Freddie and Fannie small balance loans are probably going to be the best bet.For development heavy lift value add and adaptive reuse local commercial banks are the way to go Unless you want to use a HUD construction/renovation loan which is very time consuming but 40 year non-recourse very high LTC. 

These type of homes tend to not hold any value nor appreciate well UNLESS it's in a development area on the city Master Plan.  

This new development primarily will bring in tons of attractions of retail, restaurant and recreation.

I'm not a developer but have assisted in helping individuals get projects developed who don't know where to start.What does the area need and what is in demand?

I'm a software developer so I wrote my own system for keeping my books straight. 

I think starting with a method of developing comps so I can at least get an approximate ARV on some of these properties that keep popping up is a good first step.

Arturo Matamoros is their business development person and you might be able to find him on here. 

- More development in the making I.e: transit systems, jobs, schools, major retailers(walmart, Home Depot, Starbucks)- Consistent occupancy- Higher cash flow (appreciating as well)- Low average property value- USDA eligible- Safer - Recreational activities (city like) Thanks in advance for replyLooking for Property, want to make sure I pick the best area.