[Backofm3]

I'm looking to get into real estate investing for long term fix 'n' flip.Basically just looking for advice on any area of the topic.How it works,the business perspective of things,what to look for and things to stay away from.I'm also looking to network with some people if it's possible and learn more about investing in real estate.Any help with be great appreciate it!

[Dan I Am]

Fix n' Flip is tough right now. Properties that make good candidates are hard to find becasue there are so many people out there looking.

Do you have any history with costing construction projects or remodelling? If you don't, I would recommend working with some contractors first so that you know what you are getting yourself in to.

[Backofm3]

Originally Posted by Dan I Am

Fix n' Flip is tough right now. Properties that make good candidates are hard to find becasue there are so many people out there looking.

Do you have any history with costing construction projects or remodelling? If you don't, I would recommend working with some contractors first so that you know what you are getting yourself in to.

Thanks for the advice please elaborate more on construction project and remodeling like how does that work? and how can i get into it? Benefits,cost,etc..

[Dan I Am]

Originally Posted by DBS06MSBm3

Thanks for the advice please elaborate more on construction project and remodeling like how does that work? and how can i get into it? Benefits,cost,etc..

To be any good at fix and flipping, you need to be able to walk in to a property and within an hour have a pretty good idea of what it is going to cost you to remodel it. If you can't do that, how will you know what to pay for the property?

You also need to be familiar with the real estate market in the area so you have a good idea of what a fixed place is going to sell for when you are finished. It's simple math, but if your numbers are wrong it will cost you a lot.

If you don't have any of this knowledge, you need to find a contractor who you trust and can walk you through this process.

It's very easy to get in over your head if you don't know what you're doing.

[MYKIDZM3]

So you want to get into a market that is still depreciating? Will you be using your own cash?

[Bents]

Best part is that it's a very sparsely populated industry...oh

[tenfifteen]

Originally Posted by DBS06MSBm3

Any help with be great appreciate it!

And everything like such as?

[maditalian]

Originally Posted by DBS06MSBm3

I'm looking to get into real estate investing for long term fix 'n' flip.Basically just looking for advice on any area of the topic.How it works,the business perspective of things,what to look for and things to stay away from.I'm also looking to network with some people if it's possible and learn more about investing in real estate.Any help with be great appreciate it!

too long to explain on a forum, to many different aspects and variants. I could write a whole page and 1/2 just on the "house scout" part. and thats like 15% of the project.

but let me just ask; do u (or your partner) have any experience in realty management, acquiring, whole-selling, redeveloping or maintenance or anything in the business of Contracting? Are u licensed in anything related to this trade? if not, u should seriously reconsider your intention.
your contractor and realtor will make more money than you.

Originally Posted by Dan I Am

Fix n' Flip is tough right now. Properties that make good candidates are hard to find becasue there are so many people out there looking.

Do you have any history with costing construction projects or remodelling? If you don't, I would recommend working with some contractors first so that you know what you are getting yourself in to.

in this trade, u dont hire contractors. U either are partners with a licensed contractor or u own your own crew. It doesnt work any other way (or, if it works, u are leaving lots of $ on the table and really axing your ROI's)

Originally Posted by DBS06MSBm3

Thanks for the advice please elaborate more on construction project and remodeling like how does that work? and how can i get into it? Benefits,cost,etc..

again, too generic. Cant really give u a straight/quick answer.

Originally Posted by MYKIDZM3

So you want to get into a market that is still depreciating? Will you be using your own cash?

doesnt matter that much, unless its plummeting, u can still make money. The number one word in this trade is COMPS. its all about them and your buy-in. A rising market sure helps, but money can still be made out there despite of it being there or not.

Originally Posted by BentleyJava

Best part is that it's a very sparsely populated industry...oh

lots of Johnny Showlates, and ppl trying to do this without 100% cash, using financing and crap. lots of investors too. Few people are in this trade for the long run. I have only met one (yes, u heard me right, 1) person running a successful home redevelopment business for 33 yrs straight.
So, no i wouldn't say that its way overpopulated. Its not like other fields are that much better anyway.

[Ginsu Tim]

I am collecting rentals ... slowly but surely.

Plan is to have 10 rentals (or some rentals + apt building +/- ?) by the time I'm 50.

fuk the fix & flip ... seems like a nightmare to me.

[eas]

Originally Posted by TaDoW

I am collecting rentals ... slowly but surely.

Plan is to have 10 rentals (or some rentals + apt building +/- ?) by the time I'm 50.

fuk the fix & flip ... seems like a nightmare to me.

Rentals can be quite a headache also when you deal with unreasonable tenants.