My hole plan seems simple enough. I want to buy houses cheap, fix them up, and sell them for top value. One house every 3 months or so until I can get it going on to doing many projects at once!
The time frame for holding a house would be around 2-6 months! I have a stong grasp on the market here apprecation is fast right now as a bonus. But I think I could even make a profit in a slow market. One of the coolest things is my bro runs a construction crew that rehabs homes for a invester already. He will be involved in the rehabs I will do all the aquisition and sales. I am young and eager but I am cash short. What I want to do is look for delapitated homes in neiborhoods that have been experancing strong growth and offer the owners a quick close for cash with an apprasal and inspections of course. Then spend as little as possible tring to make the house marketable (carpets, landscaping, paint, roof, and what ever else. Then We will put the home on the market for market value in a few months hopefuly making 20k+ worst case. I know about taxes so we will try to roll profits into upcoming projects with a 1031 and pay ourselfs as contracters I guess. After that I propose to roll the money into the next project making a snowball effect. My hole goal now is to fix up my credit and also to find investors. I feel I have a good chance at making this work. I plan on finding homes and buying them at under market value then spruce them up for potential buyers and sell for a profit.
So as soon as my credit is clean I am ready to rock and roll. I just hope I dont miss out.
Has anyone used hard money loans to buy investments to flip?
Has anyone been in the rehab bussiness here?
Anyone want to be a silent partner?
