First Flip complete · Real Estate Learning Community

First Flip complete

Hey guys, I just wanted to share a quick story with you all. I have wanted to make my way into flipping houses for as long as I can remember but never really knew how. I decided early this year to go out and get my Agent license and begin helping others in their real estate adventures. My goal the whole time was to make extra money to put back and buy an investment property and to have the ability to represent myself in any real estate deal I may have in the future. Let me tell you, this whole process revolves around networking. Put yourself out there, meet as many likeminded individuals as you can. Find a way to add value to their projects. Stay in contact with the people you meet.

On to the story behind where I'm at. I have a couple of friends in the group that I contacted and told them what I was doing, why I was doing it and my current timeframe for getting there. The Gilstraps invited me to the community where I was able to start learning through others experiences and of course Myles puts out a ton of information and I recommend you take everything he's willing to give.

So meanwhile, as an agent I'm now with a brokerage and trying to go out and get clients. I was able to land a listing from a person I went to school with. I went looked at the house and knew immediately a traditional sale wouldn't work. Went ahead and explained and they knew that was going to be the case so thankfully they were level headed and signed the listing agreement and the rest is history. My first step again I called the Gilstraps and told them about the house and that I needed to get some Investors to come out and look at the house before I put it on MLS. Without hesitation, I had numbers for 3 local investors. I called all of them and lined up 3 showings back to back on that Saturday.

Just through talking and explaining my goals and thoughts about the house I instantly became friends with these guys. We got 3 cash offers and accepted one. about 1 month later, the same client called and asked if we could do the same thing on her mother's old house that her brother was staying in. I call up the Investor that purchased the first one and told him what I had and he came and looked at it and told me to get back with him on the price. Again my clients being levelheaded and knowing the situation they were in and the condition of the house knew the case and they asked me to get them $100k for the home. After letting the Investor know, and asking him to pay a little over what they were asking because I knew it was a good deal for him, he agreed and asked if I would like to partner on it. After bringing him multiple deals now he saw something in me and decided to mentor me in a way through my first flip.

He has showed me the ropes, taught me about private lending and how he does it. Introduced me to the software he uses to manage his jobs and just so much more. It has been a great experience and has worked so well at this point that we are already working on a 2nd house with him, but have purchased a 3rd and 4th house with him. I have networked and found a private lender that is funding some of our projects and continuing to find more connections to provide value. Lot of info in here but key points are network, go to the meetings, take what's out there for you, find out how you can add value to others and they will bring value to you as well. Follow my business page Remix Investments LLC, keep up with what I'm doing and feel free to reach out. I'd like to return the kindness that I have received and help anyone out that I can as well.

Numbers for this flip:

Purchase Price: $105k

Rehab $60k

Total $165k

List Price $248,900

Profit Split 50/50

Thanks for reading!

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