9/12/19 Sorry, it has been a while. We have been busy! Let's see...the cabinet company sent over the wrong cabinets and happily exchanged them. When the deliver person put the "wrong" cabinets back
Journey of Our First Out-of-State Flip Part 1
May 15, 2019 - Today we secured a duplex in the Grand Rapids area to flip. I do not live in Grand Rapids, but the market there is amazing for investors. My husband and I have flipped two properties in Illinois, but at this time we wanted to venture out into a different market. I want to document this process.
My thoughts: We are learning to work with two other investors as we have partnered with them as we felt more comfortable with "boots on the ground". Our one partner, is very knoweledgeable in property management and has tons of contractor contacts. The other partner is a Realtor who has a great eye for investment properties and is outstanding with numbers. So today, we celebrate getting the property under contract and now the busyiness begins. EM has been sent in, inspections have been scheduled (yes as a flipper we always get home inspections). We will continue to re-evaluate our numbers as we go along. The plan is to get the inspection done and then all meet at the property to define the scope of work and create the final rehab budget.
I will keep you posted!
Patrice Boenzi is an experienced investor and landlord. Her extraordinary success in flipping homes benefits her clients through innate understanding of budget, cash flow and retained equity. Patrice ....