Money from three flip - Posted by inger

Real Estate Investing Real Estate Financing
#1

Posted by StevenS(CPA) on August 01, 2007 at 08:51:12:

There are many schools of thought about hiring assistants and RE investing in general. If I were you I would sit down and write out what you want and where you want to be in five years, four years, three years, two years, and next year.

Then I would develop a plan that follows that time line with your current investment amount. Hire an assistant or do not hire one, either way do what makes you feel comfortable and follows your goals.

I hope this helps
good luck

#2

Money from three flip - Posted by inger

Posted by inger on July 31, 2007 at 14:51:01:

I am about to close on another property.Most of my money goes to paying off debt from a previous relationship. I have about $8-9,000 that I will have left over. My money isn’t taking me far sitting in the bank. Can anyone give me some ideas about what to do to help my money grow?

#3

Re: Money from three flip - Posted by IB (NJ)

Posted by IB (NJ) on July 31, 2007 at 21:04:44:

Invest in your business. Hire an assistant to do the paperwork so you can do more deals. Increase your marketing. Expand into other markets.

Ib

#4

Re: Money from three flip - Posted by Brian_wa

Posted by Brian_wa on July 31, 2007 at 21:11:37:

If you first start out, I think it’s better to do everything yourself instead of hiring an assistant. It helps build character I believe. More money should be concentrated on the marketing. I’m not too sure about expanding to other markets because you’d have to spend more time learning those markets. There should be enough deals in your immediate area unless it is a very very small town.

Brian

#5

Re: Money from three flip - Posted by IB (NJ)

Posted by IB (NJ) on August 01, 2007 at 07:22:11:

Good point. But I really meant for my suggestions to be implemented on a step-by-step basis. After he invests in his marketing and hire and assistant, eventually he’l want to grow and expand into other markets. Even if that means the town next door or multi families as opposed to sfh.

Ib