Been such a busy week forgot to share our WIN! My sister and I closed escrow last Thursday on this sweet flip in San Diego, CA! Plan is to do 60 day rehab and resell. For anyone who says you can't do it in expensive markets, not true, just gotta be patient and know your numbers! Took a while to get here and looked at plenty of shitty deals but we have a great GC and team in San Diego so I know it'll be a success! We leveraged HML and PML to get this closed, escrow was only 5 business days, found it by a wholesaler in a FB group who we made friends with. HML was Merchants Bank and got them to do 100% rehab, 85% purchase price, 1.5 pt, 10.5% rate for our first flip! Few things we've learned that I think is important to share for others starting out: Vet out your wholesalers (so much daisy chaining, sketchy properties or shady stuff). Ask lenders/ escrow agents for which wholesalers are legit and what ones to stay away from. Reputation matters. If something feels off, it probably is. Trust your gut. Also when you get sent a deal from a wholesaler, Google the address (check for past crime articles or if it's listed on the MLS already). Figure out your competitive advantage, get on the phone with people to build relationships, and be memorable. If a lender helps get you a quote fast or works through the weekend send them a $15 thank
Transcript text
2:09 •0l FasterFreedom Community FasterFreedom Community ... Cassidy Quilling • Dec 7, 2023 • Li Been such a busy week forgot to share our WIN! My sister and I closed escrow last Thursday on this sweet flip in San Diego, CA! Plan is to do 60 day rehab and resell. For anyone who says you can't do it in expensive markets, not true, just gotta be patient and know your numbers! Took a while to get here and looked at plenty of shitty deals but we have a great GC and team in San Diego so I know it'll be a success! We leveraged HML and PML to get this closed, escrow was only 5 business days, found it by a wholesaler in a FB group who we made friends with. HML was Merchants Bank and got them to do 100% rehab, 85% purchase price, 1.5 pt, 10.5% rate for our first flip! Few things we've learned that I think is important to share for others starting out: -Vet out your wholesalers (so much daisy chaining, sketchy properties or shady stuff). Ask lenders/ escrow agents for which wholesalers are legit and what ones to stay away from. Reputation matters. If something feels off, it probably is. Trust your gut. Also when you get sent a deal from a wholesaler, Google the address (check for past crime articles or if it's listed on the MLS already). -Figure out your competitive advantage, get on the phone with people to build relationships, and be memorable. If a lender helps get you a quote fast or works through the weekend send them a $15 thank 9 + Home Friends Marketplace Groups Notifications Menu