The Fulton School
The first day we toured a house with Lori (the owner and lead realtor) for a possible flip in the morning. When we got back to the office she showed me how they compare it to similar houses in the area and decide if its a good fit for a flip. For example after you buy it and renovate it can you still make a profit. In the afternoon she gave me a first time home buyers guide to read along with looking through biggerpockets.com while she worked on contracts.
Day 2 started out with a meeting with the owner of ARS Construction. We then went back to the office and had a zoom meeting with a local solar panel company.
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Do you and Lori look at the land too? For example if the property is in a multi family zone, would you and her look into seeing what type of building best fits the property? Or do you only assess the house or at least focus more assessing on the house?
right now we are only looking at houses. Going forward with their business plan they want to get into nontraditional housing options like tiny houses and container homes. These are instances where they would look for land and build on it.
What is a flip? It sounds like you’re remodeling a house but I’m not sure. Sounds like an interesting day!
yeah, a flip is when you buy an old or junked house. You can then remodel it and sell it for a profit.