Analyzing The Deal Part 1: Fix & Flip
With Alan Murray & Stu Pollock
Tuesday, May 19th from 7 pm – 9 pm
During this month's meeting, you'll learn how to avoid the biggest problems most new rehabbers face including:
- Paying too much for a property
- Underestimating the cost of the repairs
- Overestimating the resale price
- Not having money to do a project
Let’s face it... The numbers don’t lie. If you’re going to work in this business and be successful, you absolutely need to know your numbers. And if you're you're considering getting into rehabbing, you need to attend this very important meeting.
Alan and Stu will teach you the formulas they use to fix and flip properties, in order to avoid many, if not all of the above problems. This is especially important if you are planning on using hard money for your deals.
- Formula for flipping
- How to calculate ARV
- Learning how to analyze and calculate the rehab of a property
- Quicklook Rehab
- Detailed Rehab
- Things to look out for when borrowing money
About Your Speakers
Alan Murray came to Virginia with the U.S. Navy. After leaving, he worked in a corporate job for over 20 years and that’s when he learned how he meant to Corporate America. His funding was cut a few months before retirement, which left him out of a job.
It was then, in 2010, that Alan entered into the wonderful world of rehabbing. He has been ‘flipping’ properties since, which has enabled Alan to use his profits to build residual long-term wealth for his family. Alan is now, what his wife Heather likes to say, unemployable. He will never work for anyone else again. It’s a great place to be and he wishes the same for all of you.
Stu Pollock moved to Virginia in 1972. After completing high school and college locally he entered the military. However, not before being bit by the building bug watching friends and family in the industry. While in the military he took a continuing credit course on contractor licensing in NC but was moved out of state before he could get his license. Later and closer to retirement, he took a course on Home Inspecting thinking he would start that business after the military, again the military had different ideas. Five years later he retired and was able to put the knowledge to the test as he gained the skills to Rehab Properties. He bought his first house in 1989 and still owns it. His goal is to purchase more buy and hold properties and Flips houses on a regular basis to finance buying more rentals and investments. He too is likely unemployable, but that’s ok, the Real Estate investing world has given him the freedom to focus time and energy on aging parents, new grandkids, and generally doing something new on a regular basis.
Event Location:
This month, we will be meeting via Zoom. Please check our Facebook Page & Member group for the link to join. While everyone who wants to attend can do so, if you'd like to ask questions and participate in the chat - please arrive early, because chat participation is limited to 100 attendees.
As always, the meeting will begin promptly at 7:00 pm.
Please RSVP on Facebook: https://www.facebook.com/events/666452084194793/