Posted by Michael Earp on October 22, 2007 at 19:18:47:
Thank you for the response! I do have project management experience in the IT industry with such notables as Microsoft, Google, VA Dept, and so on… I have a very extensive back round with construction companies in building, repairing and customizing data centers with references. I understand it is not the real estate industry but project management is project management. Most investors know what they want to do with properties before they buy them or else what’s the point in buying? My job would be strictly finding these properties and finding contractors within our proposed budget and making sure things go according to plan. I’m looking for an investor who would be willing to let me display my knowledge. Thanks again for the advice.
Posted by Michael Earp on October 22, 2007 at 14:34:19:
Hi,
I’m trying to get involved in Real Estate flipping but I don’t have the money to be an investor. I am looking to find real estate properties for a minimal fee off the buying price before repairs and then manage the property repair process until completion for investors. In a sense, be the " eyes and ears " along with being the project manager. Any suggestions on how to get started? It’s a lot harder than I thought!
Posted by Rich-CA on October 22, 2007 at 18:16:51:
If you are planning on being “Project Manager”, then you should start by developing a “Project Plan” on how you will put this business together. Being a Project Manager is a skill in itself (I have 20 years in that profession for software development - which is a lot harder than flipping/building houses).
Your big challenge will be convincing a money partner that you can manage the project and won’t bring them a Property Ladder type failure or near failure. As a former hiring manager I interview anyone working on projects for me like it was a job interview. I would want to see references, projects that were completed, project files, punch lists, budgets, interview questions, insurance, and so on to prove that the person I was entrusting my money to would likely be able to live up to that trust.
You may want to apprentice with a company or small business that does rehabs to establish a track record (and a reference). It may not pay much and may be demanding, but those are the dues all of us pay when starting out. Its also how you learn what needs to be done and how.