The past year and a half has been pretty busy — we sold our house in Atlanta, spent a few months traveling and visiting family around the country, found a house in the Baltimore/Washington, DC area, tore it down and rebuilt a new home for our family and are finally getting settled in our new house. While we blogged a good bit about the new build, I haven’t spent much time here on 123Flip.com. But, the goal was always to come back to this site and continue building content…
Now’s the time!
The first thing I’ve done is a little bit of site redesign, including freshening up the look and feel and simplifying the navigation:
- If you want access to all the details of our first 50 flips, I’ve created a single page that houses links to all the blog posts, pictures and final analysis data for each house
- If you want access to all the articles and eBooks I’ve written, I’ve updated my Education page that houses links to all that content
- If your curious about the sites and tools I use in my business, I’ve updated my Resources page with lots of helpful links
Also, with a new year comes some new challenges and goals — in addition to continuing our flipping business, we’ve decided to start building up a portfolio of buy-and-hold properties as well. While we’ve purchased a number of rentals in the past, we’ve always sold them off after a year or two; this time, we’re planning to hold long-term. We’re starting with single family homes, but are hoping to quickly expand to multi-family as well…and perhaps eventually move up to larger apartment buildings.
Tomorrow, I’ll be posting about the first rental property we’ve added to our long-term portfolio. And as you’ve come to expect from this site, I plan to go into gory detail and track the project long-term.
And, if you’re signed-up for our Newsletter, expect a freebie to be coming your way in the next day or two. If you’re not signed up, now’s the time…see our sign-up box to the right or at the bottom of the page.
Excited about the new content J.
I believe this is the single best personal blog on real estate on the internet!
Like the new look of the site and I’m excited to follow along on your buy-and-hold journey!
So happy this is back !
What advice would you have for someone who has an opportunity to become a PM? I have been managing people/budgets etc…for the last 20 years as a golf professional and believe there are many transferable responsibilities that will help in the transition. My employer is in the real estate business and has stated his trust in me as the main factor in this decision but I’m not exactly the best handyman out there. Do I have a chance to learn enough to get by and gain the respect of those I am managing? Thank you!
Hey Dave,
The big question is whether your employer is on board with you learning on-the-job. It will certainly take time to learn the construction side of the business, but the fact that you have management, budgeting and scheduling experience is a HUGE plus. Most people can learn the construction side of things (given enough time), but many people will never be good managers.
I would ensure that your boss is comfortable with the fact that you’ll be learning the tactical part of the job and it may take some time. As for the contractors, they may try to take advantage of you, but if you have some management experience, you should be able to mitigate them getting too much of a hand-up on you. Make sure they understand that future jobs for them rely on their ability to make your job easier. The smart contractors will go out of their way to help teach/train you, as they know you’ll return the favor with future loyalty.
Good luck! And check out this article:
http://www.123flip.com/education/6-rules-for-managing-your-contractors/
It’s good to hear that you’re now in the DC area as am I. I found this site from your posts on biggerpockets in 2012 regarding wholesale mentoring. Your site has a wealth of information but I see that it is mainly for rehabbers. Do you have information or help for wholesalers as well?
Welcome back!!