When:
November 7, 2017 @ 6:00 pm – 9:00 pm America/New York Timezone
2017-11-07T18:00:00-05:00
2017-11-07T21:00:00-05:00
Where:
Sheraton Wilmington South
365 Airport Rd
New Castle, DE 19720
USA
Cost:
$15.00 | FREE for DelREIA Members
Contact:

Topic: How to Evaluate a Flip Deal, (and Get It Right).

Sometimes a deal isn’t as good as we initially think it is. Rough figures, formulas, and doing the math in our head, all can be a big mistake. You may be wondering if people actually get into a deal without understanding all of the known and potential costs. That’s an easy one to answer; yes, they do! And most of the time they are surprised when they see where they went wrong. “You don’t know what you don’t know”.

Almost every day I am asked “Hey Mike, are you interested in this deal”? Or, “can you lend on this deal”? Or, “will you look over this deal”? I love what I do, so this is good stuff for me. I see plenty of good to great deals, and many that would lose, or make very little, money.

What do you need to know to make sure your deal is a winner?

  • Reasonable expectations for the renovation.
  • Accurate estimation of the resale value.
  • Due diligence costs.
  • Attorney fees and settlement costs.
  • Taxes and insurances.
  • Carrying costs.
  • Resale costs.
  • Loan costs.

Join us for a valuable discussion on all related costs, so you will understand how to make sure your deal is a winner. Aside from learning how to properly calculate a deal, you get to hear from local investors with tips and ideas on how they approach each cost or calculation.

PLUS: If you are borrowing money to purchase and renovate, this meeting will give you the information you’ll need to get your deals funded.

This meeting is a big deal. Don’t miss it!

-Mike

Meeting Itinerary

6:00 pm – 9:00 pm 

  • 6:00-6:45 – Sign-In | Sign-in at the welcome table located in the reception areas in front of the ballroom where our meeting is held. You may also purchase your membership at the welcome table.
  • 6:00-6:45 – Networking & Food | Start networking by joining DelREIA’s coaches from 6:00-6:45.  This time is perfect for anyone who has questions for a coach, wants to learn more about real estate investing or DelREIA.
  • 6:45-8:30 – Meeting | Please help us start on time by being seated at 6:45.
  • 8:30-9:00 – Networking | Network until 9:00 pm or later if you choose!

About Mike

Originally from New Jersey, Mike has been in Delaware since 1986 when he was stationed in Dover with the Air Force. After ten years of active duty, the next six years he performed in sales and relationship management for a corporate bank.  Mike’s entrepreneurial spirit has been growing since grade school when he started making money from door-to-door sales and a newspaper route. Since starting his real estate investing business in 1999, (full time 2003), he has completed hundreds of deals including buy and hold, lease purchase, flip, wholesale, options, creating notes, new construction, and apartment to condo conversion. Mike enjoys teaching real estate investing at Del Tech and speaking for other groups and organizations.  He is fulfilling one of his biggest passions by providing an environment where real estate investors can learn, grow, and network.


 

Monthly Mtg: New Castle County Meeting RSVP