Has anyone had experience with Justin Williams mentorship program? If so, I would appreciate any positive or negative feedback! Thanks in Advance!
-how are some folks doing 6 or more rehab flips in a months period?
-how are newbies going from 1 rehab-flip to doing more than 10 rehab flips in one year's period? who is lending to them when they have no equity lines built up or cash for skin?
I have rehabbed and flipped over 30 homes. I guess I can say the old fashion way; i.e. getting my fixers funded by local hard money who is very conservative in his review of my numbers, lends me 75% of purchase price (not future value but purchase price), I either put up 25% in cash of my own cash or collateral one of my properties with plenty of equity, 3 months later I have it under contract to sell. California adopted this new 6-month seasoning rule that restricts investors selling a home under six months from purchase. Stinks. Now we have to go around that.
What I have encountered in borrowing money from many hard money lenders is that they require "skin" in the game (cash or equity of at least 25% or more. Those that lend on future value tend to be squeamish and fall through right before closing).