Updated almost 7 years ago on . Most recent reply
My First Diamond in the ruff Property Flip
Investment Info:
Single-family residence fix & flip investment.
Here is my first diamond in the ruff. Everything is coming together so far ^_^
What made you interested in investing in this type of deal?
The Hidden Potential
How did you find this deal and how did you negotiate it?
Wholesaler ^_^
How did you finance this deal?
Hard Money
How did you add value to the deal?
Converting it from a small duplex into a 3 Bed 2 Bath
What was the outcome?
Still working the rehab
Lessons learned? Challenges?
I Learn a pretty hard lesson yesterday and it took me a day to understand it so I would like to share for future adventures with Private or Hard Money Lenders ^_^
Lesson: Make sure we understand everything about the financing and Draw schedules to the detail of what does the lender consider 3rd or 4ths on the Task of the Projects. Before releasing the first Draw.
