All Forum Posts by: Chris Bounds

What's the ARV on that house?

@Huy N. - great job!  Now you can enjoy the cashflow!

Welcome to BP!

I've used HM on several flips and buy & hold deals. You have got to have your plan in order and execute it well to justify the higher interest and points HM charges. They are a good financing tool, but they come with a cost.

Using HM for a buy & hold is using the BRRR strategy. Buy, rehab, rent, refinance. Actually, the day the rehab is complete I submit my refinance paperwork. Make sure you are pre-qualified in advance and both your HML and the refinance lender knows what you are doing. Your HML may even have a recommended refinance lender for this type of strategy.

Most banks I've spoken with do not like loans less than $75k.  Another issue you may have is seasoning.  They may want you to hold it for 6-12 months.  Check around with smaller local banks & credit unions.  

Welcome @Anthony Piazza!

0 down deals aren't impossible to find but they are few and far between in hot Texas markets. You need to do aggressive marketing to get those deals IMO. Partnering with other investors can help you save some cash on deals, but I wouldn't personally do that on s buy & hold SF home. 

I love the BP and #AskBP podcasts. I listen to Lifestyles and Buy Sell Fix Flip podcasts as well. Another one not mentioned above is Justin Williams House Flipping HQ. His advice on systems and business building is golden. 

@William Dampier - thanks, you're added.

@Dee Peterson and @Amber Koontz - Can you sign up for my buyers list on my website or send me your e-mail.

Hi Everyone,

I saw this post a month ago.  We're starting up a meetup June 2nd at 6:30pm at Rudy's located at the Hwy 59 / 99 interchange.  You can RSVP here, but be sure to view the meetup thread here and let other BPers know that you are coming.  It will be a great networking event.  Hopefully one of many more to come!