All Forum Posts by: Alexander Popusoi

Hi Alex: Because each investment property stands on its own merits from a Hard Money Lenders perspective you will need to get a pre qual. in order to look at many investor properties. To obtain a pre-qual you will need to provide to a broker or lender your credit score and, proof that you have funds sufficient for a down payment(Bank Statement or other statement). You will also need to know the purchase price and whether the current fair rental value if unoccupied, or the current rent. This will permit your finance guy to do a deal analysis and determine if the property qualifies. In addition if it is a fix and flip you will need an approximate scope of work and rehab. cost. Most HML lenders will provide you with a deal analysis once you have a target property. Good luck.

I've seen a few replies telling me that wholesaling is impossible without real estate experience or sufficient funds. Is this truly the case? I'm a college student in Arizona and I'm hoping to get into real estate through wholesaling since from what I've read/saw online, it doesn't require a lot of money, though I know it requires some expertise that I'm willing to learn if possible. If you all strongly oppose this, I'd appreciate any recommendations on how I can still get into real estate without a large amount of money going in. Please let me know and thank you again!

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I'm only starting my education in wholesaling, and I've learned about the common problem of missing POF that wholesalers encounter before closing a deal. When I make my first deal, I want to be as prepared and honest as possible, so having a POF is essential; however, looking at different sources, it seems that purchasing a POF from hard money lenders requires you to have a business (I do not.) Will I have to create one before I make my first deal to be fully prepared? I'd appreciate any thoughts on this and thank you so much!

2 Votes

All Forum Posts by: Alexander Popusoi

Alexander Popusoi has started 1 posts and replied 2 times.

Post: Do I need to create a business to get POF from hard money lender?

Post: Do I need to create a business to get POF from hard money lender?