All Forum Posts by: Allan Tamez

@Mike D'Arrigo Hey Mike! I realize FHA would be to complicated to even consider for a flip. I'm going with Aaron's advise and try to build relationships with local banks. I have the funds to rehab the property (20 - 45k), I just need the funds to buy the property when the opportunity presents itself.

@Aaron Montague Thanks for the advise on lawyer and accountant. The search is on...

@Aaron Montague Thanks for the info. I'll schedule a few meetings with several local banks. Would you recommend I find a property first or pre-game it, let the banker's know my plans and then search for the property?

Do you have any recommendation on a book or website with a good business model for this type of business? Not so much the flipping part but the organizational aspect of the LLC.

@John Marshall Good point. I just mentioned it to a few co-workers and they were anxious to invest. I think building a relationship with a bank would benefit the most thinking with the end in mind. I'd like to pursue higher price point homes and larger margins.

I'm doing research on flipping a property. I have the lines of credit to pay for the GC and supplies. My partner and I will probably need to get a loan for about 60 - 70k to buy the home. My question is, what type of loan and from what type of lenders should we look for?

I understand that FHA is out of the question because of their flipping guidelines. From what I've heard conventional would be a good option but we'd like to avoid putting 20% unless necessary.

I was thinking of bringing in a partner that has a paid off home - in order for them to acquire a home equity line of credit.

Your wisdom and advise is greatly appreciated.

-Cheers

@Curt Smith -

Hey Curt, how exactly did you go about sending the direct mailer? What was the method to your success if you don't mind me asking...

Thanks,

-Allan