All Forum Posts by: Account Closed

@Caleb Heimsoth, I see. Yes, like I said, I fully expect to give up a large percentage of profit in the beginning. But for a hold property, is that what the terms are usually, 5 year interest only and a balloon payment? You would get the same percentage of equity after I refinanced or paid the balloon? Am I understanding that correctly?

@Matt Berklacy, that is a good idea as well. I have been to a couple of REI meetings in NOVA (Capital City REIA) is one. Met a couple of folks but most seem to concentrate in Baltimore (even though it's a NOVA REIA). Go figure. Looking into some others I can attend for other REIA's.

@Sam Shueh, please expound on Notes. I have been doing a little research in this regard as well, but not from a company. I have great personal credit, that is not an issue (all scores 800 or close to it). I have some funds, just not 20% or 30%, then I still would need capital for the repairs, etc.

@Joel Owens, yes, I completely expect to give over a large percentage of profit on my first deals. I'm good with that too. Even looking at HML, the rates are higher because I'm new, again, I'm okay with that. Gotta start somewhere. I know it will get better as I gain more experience.

@Nathan Gesner, thank you, always helpful in your advice!

@Joel Owens, yes, I guess I did things backwards in that regard. I don't have anything yet to show investors, I'm new to this but hoping to develop my site more with those deals that I can show potential investors in the future. 

I get it, I'm new and a huge risk...however, there has to be something I can say when I meet potential investors to get them interested in what I am doing. I will take a look at J Scott's 123flip.com as you suggest. Thank you for the input! :)

So people always say go to REI meetings, meet people and talk to them. I am doing that, however how do you approach a private investor? What do you say? Hey I'm a newbie can you fund my project (when I get one)?

Being funny, but I am not shy but I'm also not so aggressive either. When you do network with people how is the conversation going down? 

What are some approaches I could use to get a private investor on board with me, what do I say? Thanks in advance for any ideas...

@Mike Reynolds, thank you for that input as well!

@Donte Brandon, SEO = Search Engine Optimization. Things like when a person searches for real estate, etc., on Google, your company/name will come up in searches first. Marketing essentially.

@Jerome Lewis Jr, do you know if they lend in Virginia?