All Forum Posts by: Jonathan Alindayu

Welcome to BP Eric! Glad to know that you're arround South. I am not that far away from you, Kent.

Hey No Jo - i too looked around Seattle and it is impossible to find a property that can generate @ 2% rule unless you get a really super cheap deal in Seattle. I am actively looking outside Seattle, in my case, South of Seattle and just found a couple properties in Federal Way and Kent. You may be able to find a properties around Everett or Lynnwood. 2% in Seattle is pretty slim chance.

Have a happy Holidays - GO HAWKS!!!!

Jonathan

Thanks David. Looking into it now.

Anyone has used Conventional loans for their Flip?

Hi Dawn - i am familiar with 1-4 and will considered these in my future rehabbing. Can you tell me more about peer to peer lending? I have not heard of this type on loan. I guess i can look it up, but may as well asked =).

Thanks for the advice on putting extra of rehab cost. I think that's a very good idea in case of unforeseen cost.

jonathan

Hello all - i am a "Newbie" to real estate investing and have a couple question about Conventional Loan vs Hard Money Lender. Also, what are the pros & cons between the two. Originally, I was planning on Buy & Hold. But I am now leaning toward rehabbing/flipping property in my area in the near future and wanted to know if someone can share some knowledge in regards to funding my future project.

First, I do have a pretty good credit and can put down 20% down payment for a Conventional Loan? is it possible to use this type of loan for Rehabbing/Flipping. Will the Bank also loan funds for the rehab cost?

Secondly, looking into Hard Money lender seems to be the theme/used by others investors here. But it is costly, as far as rate goes. I assuming this is the way to go?

Thanks in advance,

Jonathan

Welcome to BP Lulu. I am sure someone here in BP will chime in in regards to your question(s). Best of luck to you...

jonathan

Hey Dalton - I too, a newbie from King County (Kent). Lot of folks here from WA state. BP is Awesome site (borrowed from Brandon..lol). Hope you'll find it useful like i do. Oh yeah....GO HAWKS!!!!!

@KimoBaenen

You are probably right about our commute distance. Good to know that you are already vested with your current home. I too own my home here in Kent. So yeah, we are kinda in the same boat as far as educating ourselves about Real Estate investing. My wife and I leaning to Buy & Hold but after reading up in BP it's tempting to learn about Rehabbing/Flipping as well. So anyways, lots to learn. Good luck as well.

Jonathan

@PaulTimmins

Thanks for sharing Paul. I will definitely look into it. There's so much info in here that i really not sure where to start =). Thanks again!

Hey Brandon! I will definitely look forward for the upcoming podcasts. I can't believe how much information you guys share with the other investors here at BP. Also, you mention on one of your podcasts that you are thinking about investing in Tacoma. Do you think Tacoma would be a great place to start investing?