All Forum Posts by: Tony S.

Thanks all!  I contacted all of them.

Curt,

We all have extensive construction backgrounds and will contribute to the remodel to the extent we can with our sweat equity. Accordingly, we're all splitting the profit equally.

We have cushion in the deal to front a hard money loan, but I have no experience obtaining one and wouldn't know where to start looking.  The one hard money lender I looked into seems like a scam with heavy upfront fees and no guarantees of funding (I.e., "Dohardmoney.com").  Do you have any references you can point me to for a hard money loan?  Thanks,
Anatoly

Hi All, 

I have two properties under contract and am wondering if anyone can provide some ideas on how to fund the acquisition of these properties?  Below are the numbers for the two properties combined:

Purchase Price: 50K

Estimated Repairs: 60K

Contingency Reserve: 20K

Conservative ARV: 180K

I'm partnered up with a realtor and a contractor.  I can fund the repairs with various lines of credit, so right now I'm just looking for ways to acquire the properties.  So far I'm thinking of borrowing 13k against my 401(k) and try to obtain a personal loan from the bank.  But it's still not enough.  Any advice would be appreciated!

Awesome.  I will plan on attending.  Thanks!

I will be there, thanks for the reminder!

Hi @Abraham Steele-Jones 

Welcome to the site.  I'm also in Charlotte. 

Anatoly

#AskBP

What is the minimum equity spread you will buy a property at?

Welcome to BP! 

Here's a link to some good discussions on the door-knocking technique: 

http://www.biggerpockets.com/forums/21/topics/153747-door-knocking

Any updates on how your budget and marketing plan worked out so far?