All Forum Posts by: Barbara Lynn

He offered to teach me the stock market, but I wasn’t really interested.

He’d only need to put down less than $20k with reserves. Maybe he could do the hard money loan and make even more money

I have a $50k HELOC taken out on my house. I don't want to put $35k down on a hard money loan and risk my house if I'm not able to make the payments (especially if I blow out my reserves and have to pay $350/month in HELOC payments). I have $17k that I could turn into a SDIRA, but I've heard this is difficult to use. Less than $20k down is more reasonable. For this, I need a partner.

My girlfriend (who owns $50k in stocks and whose mother invests in real estate) backed out. My mother who has $150k equity in her fixed up house backed out.

The only person left that I could at least semi trust is my incredibly wealthy uncle. I plan to ask him on Good Friday if he wants to make some money.

This would be for a BRRRR so it's less risky but more difficult to get out of, but yet with excellent earning potential (especially if he provides the hard money loan).

He doesn’t do much. He retired a while ago, but still invests in stocks as a part time job. He seems to want to help at least with advice on being successful especially when he sees people struggle. He plans to leave all of his worth (which also includes a 3/4 million dollar house/land) to the church when he passes away.

Please help

This statement is very interesting of why you would semi-trust. I agree with one of the other posts about having a relationship with your uncle that is substantial.

"The only person left that I could at least semi trust is my incredibly wealthy uncle."

I don't have any of what you have ie savings or an uncle but still jump in and do it.

Why don't you find a great deal of a fixer house first and then go to your uncle with numbers and exit strategy? Why 20K?

Also how is your credit? You have liquidity but you do not want to risk your money but want someone else to take the risk. Unless I am misunderstanding.

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It is a darn shame this does happen.

For me as a seller, I will work with the buyer who can close fast with cash. Is that too simplistic? I want the buyer who can "belly up to the bar" and put their money where their mouth is and close ASAP.

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Great question! Nothing standing in my way and holding back. I am starting wholesaling again recently in a new STATE (and town) and learning the area. However this time I am smarter and technology is greater.

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@Mihal Coyle let's connect! Where are you???

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Hello everyone! I have been busy in the past with BPers and had a closing with one from this site way back and took a break and now ramped up for a new place!

1. 🌎 Where you’re based + where you (hope to) invest

I am in Burlington NC. I will work with sellers in my backyard.

My goal is to talk to sellers here in NC and I obtain the contract and assign to buyer. I have done this in GA and excited to do again.

2. 💫 What your goals are with joining BiggerPockets (e.g. buy my first house hack)

I have closed a deal with a buyer in GA in the past and met amazing people on BP. I hope to add value. I hope to connect with buyers and provide great deals.

3. 🤪 A fun fact about yourself

I love to cook!

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@Raj Kandragula I sent you a request. Let's talk!

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Greensboro, North Carolina

All Forum Posts by: Barbara Lynn

Barbara Lynn has started 3 posts and replied 16 times.

Post: How can I convince my uncle to be my partner?

Post: How can contracts be anonymous?

Post: QOTW: What holds you back as a female investor?

Post: Durham or Burlington or FV or HS?

Post: Hello and welcome to BiggerPockets!

Post: Looking to buy a rental in Greensboro, NC