All Forum Posts by: Billy Gullett

@Jacque Fairbourn do y'all (do hard money) offer better terms for ppl with good credit and money down?

Thanks for all the input guys. Guess I should have added in my original post that my plans are to do the "BRRR" plan that Brandon Turner talked about that's why I'm a little more focused on my refinance appraisal so I can refi then pull my rehab money back out of this project to put it into another one. That's why even tho I know tenants will mess some stuff up I'm trying to find a happy medium to make my plan work both ways.

 I'm about to start renovating my rental to get ready for appraisal and refinance. Trying to get top dollar appraisal. Should I go all out and make it like new again with high quality expensive material or should I go less expensive but still like new? Struggling with this issue help please!!!

Good point. Thanks @Jay Hinrichs

@Charlie Fitzgerald &@Jay Hinrichs

Same thing I said. Why would anybody be giving free money unless they hoped you kept it for over a year and they sky rocketed the interest rate to some outrageously high number. I figured as much thanks guys. What's yalls advice for getting funded by a hard money lender? And good refs? My credit score is 780 and I already have a heloc loan out for a flip I'm doing now so my moneys kind of tied up in this one but seeing a lot of good deals on the market right now I'd like to grab.

Has anybody used or heard about the company funding for flipping? I ran across one of their ads and it says interest free loans for flipping for up to 12 months. Any truth in this? Sounds too good to be true. Just trying to see if anyone's tried them before I give it a try. 

@Will Barnard we have a really good market here where I'm at. A lot of ppl moving here because the economy is good and work is everywhere. The house would easily sell for $200k. The neighborhood is pretty old and outdated but safe and close to wal-mart and other downtown. The average house around this area (new construction) sell for $130-$160 a sq foot. My home I live in appraised for $145 a sq foot. So even with a very low estimate I believe you could sell this house for $180-$200 k.

Thanks guys. I've decided to pass on this one until i get a little more experience. the final day of bidding is today and its at $35,000 now.

Thanks @Mindy Jensen