All Forum Posts by: Brandon Cooper

@Jon S. They will flood ur phone with calls. Are they legit? I dont know. The one and only person i talked to tried to get me on a business credit card. I did my research and apparently thats all this one particular company does, they apply u for CCs and call it lending. As always, vet everyone

@Terrelle Allen they do a short term loan at higher intrest. You will still need a down payment and you will need an exit strategy to be able to pay back the loan. Intrest rates arr generally between 9-18% depending on your experience and may have points up front. Theres a lot of variables depending on the lender

@Steven N. Depends on your market and what inventory looks like. Whats selling and whats sitting. If you wholesale it, thats an instant 21k. If you close and relist, you will have 2 sets of closing cost. You have to run numbers. Since you cany accurately run numbers on rehab and what it should sell for, id skip all of the above and just wholesale it. If your market really shows that itll sell for 220 without being completely reno'd, a light rehab might not be a bad project with decent returns. You have to be able to run numbers though

@Hyacinthe Canton give him a call then. You wont be disappointed with the quality of his work

@Hyacinthe Canton possibly, i dont think he will even look at it if its not at least 50k in work but his work is amazing. Hes the only GC i know that may even go out that far as im in the Winston salem, greensboro area. His name is Nik Wilson with Wilson Homes

@Hyacinthe Canton your bank should offer you some GCs. Any licensed GC can do 203k work though in the state of NC. Im a subcontractor and know quiet a few GCs. Do be sure to vet your GC, a friend of mine just purchased a house using 203k and used the bank recommended GC, he did shotty work, only completed about 20% of the job and quit. After receiving almost 50% draw. So thats something they have to fight now. Be sure to check lots of referrals and quality of work

@Andrew Fava it really comes down to what youre comfortable doing. I recommend gathering assets while you can, if you can

@Andrew Fava if i could be single with no kids again and know what i know now, id buy a multi family property and live free, live there until i could buy another and so on. Youve got the time to do it, just do it right and you'll thank yourself later.

@Richard Audet call them first

@Roberto Lopez 500 for expenses seems high also