All Forum Posts by: Brittany Minger

We recently purchased a single-family home along a river. Property will be used for short term/vacation rentals. No internet service providers available due to remote location. 

Similar to a hotel throttling internet usage, does anyone know a device or data carrier that offers a mifi/hotspot with the ability to throttle data by the day? It’s important to note: we don’t want to throttle data by device—as renters are always changing and so will their devices.

Hi Daniel, very helpful—thank you for the quick turnaround time! 

Being that it's an online auction, the "fine print" states 10% down is needed with winning bid. You mentioned foregoing an appraisal. If I do need HML to get involved, how will my above "process" look different? Most I spoke with require LLC and need an appraisal done. I guess this is why I'm most apprehensive... I don't know what's possible in a 2.5 week timeframe. Also, I'm under the impression Hard money is used for rehabbing a property. I've been advised against this approach for my first property, and was recommended to work with a wholesale deal instead. Have you (or anyone here) had experience using Hard Money with a wholesale?

Once again, I appreciate the insight. These questions have been on my mind the past month.  

Brittany 

Hey folks, I'm eager to learn from everyone! Here's the scenario... I'm looking at a property at an online auction. The county clerk mentioned I could schedule a time to look at it to do an appraisal. At this point I've been in learning mode, and this will be my first property (I'd like to wholesale it). A couple specs: property is currently unoccupied. Depending on how much the property goes for, I may not need to rely on hard money lenders, as I have a partner also investing. Time between 10% down and final balance owed is 2.5 weeks.

I'm trying to wrap my mind around all the moving parts, and want to avoid using HML if possible. Here's my thoughts on next steps... Schedule a time to view the property for inspection and pay to have an appraisal done. Also walk through the property with a contractor to get a quote on repair costs. Identify ARV with some comparable properties. Calculate what the max bid is going to be... and bid with the best of them! IF winning bid, work with both title company and attorney to get the property under contract. Work off of buyer's list to move property before the final balance is owed... title company and attorney get involved once again.

Can someone shoot me straight? Or let me know if I've overlooked anything? I already know I'm overthinking this, so no need to point that out. :P

Thanks a million BP friends,
Brittany