All Forum Posts by: Brock Dowis

Most hard money lenders will ask if they are funding the rehab or if you are. They will want to see a very detailed scope of work filled out (usually on their form, and yes the form changes with every lender. not convenient!) The loan terms will vary depending on who funds the rehab, but not by much. Proof of funds is the biggest difference. If the lender funds the rehab, you will need to pay for the initial work to be completed. Then start a draw process. When you initiate a draw, the lender will typically send out a photographer to confirm the work you claimed is complete is actually completed. The draw amount will need to match up to the cost listed on the scope of work.

So you do junk hauling and lvp flooring. You pay the 10k upfront to get that work completed. floors must be installed, cannot just have materials purchased, then when work is verified you will receive a wire reimbursement for $10k. The trick is the draws cost money as well. So, the fewer the better.

Hope it helps. Good luck!

Anytime we can refurbish existing cabinets that saves us on a few different levels. Time and Money! New hardware and fresh paint can really bring them back to life for limited cost. Done it on 2 projects and have loved the result. We typically go for a bolder color and hardware combination to take away from the original design. Forrest green and gold hardware, and then deep blue with brushed copper hardware. The painters who painted the interior of the home had a price for cabinets both times. $1k for paint vs $8-10k for cabinets.

 Hope to see you there!

Hey everyone! 3/18 at 11am The Temecula BP meetup is back. At Rosati’s Pizza in Temecula. The meetup is open the investors of all stages. Good food, and good people. An encouraging environment for everyone looking to be involved in Real Estate. Looking forward to seeing you there!

Hey everyone! 3/18 at 11am The Temecula Investor meetup is back. At Rosati’s Pizza in Temecula. The meetup is open the investors of all stages. Good food, and good people. An encouraging environment for everyone looking to be involved in Real Estate. Looking forward to seeing you there!

I would do both if at all possible. More than likely you will not make a ton starting out as a realtor. The automotive job can be a good source of income while you learn your craft. W2 is very lender friendly as well. Keep it until you buy that first house hack!

Try Facebook and Craigslist. Believe it or not there are a lot of wholesalers on there. Fairtrade and new western are large wholesale operations. Smaller margins, but tons of deals. 

I have a recommendation. I’ll DM. 

Is hard money an option? You would still have capital committed, but not all of it. 

Me and my team almost exclusively jv with investors. We operate in Southern California. Not the best landlord state, so we focus mostly on flipping homes.