All Forum Posts by: Carla Marie

Hey @Bryan Henry. Welcome in, and congratulations on your first house hack! I'm also a newbie investor, focusing on the Gwinnett/Cobb areas. I second Bill Hampton's suggestion of joining a REIA - a great source for networking and learning. There are also some really great facebook groups with active members bouncing ideas off of each other. Would love to connect!

Hi @Tadela Tedemet - welcome in! I'm also new to investing and have actually been speaking with different hard money lenders over the past few days to fund a flip. I echo what everyone said above re: vetting the lenders through references, etc. Bigger Pockets has a search feature specifically for hard money lenders which I initially used as a starting point to build out a list. As I began to speak with other investors, I was able to get references from them, which has been very helpful! 

I will say though, given the current economic downturn and uncertainty, looks like the majority of lenders' numbers have gone up a lot in terms of interest rate and points, and their funding percentages have gone down. I've found it hard for the numbers to work unless it's an absolutely amazing deal, at least for flips. Just a little heads up! Definitely worth still looking into - things will hopefully be stabilizing fairly soon.

All best!

@Greg Dickerson Thanks so much, Greg! All very helpful.

@Andrea Weule didn't think about that...very helpful, thank you!

@J Scott Thank you! Will definitely check it out. Working my way through your book on flipping houses now!

I understand timing the market is nearly impossible - probably even more so now than ever given the market/economy uncertainty from the unprecedented nature of COVID19 - but what are the triggers to keep in mind as a signal that it's a good time to resume acquiring flips? 

Looks like a lot (though obviously not all) of seasoned flippers are putting a pause on flipping activity for the moment while we get a clearer sense on the trajectory of the market. As newbie investors, my partner and I are really taking this time to build cash reserves, increase credit scores, and take in as much information as we can. Like everyone else, we're monitoring the economy as a whole, and our real estate markets to see the direction they're going in.

For those of you who have decided to pause flipping, what triggers are you most carefully monitoring to indicate it's a good time to get back in? 

Thanks guys, and hope everyone's staying safe!

New investor checking in from NYC! Great seeing so many women at various stages of the journey - super inspiring :) 

I'm working with another female partner and focusing on fix + flips in the Atlanta area. Would love to connect with other ladies in either of those markets (and if anyone ever wants any insight on the New York market from a native who worked in real estate here for a number of years, don't hesitate to reach out!) 

Keep at it ladies x 

@Ronan Donnelly That's a great way to think about it.. I think we were trying to tailor our plan to what we felt thought they would be comfortable with, but we should definitely format to meet our goals and needs, and find investors that align with that. 

@Brenden Mitchum Very helpful, thank you!

@Brenden Mitchum Still honing in on exact neighborhoods, but focusing on OTP areas. After doing some research, seems like there's a growing demand in those area, and they tend to have better school districts and lower crime rates.