All Forum Posts by: Carlos Ramirez

Avoid hard money loans if possible - the high rates will cut into your profits.

Look into FHA 203(k) or HomeStyle renovation loans to roll purchase + rehab into one fixed-rate loan. Just be aware of 203(k) contractor requirements.

Consider a conventional renovation loan from a portfolio lender - competitive rates, use your contractors, easier to qualify than HomeStyle.

Lower cost, fixed-rate financing is key for maximizing profit on your first flip. 

Let me know if you need any referrals!

When starting out, it's best to make calls to potential clients yourself to build relationships. I've found interacting on social media, especially Facebook, leads to great connections with leads. But I still cold call previous homebuyers in the and email blast listings. Staying relevant in a crowded market takes consistent effort. The key is positioning yourself as an expert who provides value, not just sales pitches. Share useful info and insights about the local area and real estate tips. That knowledgeable content and outreach builds a strong brand over time.

Would love to connect!

Closer / Visionary Needed

!I'm an integrator spending way too much time on the phone. I am looking for a visionary/closer that is looking for a partner to build a killer business with. I have a ton of lead gen ideas and have gotten pretty good at automations and texting with REI Reply.

I have done flips, rehabs, wholetail and wholesale.

Goals:

1. To create a wholesale business to generate cashflow.
2. Keep the best of these deals as either LTR/STRs
3. Have fun building an awesome business at solving people's problems.

I'm mainly investing in Houston, TX but am open to other markets (especially FL, TX )

Who wants to focus on what you do best and build a great business in 2023?

Investment Info:

Other fix & flip investment.

Purchase price: $850,000
Cash invested: $850,000
Sale price: $3,000,000

https://www.zillow.com/homes/505-Mountain-Dr-Santa-Barbara,-CA-93103_rb/15884812_zpid/

What made you interested in investing in this type of deal?

My company saw some distress in the property.

How did you find this deal and how did you negotiate it?

Seller out-reach

How did you finance this deal?

Private money lender

How did you add value to the deal?

Remodeled interior, exterior, and pool.

Lessons learned? Challenges?

Learned that checking in on contractors is probably a good idea to stay on track. Hold time was a little longer than expected.