All Forum Posts by: Charlotte Moore

Thank you everyone.

Good point @Luc Boiron re conventional financing and saving hard money for later deals.

@Gary Ytreeide - I've noticed that most properties in this part of SoCal move pretty fast (within less than 90 days) especially during late spring and throughout the summer. But then there are those that take much longer to sale, and I can't always tell what when wrong. I need to give myself a bit moretime more to understand the market risk before making a final decision.

Welcome to BP Hector and Mrs. Hector.

Thanks everyone for the advice. I've started reading the Beginner's Guide, and I'm devouring the information here on BP as fast as I can.

@Alex Franks. My "worry" is that this will be my first attempt at wholesaling (my prior two sales were normal primary property sells), and I'm not 100% sold of my ability to quickly find a buyer, especially with properties that are fixer-uppers and those in higher dollar ranges ($700k - $1M+). My area (Pasadena, CA) has some very high priced properties, such as small multi-units in "desirable locations", but I believe there are deals out there under the right conditions.

@Charlie Fitzgerald. Thanks for chiming in for hard money lenders. I have heard many "horror stories" about them, but I've also heard they can be very useful for some transactions. I will keep you in mind.

Thanks Brandon. I've learned so much from you already. I look forward to continuing my BP education and reaching my goals.

I will be purchasing my first wholesale property within the next 90 days. My credit is pretty good so I can get a conventional loan with a low interest rate, or get a hard money loan with a higher interest rate and fees. I also have money for a down payment. I've heard its best to use OPM (other people's money) whenever possible when wholesaling. Is this true under my circumstances?

I'm concerned about the high cost of OPM, especially if I do not find an investor/buyer as quickly as I'd like.

Please advise.

Hi Jose, Welcome.  Please share more about what you are looking for. Maybe I can be on the look out for you too. Are you looking for a fixer-upper or a turn-key property ready to move in? Will you be renting out the property, living in it, or flipping it? Are you looking in Pasadena or other areas? What is your purchase budget range? How many bedroom and bathrooms? Provide any other info you'd like.

Hi Jo-Ann. Thanks for the welcome.

Hi Paul. Thank you for the information. It's very helpful.

Hi Marlon. Thanks for the wam welcome. 

Hi, I'm new to BP and new o wholesaling and real estate investing. My goal is to learn all I can as quickly as possible and put it into action before the end of this year (2016). Thank you all who contribute to this site. I've learned a lot already.