All Forum Posts by: Chad Kes

Hey J Scott,

I'm interested to hear your first business plan. How did you start out? Did you have down payment funds saved up? Great job on your website, by the way.

Haha. Yes this was justified!

Good luck and keep us posted!

Hey Danny,

Congrats on your first deal. I'm inspired by this. Any update?

Thanks for the advice Bryan. In your opinion, if I were to request a 70k loan from a pml, would a down payment of around 14k (20%) be somewhat of a reasonable expectation? And do you feel I need to start a LLC first and foremost? Thanks again for any input.

Bryan- Thanks for your post and welcome! It is very cool to see others on here doing well like yourself. I understand what you mean completely about having an exit strategy before starting, that makes sense! I was kind of thinking my exit strategy in case I couldn't sell/rent it in time, would be to move in myself. The only thing is, I am wondering how that would work if I chose to go the way of Private money lenders, if I would have the option to move in. Maybe you have some insight on that? Thanks again!

Andy- Thanks for that information as I wasn't ever able to find that anywhere! So is there a certain amount of time you would need to live there to establish it as a primary residence? Or could I live there for some of the rehab and then sell after maybe 30 days of living there? Sounds like thats an obvious "No" but just want to check! Thanks again!

Hey Josh,

Thank you for everything you have done with this site. It's awesome and much appreciated! Great job!

Hey Dvorah!

I would love the referral to your wholesale contacts here in Jacksonville! I do plan on investing here in Jacksonville and plan to start within 6 months! I really appreciate all of your helpful information and would love to talk with you more and get more insight. I looked into the private money lenders and I am currently just reading into how the loans work and how much they make and all the details involved. I sent you a colleague request so we could talk more if thats ok with you? I really appreciate all of your mentoring and helpful info! Thanks!

Charles- Thank you for your feedback and direction to the book. I am going to check that out. What is the title? Thanks again!

Dvorah- That is very interesting to hear! I would love to talk with you in regards to your experience with financing and also your contact here in Jacksonville. Thank you for your post and helpful info! What made you choose Jacksonville for your purchase?

Ryan- Thanks for your input regarding the 203k's. I too am interested in the pros/cons of these and the only thing that scares me is the "no investor" rule. I'm not sure what would make me an "investor" technically? Thanks again for the reply!

Hello everyone,

My name is Chad and I am 22 years old and I am very interested in investing and plan to make a move within 6 months. I have been reading BP for a while but have never posted anything. I must say thanks to everyone on here, the information on this website is by far the most helpful I have seen. I am writing to simply get any feedback that anyone could provide in regards to my plan to get started. Also, to maybe learn about problems with my plan that I don't know of.
I plan to buy a FC home here in Florida for around 30k. I'm looking for a 3/2 home that would need about 25-30k in repairs. I am thinking that I will then try to sell the house for around 100k-110k. I am currently in an apartment and I am thinking that if I cant sell the house, I can look to either rent it out, or move into it myself until I can sell it. I have pretty good credit, and have been prequal'd for a loan before. Here is what I am not too sure about, I think I am going to get some type of rehab loan (i've read some about a 203k rehab loan). I am wanting to get anyone's thoughts on the best way to finance this investment and the different options I have.

Again, thanks in advance for any help at all!