All Forum Posts by: Cheryl P.

@Elizabeth Nourse I am game for any opportunities to connect with local investors and information share.

Great idea.

@Nick Schmaltz While I am still seeking my first deal I would recommend you find the deals to present to people with all the number breakdowns so buyers will have some sense of what you bring to the table. You can focus on the market you are interested in using everyone's favorite 3 bed/2 bath criteria and shop it to your local "We Buy Houses" investors. Find a local REIA and pick flippers brains....

I recently listened to a BP podcast (which I recommend you check out all the one's on wholesaling) and someone recommended that you put together sample deals to show potential buyers how you would structure a deal.  Check out the wholesale calculator on the Analyze tab, I think you get a couple free tests without having to upgrade your account.

Good luck

@Jason Crouch you also need to confirm but many HML want a down payment also so the borrower has some skin in the game. Have you tried looking for a local bank that does portfolio lending or HELOC on investment property.

I am debating the pro's and con's of using HML for fix/flips with conventional re-fi as back-up if property is not completed or sell within 120-180 days. HML is expensive but I like that I can get purchase and rehab costs.

Also looking for lenders that will allow me to pay PMI upfront at closing in lieu of down payment and monthly PMI payments. This would free up my cash while still using a conventional loan with low interest rate. But I'd likely have to fund the rehab.

@Thomas Chappell Welcome to BP and good luck with your investing

@Makenzi Kurvits-Statum Welcome to BP you should find a lot of useful information to get started on your RE education.  Check out the Ultimate Beginners Guide and all the podcasts to get you started.

Good luck.

@George Rodriguez Welcome to BP, start reading The Ultimate Beginners Guide and listen to all the podcasts they are great starting tools.  Ask lots of questions here on the site.

And I agree with others about getting your RE license if you can, I am in the process of studying for mine here in Virginia. In my limited experience I am finding that having my license will give me two things that I really need (1) Access to MLS for solid comps and (2) faster access to view properties without having to rely on getting on realtors schedule.

I wish you much success.

@Jared Thomson Welcome to BP, I am also a member of Traction while granted I have not been to a meeting in while. It is a good place to network with other local investors, just be prepared for some up selling.  

I will be checking out the CAZA Falls Church meet up next week.

Look forward to seeing you at a meeting in the future.

@Michael Hence Welcome to BP you have found a great resource to get you started on your RE journey.   The Ultimate Beginners Guide and the podcasts are invaluable starter tools.  Visit the site often and ask questions, you can also use the search for practically any topic and you'll be able to get a really good conscience on how other investors handle various situations.

Look forward to information sharing with you...Good luck

@Kristen Woollery Welcome to BP, you will find a wealth of information and people willing to share their experiences and best advice here.  The Ultimate Beginner's Guide and the podcasts are great starting points and can help you start to define what area of RE you want to focus on.

Good luck.

@Char Prado will do, I am looking to information share with local investors.

Thanks,

Cheryl