All Forum Posts by: Cynthia Eugene

Are there any success stories for the first rehab and flip deals?

Great to know. Thank you. Just to be sure I understand. Most notes are a package deal and by contacting the owner I will have a chance to purchase to entire property itself.

I am using a free trial with foreclosure.com and there are delinquent properties listed. Is there a way to purchase a lien and find out how long it will be before it is considered that the owner defaults and I assume ownership of the note?

You are correct. Mr. Padilla. I am learning so much just reading the different blogs.

Thanks Andrew. I figured that the best way to keep more money in my pocket is to use a private investor.

Happy New Year. I am finalizing the paper work for my LLC and have a property in sight in my neighborhood. I am trying to get a private investor vs. a hard money lender. I recently read on BP the information about "financial analysis". From experience do private investors charge interest on the loan or prefer to take a percentage of the net profit for it to be considered a good investment. For example, if the investor funds 80% of the deal and charges 6% interest on the loan amount this would yield less money in the total return of their investment with a flipped property (given you flip in 60days) versus if they want 10% of the net profits. For example 80% loan on $100000. Property is flipped and resold for $150000. Brokers fee is 4% ($6000), Investor gets 88800 (loan and interest), closing cost perhaps is $20000. If I spent $10000 to rehab and $20000 for the down payment using the Cap Rate formula NOI/Property Price= $35200/136800=25.7%. If the investor wanted 10% of the NOI they would yield a profit of $3520 vs. $800 only on the loan interest. Or perhaps I am mistaken that the investor would not do a 6% interest rate on a 12month scale but rather charge 6% off the top? Please assist in responding to what is the normal trend. Thanks

When purchasing a property to flip and resale, is it necessary to invest in owners insurance? Or is there a way to pay for partial coverage considering your goal is to flip?

Thanks. 12:30am and reading through the blogs and the ultimate guide.

I am new to the whole idea of investing. I am a bit frustrated with myself because I don't know where to start. I guess I have to keep reading. I just want to make sure I don't mess up. My goal is to do a business deal by May. I am going to flip properties and also want to look into commercial real estate. I am realizing that these are just a ploy to have people shell out money they don't have.

I attended a workshop and the asking price for a 3day seminar was 2000$ has anyone tried their workshop and become successful?