All Forum Posts by: Daniel Howard

@Cody Backus Thank you for the feedback. I would love to hear about some of the lenders that you have connections with. I am looking largely to invest in the Ogden area, but anywhere along the Wasatch Front would work great for me.

I'm shopping for a hard money lender for my first flip. I'm making phone calls and asking questions about each lender's terms and how they expect to work with real estate investors. Does anyone have any suggestions on anything that I should ask or be aware of while searching for a hard money lender as a beginner? What are some of your experiences?

Thank you

@David Weintraub and @Tarik Turner thank you both for the feedback. This helps get me started in looking for deals that I can present to HML's. I'm just starting out, but I'm hoping to find my first deal within the next couple of months. Thanks again.

@Drew Clements and @Coco Zuniga Thank you for the feedback. I will go check out some of the meetups and see about contacting Cody and Andy.

I am looking to do some house flips, and I was looking to buy from a wholesaler as one of my methods of finding good deals. Does anyone know any wholesalers or how to find a wholesaler?

I just realized, I also forgot to ask one more question. Do hard money lenders or private lenders ever finance the entire deal, or do they require a down payment?

I've been looking for a hard money lender or a private money lender, and I will be contacting some of the places that look promising to work with. Before I do that, I had a couple things I was not sure about.

When working with a hard money lender, the typical advertisements that I have seen indicate that they will determine whether to do a deal or not based on the property, meaning, I have to find the property first, then they will determine if they fund it. That leads me to believe that I should start working with an agent and start actively searching for a good deal. My only concern (having only bought a house on a conventional loan) is that sellers and agents will be hesitant to work with me without being pre-approved in some way. Do hard money lenders typically work by offering to do a loan on a specific deal? Is there anything I will need to do since I will not know whether or not I will receive funding until the deal is presented?

Being that I'm a beginner, I was curious what everyone else's experiences were like working with a hard money lender or a private lender, and what that process is like.

I'm a newbie to REI. I bought a house of my own just a little over a year ago, and I'm eager to start buying investment properties. I have quite a bit of equity in my house, so I'm in the process of setting up a HELOC to help fund some of my deals.

While I'm anxiously waiting to get that all set up (I need to take care of some minor repairs and updates after renting to my brother before I can get an appraisal), I am eager to be searching for deals; I really enjoy the hunt (though I think there are a lot of ways I can improve my searching techniques). The problem right now is that I don't have a lot of cash that I am ready to tie up into a deal, so I was hoping to network and make an arrangement, specifically for a house flip in which I find the deals, do the legwork to get the repairs done, then get it sold, while the partner finances the deal and manages everything to make sure his/her money is well-invested.

My question is: What kind of partnerships have you guys had that you found beneficial, and what were the best ways that you found to arrange to work with a partner? I'm looking specifically to partner on a house flip so that the partnership doesn't have to be long-term. I look forward to hearing from everyone.

Read the Ultimate Beginner's Guide to Real Estate Investing on BiggerPockets. This is a great place to get started in building up your Real Estate education. I'm just starting out and looking to make my first investment soon, but long before I started looking seriously, I spent some serious time doing research. This book is one of the best things I have found to get started in determining where you want to go in Real Estate investing.

Like several other people on here said, listening the BiggerPockets podcast (I listen to it on YouTube) is a great source of information. BiggerPockets has provided me with a lot of great information; definitely take some time to read through some of the blogs and forums on here.

Thank you for sharing. I love hearing the successes of other investors out there. I'm preparing to buy my first investment property, and I'm also interested in doing flips. I like hearing about the successes and some of the setbacks that were overcome to make real estate investing worthwhile. I hope to learn from your advice. Good luck with your future flips.