All Forum Posts by: Deborah Wodell

Better to just have atleast have 20% down and another 10% for closings costs. From my experience, most often than not, those who got 100% funding with no exp, their deal did not go exactly as it should have. 

Hi Robert! Since you don't have a first hand experience and given a bad credit,  most lenders will require you to have a partner on the loan with a good enough experience on multi fams and credit. With a deal like this, 70-75% is the general terms you're gonna get, I'd love to work on it with you on this. You mentioned your partner has investors who would be willing to shoulder the dp...Would anyone of them who has prior experience dealing with muli-families be also willing to get on the loan with you for credit and exp. A large deal like this, lenders would want someone with exp. 

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Hey everyone,

I wanted to get some perspective on a situation a friend of mine is dealing with. They’ve done a couple of private money lending deals, had agreements and promissory notes in place, and everything looked solid upfront. But now the two borrowers they funded have completely stopped responding.

What would you do in this situation? Has anyone here had to deal with borrowers going dark even with paperwork in place? Did you pursue legal action, work with a collection agency, or find another route that helped recover the funds? Put liens on the properties? 

Curious to hear how others have handled this. Thanks in advance for any insight you can share.

I’ve been seeing a lot of wholesale deals come across my desk lately, and one thing that always stands out is how differently wholesalers package their numbers. Some are super detailed and accurate, while others leave out rehab costs, comps, or key property details.

As a flipper, that lack of clarity can make or break whether I take a deal seriously. Personally, I’d love to see more transparency around rehab estimates and realistic ARVs instead of “best case scenario” numbers.

I’m curious to hear from other flippers here, what’s the #1 thing you wish wholesalers did differently when presenting deals?

Austin, sounds like you've already got a strong foundation from your other investments, so you'll probably adjust to BRRRR quicker than most. Since you mentioned being time-limited, I'd say the biggest thing is making sure you've got solid systems and a reliable team lined up before you jump in. That way you're not buried in the day-to-day once you start the rehab.

From the financing side, a lot of investors use hard money or private funding for the buy and rehab, then roll into either a DSCR or conventional refinance once the property is stabilized. That transition piece is really the key, it's where you lock in long-term cash flow and get your capital back out for the next deal.

If you've got a sample deal in mind, I'd be happy to walk through some options and show you how the numbers could work on the BRRRR side.

Alison, I totally hear the stress in this. One thing to keep in mind is the tax angle Bill mentioned since you’ve lived in the house, selling it now could mean your $200k equity comes out tax-free. If you turn it into a rental and sell down the road, you may owe capital gains on that same money. That’s a huge difference.

On top of that, you already have one rental working for you. Maybe this house has already done its job, given you equity and experience and letting it go could free up your time, energy, and cash to focus on what matters most right now: your kids, careers, and building forward.

Victoria, you've done a lot right already by improving the property and creating strong rental potential. Like others mentioned, appraisers usually won't give full bedroom credit for a lower-level room, but it still adds usable space and helps your rental strategy, especially for students. At this point, the appraisal and DSCR lender's view of your actual rents will matter more than your ARV guess. Since paying back family is a priority, you could also start making payments from the cash flow until the refi works out, which shows good faith and eases pressure. The main thing is to have your leases and numbers lined up before going into the refinance so the lender sees the income clearly. You're in a better position than you may feel right now—solid cash flow gives you options.

Kay, that’s a tough spot, especially on a first flip. A pre-listing inspection can help, but I’d only tackle the big-ticket items buyers see as deal killers. With your timeline, speed matters more than squeezing top dollar—sometimes a small price drop or repair credit saves more than holding costs.

If retail buyers keep bailing, push it back out to local investors or cash buyers framed as “clean inspection + priced for quick close.” Even if you walk away with a slimmer margin, protecting your capital and moving on is the bigger win. This experience alone will make your next deal a lot stronger.

Past the numbers, I’d look at three big things: speed of resale, buyer demand, and exit flexibility. Days on market and neighborhood trends tell you how fast you can move the property. Knowing who your end buyer is (first-time, move-up, luxury) helps gauge risk. And if the market shifts, could you rent it and still cover debt? Those pieces often matter just as much as ARV and rehab costs.