All Forum Posts by: Huey Fontenot

I've learned that hard money is usually a good short term option. However, if you're wholesaling, there are several more steps involved. 

What is it that you have lined up?

Where is the property located?

Also I strongly suggest reading a couple of books, filtering the forums for discussions directly related to what you're trying to do. 

https://www.biggerpockets.com/forums/12/topics/318235-double-close-funding

Congrats on finding the deal @Darius A Newman!

Before you look for funding, I've learned that figuring out what you want to do with it is the next step. Will it be a rehab, buy & Hold...etc? Have you seen enough of the property to calculate the ARV? Once you've answered these questions, you'll know what funding options to look for.

Reach out if you have any more questions!

@Mitch Messer It’s a residential property located in Los Angeles. It was purchased brand new in 1996 without any major upgrades aside from solar panels that were added last year. 

@Dion McRae You are in the right place! Getting in contact with homeowners usually starts when you tell everyone what you're doing. Start listening to the BP Podcasts, read Brandon Turners book "The book on Investing In Real Estate with No (and low) Money Down" and "Long Distance Real Estate Investing" by David Greene. BP has a ton of contract templates, just type what you need in the search bar. I am happy for you and wish you good things. While I am starting myself, everything I've learned so far is from Bigger Pockets and local meetups. Good Luck buddy!

I believe I have done my due diligence on a property I'm looking to get under contract, but I'm having a problem figuring out the ARV. I have a number I want to offer, but I want to make sure it looks great to an investor. Will someone please help? I can PM you the info needed and am willing to pay for your time.

Thanks

After getting the property under contract, what do you suggest the next step is before I present it to a potential investor? @John Thedford

@John Thedford That's why I am here asking questions! You've made some very good points, but how can you assume that one doesn't have the ability to perform, if they're merely just asking questions? What do you mean by "promoting yourself as a buyer" & being a "licensee"?

@Curtis Rouse Jr What is better, a double close or assignment of contract and how do I decide which option to go with?

@Holly McDowell @Curtis Rouse Jr

 How do I determine if the property is turnkey or a rehab property, and how would I go about getting it under contract?

@Curtis Rouse Jr 

Thank you for your swift response and for welcoming me to the platform! I don't have it under contract, how do I go about doing that?