All Forum Posts by: Jairus Gunn

@Ann Bellamy @Rick Pozos Haha thank you both for the kick in the butt. You are right. I've marked down 4 meetings on my calendar. Ann thank you especially for the info about meetings in my area! I had assumed all the meetings would be listed on the national REIA site.

I'm curious as to people's thoughts/experiences advertising a deal on something like a Craigslist, or is there a better site for that sort of thing? I still plan to go to the reia meetings but I want to do something while I wait.

Thank you for all the responses.  Regarding what I meant by astronomical fees.  When all is said and done (with the lenders that I've found) I would end up paying north of $10,000 In financing, and having to borrow 50 when I only need 30.  And while there is still room in the deal for me to make a profit, that hardly seems ideal.  It is my solid plan b right now, but I'm really hoping I can find some cheaper money.

The suggestions about the IRAs were interesting.  I didn't know you could make use of those funds.  Unfortunately the reason I don't know much about IRAs is because I don't have one, and there is no one I know personally who I'd feel comfortable asking.

I've been wanting to attend an REIA meeting for a while now, but I live in western ma and there aren't any near me. I'm reluctant to make the 2+ hour drive because I don't know what to expect from those meetings, and I fear I'll waste an entire day. (Though seeing it in writing now, I guess that's a relatively low risk)

I've looked into personal loans but haven't had any luck.  

Thanks you again for all the responses.  I appreciate you taking the time to share your knowledge and perspective with me.

Hi, I'm a relatively new real estate investor. I'm interested in a property that I would purchase for $35,000 with a rehab budget of $30,000. The house should sell for $140,000. I have the cash on hand to fund $40k of this project, so I'm just looking for that last $25k. I've looked at hard money lenders, but I'm having issues. Either: A. The loan amount is below the lenders minimum B. My lack of experience is an issue C. The rate/fees they would charge are astronomical I think for such a small loan that finding a person rather than a company is my best bet, and therein lies my question. Where do I find private investors?