All Forum Posts by: Jeremy Kitchen

Hey, Mason! I would definitely start with finding the right deals if possible. I'd start with analyzing a LOT of deals in your area.  See what things are selling for post renovation, find a property with the 70% rule (buy a property to buy  for no more than 70% of its after repair value, which includes all fees and renovation budget), find a good wholesaler in your area or another way to purchase off market properties and go from there.  If you have the deal, the money will be easy to find by leveraging your network of wholesalers/real estate agents
Hard money lenders criteria are different than conventional financing. You usually have to have the property under contract, or close to before you can shop hard money lenders.  We don't start with a credit check or a pre approval letter or anything because it's mostly deal and investor dependent, with many variables.  I do it in Idaho.  There's still typically 20% down and other lender fees up front to show you have skin in the game. 

Also, make sure you have your criteria in order.  A hard money lender is going to ask your exit strategy for their short term loan.  Whether that's flipping or refi.  If you're going to keep it for an AirBnb (awesome idea btw), just make sure you do your market research with Mashvisor and airdna.

Hope that helps!

Hi, Shannon! My wife and I started by getting a flip property using hard money. When that sold, we paid off the Hard Money, and used the profits to put a down payment on a FHA loan primary residence. Appreciation happened, and we were able to get a HELOC. That HELOC has since funded another flip, and we loaned out the rest to another investor where we are in 1st Lien position for their loan. There's faster ways to start learning from what we've done. If you can find a duplex or if you're able to rent out the rooms in your home, you can house hack. Especially if you find something that needs some TLC, and have means to repair the property. Get that BRRRR going. Hope that helps! You're welcome to message with any questions

I live in North Idaho, in the Coeur D' Alene area. I don't know how much I can help in the Boise area, but things are moving quick up here for sure!

Congratulations!

I bought a flip and lent private money on another one.  I think I'll be trying to buy in any market, or at least analyzing and seeing if the deal works.  Saying that I'm not going to be buying, is a limiting belief.  Keeping in touch with wholesalers to get more off market deals