All Forum Posts by: Kam Lau

I’m super nervous about hiring a Virtual Assistant but we need one badly. I’m one of those people that always thinks there’s a scam artist around every corner...because there is! Can anyone give me some advice on what to look for and perhaps a recommendation? I’ve priced a few and they seem to have about $7/hour on average. Thank you in advance.

@Dalyn Hazell ughhhh....I meant to say Prop Stream. Ok well that answers my question anyways. Deal Machine is a D4$ app so it’s not the same as Prop Stream anyways. Lol. Forgive me.

The name of the post says it all. I’m looking to find more motivated sellers and before I invest in either program I’d love to hear some feedback since they both seem to do pretty much the same thing. Any and all input is greatly appreciated! Thank you!

@Tony Angelos so say for example I get a property for 80k, needing 30k in rehab and it has an ARV of 150k. Would they typically finance 75-80% of the purchase price or the ARV? Since 75% of the ARV would 112k, does that mean they would finance the full 80k plus rehab? Thank you. Newbie here. Lol.

@Michael Kinsella very helpful. Makes sense. Thank you so much.

@George Cox they will need to see 10% of rehab costs even if they are financing 100% of the rehab costs?

As a new investor I’m like a sponge. I’m looking for every piece of knowledge that I can find to fill my head with as I begin my journey.

The question I’m asking my peers on here is, how much money should one have in reserves before starting a Fix & Flip, considering I will be using a Private Money Lender. I know I will need to raise the money that they will not cover, 20-25% of the buying price. I know some people do this with no money in reserves but that seems a bit risky to me. I’m looking at buying a property in the 80-100k range, single family.

How did you do your first deal? What are your thoughts on this? Do you recommend PML or Hard Money and why? Any input will be greatly appreciated. Many thanks.