All Forum Posts by: Kisaki Nicole Kaopua
Kisaki Nicole Kaopua has started 7 posts and replied 13 times.
Post: Looking for contractor in Stanley, Virginia
- Posts 13
- Votes 2
Hi BP fam,
Looking for a general contractor that can do a FULL gut rehab in Stanley, Virginia. Must be licensed and insured.
Post: Looking for mentor/ partner in Virginia
- Posts 13
- Votes 2
Hi BP community,
I am very driven and dedicated in getting into real estate investing. I’ve read books, listened to podcasts, watched videos, you name it. But I’m ready to take action! I know doing is the best form of learning and I would love to connect with a seasoned investor in Virginia.
I have a few locations that I am eyeing to get started for STR in Virginia. My main focus right now is obviously to get started and make positive cash flow, but I really want to learn more than anything.
Post: Best rehab funding options?
- Posts 13
- Votes 2
Quote from @Matthew Becker:
It depends on how short you are. When I was young in the game. I used credit cards all the time. Dave Ramsey would not be pleased, but he went bankrupt investing in real estate and is only rich because he tells people how stupid he was all day. For some reason, people listen to him. Generally, you can get a card that offers 0% for transfers. So charge up a card and transfer it. You can get a car loan on your car or truck if you have a nice car with no debt. Do you have any other assets you can borrow against? If you paid cash for the foreclosure, you can get a construction loan at a local community bank or credit union. These relationships are essential to establish. I would probably not use a hard money lender.
Home Depot generally offers 6 months interest-free, and Lowes probably does as well. But there are a ton of cards out there, that officer. I glanced, and I saw that Wells Fargo and Citi Simplicity have a 21-month offer. That was just what AI said.
I appreciate the insight and honesty! I will definitely be looking into these credit cards. What a great work around :)
Post: Best rehab funding options?
- Posts 13
- Votes 2
Quote from @Raymond J. Rodrigues:
@Kisaki Nicole Kaopua as the previous comment had mentioned, I would take out a hard money loan as well. It'll cover all your rehab costs. You can use your HELOC for down payment to acquire the property instead.
paying all cash for this property so no DP required. Thank you for the insight, I’ll look into a hard money lender
Post: Best rehab funding options?
- Posts 13
- Votes 2
So you purchased it cash and just need the rehab $? I would still use a Hard Money Lender for something like this - some have a minimum but you may just have to search for a bit and find one that doesnt. You can also try FB for PMLs but a lot of those seem to be scammers. What market are you in?
Correct just need rehab $. Thank you for the input! Looking to buy a foreclosed home near Shenandoah to turn into STR!
Post: Best rehab funding options?
- Posts 13
- Votes 2
Hello everyone,
I am going into my first foreclosure property that needs a gut remodel. I can open a HELOC on my residential property, but that may not cover all rehab expenses. What loans are recommended? Thank you in advance!
Post: Shenandoah Virginia - Contractors needed
- Posts 13
- Votes 2
Hello everyone,
Following up from my most recent post! Any investors in the Shenandoah, Virginia area and/or has any recommendations for contractors? Looking for a full on house rehab! Would love to connect with you, much appreciated!
Post: Looking for a potential partner and some guidance on first foreclosure rehab
- Posts 13
- Votes 2
Quote from @Luckson Dambo:
l'd look into local credit unions, they often have lower rates and better terms than big banks. Look into Virginia Credit Union, Freedom Bank of Virginia or Dominion Energy Credit Union. Good luck!
Post: Looking for a potential partner and some guidance on first foreclosure rehab
- Posts 13
- Votes 2
Quote from @Kisaki Nicole Kaopua:
Hello everyone,
I found a foresclosure that is in a great location in Virginia, near Shenandoah. It is going for around $80K, up front cash. The whole house needs to be remodeled due to lots of wear and tear and being outdated
I am planning to use a HELOC on my current property for mostly all the repairs. Does anyone have a company they recommend for HELOCs? Also, what techniques do you all recommend to estimate a full house repair?
My plan is to fix this place up then STR. Does anyone invest in this area? If so, I would love to connect with you!
Any insight on foreclosures are much appreciated too 🙏🏼
1. Start with your current lender on your home and see if they will give you one. Local credit unions are good for LOC's as well as other local lenders.
2. Since its a foreclosure and you cannot see the inside, I would contact a contractor and ask him to give you a range for full gut rehab on X sf of a home.
Thank you for your insight! Planning to reach out to local lenders. The home is a bank owned foreclosure so we luckily can tour it! Great advice with contacted a contractor for an estimate
Post: Looking for a potential partner and some guidance on first foreclosure rehab
- Posts 13
- Votes 2
Hello everyone,
I found a foresclosure that is in a great location in Virginia, near Shenandoah. It is going for around $80K, up front cash. The whole house needs to be remodeled due to lots of wear and tear and being outdated
I am planning to use a HELOC on my current property for mostly all the repairs. Does anyone have a company they recommend for HELOCs? Also, what techniques do you all recommend to estimate a full house repair?
My plan is to fix this place up then STR. Does anyone invest in this area? If so, I would love to connect with you!
Any insight on foreclosures are much appreciated too 🙏🏼