All Forum Posts by: Jeffrey K.

So where does the hard money come in? You paid cash for this castle or have it under contract? Did you buy a ticket and win it and now want money for rehab?

I think she does not want to let you in because she has been screwed by people who don't have the money to close (wholesalers). If you do not have the money to close a deal, I would not let you in one of my rentals either!

Most wholesale deals are not deals at all. If they are good deals someone is going to buy it right from them. I do not see you adding any value. Why not become a realtor?

Money is cheap right now. I would lock in low rates rates right now and start paying them down as rates rise. We are buying as much as we can right now with the thought that we will not be able to buy like this in a few year and will switch over to just PM and put all of our extra money to pay down notes.

Things were slow for me til two month ago. I just picked up three. Two REO and one SS. I really want to buy this other duplex I saw owned by PNC. All of their stuff has been taken off the market in our area because of some legal issue.

They might use tile and carpet because that is what people like. TIle stays cooler and wears better than wood. People like carpet in the bedroom becasue they walk with no shoes. You dont want to stick out for that reason.

If everyone has carpet and tile you want to have carpet and tile but laid in a nicer way and of a higher quality.

It is great to hear people talk about transactional funding not going so well. I think many of you guys have told people with a lot of cash who asked what to do with it to try this because it had no risk. I guess it does!

Making loans is risky. The way guys make money doing is by spreading it out over a lot of property which takes a lot of money (millions). For most people to make a few loans a year (one at a time) make no sense and is too risky.

I always tell new investors that you should start with a rental that needs some work. This will teach you about all the parts of this business with LESS RISK. There is still risk, but if you buy in a good area and follow the advise you get on BP, it should not kill you. Once you have tried the rental and the small rehab you can figure out where you want to take your RE business.

I would do hardwood. If you are in an area with a lot of liberals then bamboo would be better. If it were going in a rental I would always pick wood. Since this is a flip I would pick the flooring your target buyer would want. Make sure you can offer a transferable warranty.

Is this on raw land or a rehab?

When you get good you can have a spread sheet with the HD SKU on your computer and order from your phone or truck. If you are a managed account or your order is over 1k they will deliver it for free.