All Forum Posts by: Matt Good

I have a few newbie questions regarding conventional loans... Can you qualify for no money down? What's the best way to shop around for the lowest 30 year fixed interest rate? Can you use a conventional loan on a foreclosure provided that's it's not distressed?

I have a almost 800 credit score, a well paying full-time job of 4 1/2 years and almost no debt if that helps. Thanks!

Michael Moikeha you hit the nail on the head! Words of encouragement. Simply allow the numbers to speak for themselves. It makes no difference at all if it's a newbie or a well seasoned pro, a deal is a deal and we're all hungry!

Originally posted by @Jay Hinrichs:

@Matt Good 

I am here in PDX and I provide capital for JV deals. if you have something cooking please run it by me and I will let you know if I will fund it.. its as easy as this on BP...

I am building out in Wood Village right now and have a 27 lot subdivision underconstruction in Gresham so pretty invested here.

 Jay, that is ABSOLUTELY exciting to read! I had NO idea that BP could be that effective! I currently have "nothing cooking" per say but I will definitely not shy away from throwing a good deal your way in the near future! :-) Thank you so much!!

Good morning! What's the BEST way (if any) to find an equity partner? Just good ol' fashioned networking or is a hard money lender more realistic? Thanks!

Yeah what's "Chinese drywall?"

Please correct me if I'm wrong but the more work that YOU accomplish means more money in your pocket versus somebody else i.e. a GC taking their slice of your pie. And they will. Hiring these outside parties is only effective when YOU no longer have the time, meaning, you better be making up for it through volume/production.

Also if he's loaning you the funds to purchase+rehab then that's a private deal. Provided your name is on the deed, the conventional lender has no clue and assumes that you have 100% equity. You could pull a conventional mortgage or HELOC with a loan to value of 80+% it just depends. Yes you could pay him back. But now you occupy/rent the house. No flip.

I would "sell" the project to him like you would a hard money lender. Break the flip down professionally on a piece of paper. Show him all of the numbers and have evidence to back them up. That book that you're reading should have a template. My book does. At the end of the day, your Dad either wants a profit, or the real estate. If he's not interested in either then no dice.

Thank you Jarrod that makes sense!

Good afternoon BP people!

Does Re/Max offer ANY eduaction assistance with Pro Schools specifically? I can't get a clear answer.

Thanks!