All Forum Posts by: Mehran K.

Heya @Leo Arcano Jr , topic moved to the proper sub-forum for better visibility.

You may also want to try using the Find Members and the Keyword Alerts features to locate people living in that area. Good luck!

You're in luck. My accountant and fellow moderator here on the site lives in that area. @Steven Hamilton II . Check out his profile!

You should be able to switch the LOC over to a Home Equity Loan at any time (verify this first). I know my HELOC has that option to lock the current rate in, and then start as a loan (2nd mortgage) that will be amortized from that day forward. I'm not sure if there are any fees or other things associated with this option though.

@Brie Schmidt's advice is golden on this. Whether the person on the ground has money in the deal or not, it's important they are capable, available, and also have integrity. Your person on the ground will need to have financial incentive also. Your TK obviously does, but your partner on the ground should as well. It has to be worth their time! 

Having well defined criteria on the purchase/returns you're looking for, will help a lot. If my minimum return is 30%, and I'm getting it, do I really care what the boots on the ground makes? Just food for thought!

Ryan, I got your PM, I've just had a super busy week. I'll respond soon!

Hey there @Darlynn Bailey! Welcome to BP and thanks for introducing yourself to the community. I'm real close by, here in Woodland Hills. It's nice to see another local here on the site.

Good luck with your prepping for the exam, see you around the site!

The lender should have checked on that as pretty much one of the first things when considering the property. Some times it takes things like this to come up as learning experiences though. Guidelines are changing, but that rule about the condo owner to renter ratio has been around for a while now!

Understanding conventional loan guidelines is so important. It's one of the first things I focused heavily on learning greatly, and it's been very rewarding having that knowledge.

Welcome to BiggerPockets @Aaron Bates , thanks for introducing yourself to the community.It's awesome to see that you're looking to leverage your skills in the flipping game.

You might find The Book On Flipping Houses a great read.

To connect with some local investors, you might try the Find Members feature to connect with those nearby you! You can also setup Keyword Alerts for terms such as "Pensacola" and "Florida".

Hi Nichelle, If you haven't already, be sure to check out the BiggerPockets Podcasts, There are plenty of episodes on wholesaling and marketing for motivated sellers. 

I've also moved the topic to the Wholesaling Sub-forum, where I think you'll find more exposure to your question.

Titus, you might try and use the Find Members feature to connect with some active wholesalers/investors in your area. Another idea is to visit a local REIA and ask who people are using.

Topic moved to the right sub-forum for better exposure.

I don't see why they wouldn't. You should be able to provide that notarized note as proof. I'm not sure if they have some overlay requiring it to have been in effect for a certain period of time or not. 

You'll definitely have commercial/portfolio lenders play ball much easier when it comes to this type of income being considered.