All Forum Posts by: Michael Lindsay

What key factors should first-time borrowers consider when securing funding for their initial real estate investment?

Hello BiggerPockets Community,

As a private money lender, I've seen the transformative power of fix-and-flip projects. However, like any investment, they come with their own set of risks. I’d love to start a discussion on Risk Management in Fix-and-Flip Projects and share some insights from my perspective as a lender.

Having clear and detailed loan agreements protects both parties. Terms should include interest rates, repayment schedules, and contingencies for unexpected issues. What key clauses do you include in your agreements to mitigate risk?

Thank you Angelia.

Regards,

Michael 

Newbie from Yorktown VA. My name is Michael Lindsay. REI is new to me but I have run successful businesses in the past. Yorktown is part of the Hampton Roads area in SE Virginia, on the Chesapeake Bay. In my day job I am an IT Solutions Architect. I plan to start out with wholesale and move into flipping once I learn how to get a decent earned income stream coming in and know that I can reproduce it easily. I found BiggerPockets while searching for persons I would like to make part of my core team. Specifically right now I am looking for a tax advisor/CPA and attorney knowledgeable in REI.

I look forward to meeting other members and sharing knowledge and ideas.

Regards,

Michael