All Forum Posts by: Michael Spindler

@Chris Puglisi

What are the hours and location for these meet ups? Good for beginners?

Does J Scott's book talk about HML and doing flips with other people's money?

Does this book address investors with limited capital and investors looking to use a HML to fund a flip?

@Ryan Blake

Ryan, I definitely would agree and not use the credit card to fund the whole deal. In the case that the HML wouldn't cover the down payment, I would use the credit card. Also, use it for the closing costs and any other things that may pop up.

Is it smart as a beginner without large amounts of capital to open up/use a business credit to fund a portion of a deal? Anybody do something similar to this?

@Kyle J.

Kyle , I believe I can convince this potential investor to hop on board and fund the money. The issue I see arising is the fact that he has never invested his money in real estate before, making him skeptical of the fact that yes I found the deal but have no money in the deal. What other options are there besides a 50/50 split that would make sense?

@Caleb Jordan

So a HML will fund the purchase of 10% down and the rehab cost? Usually, it won't be 100 percent of the deal so what are some ways to convince this potential partner to fund the rest of the deal, won't he question why I have no money in it?

Just starting to look for good deals as a beginner investor looking to buy fix and flip. As somebody that doesn’t have the capital for a down payment, I am interested in using a hard money lender. Couple of questions;

1) Will the hard money lender cover the 20% down payment/rehab costs ?

2) If I brought in another potential investor on the deal who does have large amount of capital, how would I structure a deal in regards to splitting the profit?

3) Where can I read more info on hard money lenders ?

Thanks

@Bill Couture

Thank you Bill! Any other meet ups or events in the CT area you recommend?

@Bill Couture

Hi Bill,

Are they worth going to or just trying to sell you something?