All Forum Posts by: Nathan Harden

If you find something that will have an ARV in first time homebuyers/low income buyers price range in Pierce or Thurston county. Send them my way, please! I like 3 bedrooms but can make 2 work. If I can make 15%+ on it, I'm your man!

It sounds like you just answered your question. You said that you just don't have the money for HELOC payments right now. Boom. There's your answer. Heloc is out the window.

Remember, rates are dropping so doing a refi on your primary may just be what you're looking for.

All the best!

It doesn't sound like its that great of a deal and with it being so far away from where you are located right now. What made you choose this particular property?

That is a solid budget for the area. You mentioned utilizing FHA financing. Just remember, FHA is going to be more strict on the properties that will qualify for FHA lending. You will not be able to get a serious fixer using FHA but I would look at houses that need cosmetic rehab. Something that is easy for you to DIY while utilizing FHA.

On market is going to be your best bet right now. A lot of off market deals will be houses that need more work so finding an off market deal that will go FHA will be even more difficult. That being said, get ahold of some local wholesalers. You never know, they may have just what you're looking for.

I would re-run your numbers for the flip aspect. You are not calculating any carrying costs or closing costs on the final sale. The margins on that flip are terrible, do not try and flip at that purchase price, PLEASE!

A good rule of thumb for flipping is 70% rule. Buy it for 70% of the ARV, minus the repairs on top of that. So you should be looking at a purchase price of somewhere around $137k. I would offer even lower, just because a $20k rehab seems very minimal, always leave room for things that come up during the renovation process.

Simple. You start by talking to individuals that have more available capital than you do. You have experience under your belt so that will help you out as well.

It sounds too good to be true but, in all reality, it is just a simple conversation that can start up your momentum. 

You only need 1 Yes.

I am in the middle of a current flip as we speak. Some great tips in your post!

On my previous flips, I have found that the Clearance section is your friend! I have never spent over 70cents a sqft for laminate flooring. On my current flip, I found flooring at Home Depot for 64 cents a sqft. I pick up the flooring myself and deliver it to the property a couple of days prior to install (so the floors can acclimate). This saves money because usually when a contractor tells me that they have the "hook up", the hook up is still more expensive than the Home Depot clearance rack. 

 This is exactly my thought process. 

"Those promoting their paid memberships are likely better at marketing and promotion than real estate investing" I think this hits the nail on the head.

I have actually started pulling local landlords in my area from Propstream over the last month. I have had some great conversations, some lasting an hour +. The weird thing that I have learned is that the ones who have these 100, 200, 300 doors are people you would never expect, they keep their money quiet. 

I guess the book, The Millionaire Next Door is spot on for the majority of self made millionaires. Not every investor out there is as flashy as a Grant Cardone, but that doesn't mean that they don't have money.

Thank you for the reply!

 Thank you for the reply. This is exactly why I made this post. I am very wary of all of these gurus out there right now. It seems like they are everywhere right now and I don't want to just put money into a "guru" that has just as much experience as me, or the course sucks and I could have got the same information from Youtube. 

 Subto does terrify me as well to be honest. Was just more trying to learn more information on it to add another tool to my toolbelt for if and or when the opportunity ever arose.