All Forum Posts by: Nick Wing

I did it through Allied Schools. They had a practice test that was exactly like the state exam. I took the practice test 3 times 2 days prior to the actual exam date, failed all with a percent of 53-56%. However when I took the state exam I passed my first try. The fact that the practice tests were harder better prepared me for the real exam. 

Get at least 2 estimates from 2 different contractors. This happened at my mothers house in the middle of the night. We had to call a 24 hour plumber and restoration place. We put that bill together with a few estimates from a few other contractors. The adjuster came out and verified the estimates and cut a check for a fair amount. 

You can write the contract as cash, with an option for a hard money loan. A hard money lender can close within 2-3 days if needed. You should always try and include a contingency period regardless of loan or not. Ask for a 3-4 days, if you are working with a good lender, that should be plenty of time to get everything lined up. Usually escrow or the seller holds up the transaction a few days anyway. 

Hey Norma,

Welcome to Bigger Pockets. We are right down the street from you in Upland/Rancho Cucamonga. If you have any questions about investing in our area feel free to contact me. 

Hey Jay,

As hard money lenders for the most part base the loan on the collateral, the only upfront charges should be the cost of an appraisal. From my experience working with hard money lenders, that is usually the only upfront fee. Some charge an upfront fee once they get to loan docs, as they need to have them reviewed by an attorney. We have been working on a very complicated million dollar loan for about 2 weeks now, and have not charged a penny to the client. i have been staying in contact with him to make sure that he will be okay with pricing and terms, while we structure it, so that when we get to loan docs the chances of him backing out are minimal. Check out rip off report and see if you are dealing with the same people. 

Hey Brock,

If you are looking to fix and flip these properties, a private lender would possibly partner up with you. What kind of experience do you have? Are you going to hold these as rentals? 

Ill be there again! It was great meeting everyone!