All Forum Posts by: Nicole Graves

@Cynthia Hartley Congrats on getting started in real estate investing.  I understand your question.  I would agree with @Darrin Carey, as I recently had a deal where the owner was willing to do owner finance during the reno and I was looking to only have the rehab financed (to save money on fees, etc).  There were hard money companies that said "yes" however as Darrin stated they each wanted to make sure that they would have 1st position and that the owner owned the home free/clear. Otherwise I would need to take out enough funds for the purchase and rehab.  Wish you well and hope this helps!  Take care!

@Account Closed

Have you ever had issues with not being able to find an end buyer for an REO after it is under contract? Do you know what happens with the contract if you are not able to locate a cash buyer? I have a house that I would like to put in an offer for and rehab it, but incase I am not able to and would like to wholesale it another investor I'm wondering what happens if my funds don't come through?

@Daniel Geb

A good place to find agents that may have more experience working with investors is to look on the BP Community Forum for your area and ask investors there for feedback on agents they have worked with previously and had a good experience with.  I did this and received quite a few recommendations from more seasoned investors.

  Also, local REIAs often have sponsors who are real estate professionals that they can refer you to including agents, lawyers, contractors, etc. There's a wealth of knowledge there. Wish you well in your investing!

Thanks for the specific names and company recommendations.  Like I mentioned I had a few specifics in mind and this was helpful to get feedback before moving forward. 

Hello BP Colleagues,

 I am just starting out and looking to use transactional funding.  I have a few businesses in mind, but before going through I wanted to get some referrals from BP and see what companies others have had good experiences with.  Thanks in advance.

@Eric Miller Thanks for the feedback.  I'm constantly reminding myself to stick to the numbers... and not become emotionally tied to a house.  First flip will happen, but want to make sure we are prepared. Thanks again for sharing.

@Eric Miller Congrats on your first flip! 

 I have a house that I'm interested in and working on putting together an offer this week.  I have a question for those who have already done flips as well.  We have financing for the house, estimated repairs from our general contractor, and fees (closing, realtor, holding, etc), but  my fear is that we would be in a bind if something else came up.  I've tried to be conservative in my calculations and even budgeted for about $10K over me actual est. repairs.  Anyone have any advice for pressing past this fear- I'm concerned we may get in the home and it need some huge unforeseen repair pushing our budget up by say $50K (worst case scenario).  Should we wait to invest until we have about this much extra funding or cash reserve outside of our reno budget?  Hope this makes sense appreciate any helpful feedback.

@Tay Johnson Welcome to BP. Be encouraged!  I agree with @Brandon Turner definitely set up alerts so that you can receive other investor posts in your area. You never know if an investor may be looking for homes in your area. 

@Emzie Blankenship Welcome to BP! I am new to investing as well and BP has been a great community to learn in. I have found the weekly webinars to be helpful and the BP podcasts to be full of priceless information from more experienced investors on everything from flipping SFR to commercial real estate. While there is a wealth of knowledge available on BP, it's also a great place for newbies to grow by sharing ideas and feedback with others as well. You're definitely in the right place on the forums-it's a great place to network.

Not sure if you've found your local REIA for your area, but that may be a great place to start to network with other investors in your area and also find out about deals in your area.

Wish you well in your investing.