All Forum Posts by: Quoc Ho

Hey BP, 

Have an opportunity some of you guys might be able to help me out with.  Some investors we've recently met through a mutual friend are in need of some funding for a big project.  Most of their cash is tied up in houses right now that they are flipping and waiting to be sold.  They found a multi-home property for a couple hundred thousand but they said it was appraised for about a million.  They just need some funding in order to get the process going.  They requested $81,000 and said that they'll payback the money plus a 100% return.  Turnaround time would be around 3 months.  We asked them how can they afford so much of a return and they said with the amount that they are going to make of this investment, $81,000 is affordable to them, they just need help with the initial capital.  They said we can put a lien on the property to insured we will get paid.

Question is: is this too good to be true, what are some questions we should be asking before we finance them, what can we do to ensure we do not get ripped off.

Any answers or help would be greatly appreciated.

Thank you.

Hey Joe. I'm pretty new to the real estate business too and I'm located in San Antonio as well. We should meet up sometimes and discuss game plans, strategies we've learned, etc. if you want. Let me know. And great job on your first house!

Thanks @Athena Pettway

I was looking into buy and hold/rent and possibly doing a couple flips to get more cash flow to get more properties.  Not sure if that's the best route to go? Also, been trying to read up more on house hacking on the side as well.  Any specific links or threads/post on bigger pockets you would recommend?

Thanks Michael!!

Hello everyone. I'm new to BP.  Started listening to podcast and reading forums and blog post already.  My partner and I are very interested in real estate, but of course, there's always that fear of what to do, where to start, and "Am I doing this right?".  We went to a few of those real estate seminars where they try to upsale you at the end.  Is it worth it to pay $8,000 to $30,000 just so you can have a mentor that can walk you thru everything step by step, helping you set up a power team, leading you through the rehab process, finding and closing on deals, etc? We want to start, but we're still trying to figure out where and how to start.  If the seminars are not worth it, which blog post, podcast, forum post would you guys recommend I look at to get this ball rolling. 

Thanks in advance! BP is awesome!