All Forum Posts by: Michael Durand

@Amberle My partner and I, have a credit repair company. We've been helping our clients boost their credit scores to qualify by home mortgages, getting into rentals, and having the ability to purchase a vehicle. We're actually repairing their credit, providing them with credit education, and providing access to high grade tradelines that significantly increase their credit scores.. If you have clients with poor credit, send them our way.. We have an affiliate partner program as well, that you can benefit from.. I'll PM you. 

Dean, You make a great point and this is the reason why I am looking for an attorney that will be able to help me draw up some type of partnership contract, a joint venture contract so that everything is in writing and no one can say they don't know their roles in the partnership. I know how some people can get and that's one of the things that made me very hesitant to doing a partnership but if you have someone that has the knowledge and experience, you have to give it a shot but the very cautious

Charles.. Thanks for all the info but I'd actually like to purchase the property, renovate it and resell it for a higher profit. I'm aware of wholesaling and I'll be utilizing that in my business as well. I've setup my business to be in every part of real estate. ( property management, wholesaling, fix and flip, buy and hold and more...) It's all about getting the ball rolling on the area that can get me the most return.

Dean, That post was filled with so much knowledge. I'm away of utilizing credit but that is leveraging at a high level. I plan on doing something like that in the future but is like to get some flips under my belt. It's nothing like actually going out to a house and fixing it. It's nothing like sitting at that table signing the documents that the property is yours and you plan raising the value of it in a short period of time. I'm actually looking at a friend of the family whose a reputable contractor that I hear does fix and flips already for an investor. I'm looking to maybe partner up with him 50/50 I'm listening to all the podcast and reading the blog post and reading books as much as possible but I want to get the ball rolling. Pay off debt to improve my debt to credit ratio. I own a credit repair business and help many of my clients to repair their credit in efforts to acquire homes or refinance into a lower rate. I plan on looking at multiple options before Illini the trigger and I know HML can also help out with vetting the prospective properties. Thanks again

Gary... Thank you so much for the replay. I'll be emailing you so we can talk some more.

I've been on BiggerPockets but never really took part in any of the forums. I decided to go Pro to show I'm taking this business seriously. I'm in the northern New Jersey area ( close to NYC) where I'm looking to start flipping. I am currently enrolled doing the real estate course to get my license. I want to start flipping but low on funds. I heard Hard Money Lenders are the way to go and finding a reliable contractor that is willing to work with a newbie when it comes to flipping. Any suggestions? I also have my own business as a credit repair specialist. I know it's important have good credit in this business so that's why I started the business but now I'd like to be able to start flipping homes and making huge profits. Any advice for a newbie?

Welcome to BP Allen, what you're goals are is what i am trying to do as well. Try listening to the Podcast and ask as much questions as possible.. See you around

That is a great idea. The cost of supplies and labor is going up. Great way to combat the slow incline of cost.

Mike

Jamir,

I'm new as well into Real Estate Investing but definitely see it as a way to building true wealth. Welcome to BP, check out the podcast and try to look up people near you in SC.

Good Luck

Hey everyone,

Today was nerve racking. I finally found a deal that made sense/cents and put in an offer on a 4-plex that I've been looking into. 

I had no idea about the $1000 earnest deposit needed to be taken seriously. I'm just starting off in Real Estate Investing and have little to no money. There was so much information I learned today from my Realtor. I also did something @Brandon Turner says he does when putting in offers, and that is submitting a letter explain my situation as a young investor looking to purchase the property.

I'm taking the advice of many people that I should purchase a multifamily and house hack. I'm using a FHA loan to fund this deal. I have to come up with a little over $10k for down payment and closing cost. $1000 down, 9 more to go LOL

I'll keep everyone updated.