All Forum Posts by: Stephen Johnstone

@Steve Nazari

That is not too bad. We have a lender charging 3 points with 18% interest. But they fund up to 80% LTV. A lot of lenders stop at 65%, from what I have seen. It all depends on the lender really, because all of them are different. Sometimes you need to pay more up front, sometimes they charge you more in interest.

If you would like, there is a great RE meeting coming up next Wednesday (5/21/14) in Burbank. PM me if you would like me to give you more info.

I would also recommend going to local REI meetings if your husband is a good listener. Networking and talking to people is the best way to generate leads/info (as I am learning myself).

Welcome @Becky Nichols !

I agree with @Cal C. Biggerpockets is loaded with information, as well as lots of people who love to help us newcomers get a foot in the door. I would also recommend J Scott's books. They really helped me understand what is involved in the rehabbing business and what to look out for along the way, step-by-step.

Just don't be afraid to ask if you are unsure about something. Odds are, someone on here knows a thing or two!

Good luck!

I agree with what Rachel said. Networking has really helped in me getting a foot in the door. Go to your local REI meetings and talk to people. If you find you hit it off with someone that is experienced, you can sign a JV agreement and talk out the percentages with that person.

Good luck in your endeavors!

I WILL MAKE AN OFFER IN THE NEXT 3 DAYS!

Since it has been a couple days since J Scott posted this thread :D

Thanks everyone for the warm welcomes, and for many starting points for looking for info here on BP.

@Brandon Turner Thanks! Key words already done :)

@Account Closed I will have to look at it. Currently reading J Scott's flipping book, so that might be next.

@Aaron Norris Thanks Aaron. Getting out to some meetings is on the list!

Hello BiggerPockets!

Greetings from sunny Southern California! Specifically the San Fernando Valley. My name is Stephen Johnstone.

I have come across, and became a member of, BiggerPockets thanks to my girlfriend Michelle Ferrand (who is also part of the BP community). While I am brand new to REI, I am trying to not overload myself with information about it all.

Currently, one of our goals is to flip a house here in the San Fernando Valley within the next year. Hoping to find some great info on here about flipping houses in my area, as well as make a few new friends in this business.

Thanks everyone for being part of this community!

-Stephen