All Forum Posts by: Tessa Burks

@Elliot Galpern ok I just wasn't sure if you can get funding for a flip and occupy the house. I am a newbie. Could I use hard money to do fund this property? I don't have any money down. However I do have 20k dollars in equity in my house but I haven't looked into what it takes to get that pulled out. Would a HELOC be a good option? Or hard money, if that's possible? Or what would you do? Sorry for all the newbie questions!

Hi again! 

If I were to rent out my house, can I purchase a flip and live in it during the rehab? Then eventually move back into my house and have the house that I flipped become my first rental? 

Hello everyone, 

I need some advice on whether this is possible or not. I came across a 4-plex that needs some rehabbing. My fiancé and I have about 20k in equity in our home. This 4 plex is listed for 128k and it is in a good area. Im not exactly sure how to guesstimate the repairs by looking At in online but it doesn’t seem like it would be too bad. Would using a conventional loan to finance the property and then rehabbing it with out homes equity be a smart move? We’ve even considered house hacking ***but we have two kids and I’m not sure about the size of these individual  apartments*** Any advice on what would be the the smartest thing to do on getting started with a rental AND if we went the house hacking way would be greatly appreciated!!

Hi @Carla M. glad to see another local! Yes, we could definitely get together for a coffee sometime. Have you made any deals yet or have any real estate experience or are you just starting out? Would love to talk with you! 

I recommend reading J. Scott’s - The book on flipping houses. You will be so happy you did. There is a whole chapter on working with contractors as well as a whole chapter on creating your SOW. 

Thank you very much @Nathan Gesner!

Thank you @Toni Annis!! Very happy to see some locals! 

@Jerry W. Thank you so much, and will do!  

@Jerry W. Thank you! I am very anxious to get going as I also know there are many opportunities here. I drive neighborhoods weekly, sometimes daily and see potential flips and vacant homes, I just don’t fully understand the process of getting started on my own so that’s why I am here. I am overly excited to be on this site and to be reading the book on flipping houses. I just feel in my heart this site is what’s going to help me kick off my career. I’m sure I will be reaching out to you! Thank you!

Thank you! I just got The book on flipping houses -by  J. Scott. last night in the mail, I am in the middle of reading the Ultimate Beginners Guide to Real Estate Investing and attended the latest webinar that Brandon Turner hosted. While driving I listen to the BP podcasts. I am just so happy to be here and thank you for the warm welcome! You can guarantee you will see me on the forums, I plan to make 2018 the official start of my real estate career!