All Forum Posts by: Tina L King

@Virginia VanOeveren I was told being approve for a house (reg. mortgage) and being approve for a loan to rehab the house is two different things. Meaning, If I'm going in to flip a house to sell, I wouldn't necessarily need a reg. mortgage lender. I have a question to that; how would a loan be written up for a house I didn't purchase? Thank you, I hope I didn't confuse you because this is how I got it.

Thank you for asking this question, because I've been going back and forth in my thoughts getting started, it's very scary and I'd feel much better having a mentor to walk me through. Thank you for sharing 

Thank you for this post,because I am new to investing and I am seeing lots of terms that I'm trying to familiarize myself with. What I am getting from the friendly leader term is, I have a better chance at getting a my project fiance through them. Am I correct.  Which leads me to ask this question, can you tell me what documents I need going in to a lender? And I'm trying to understand, Is it the house I'm getting qualified for purchase, or is it loan for the reconstruction of the house I'm being approved for. I need someone to clarify this for me. Thank you.

Will you need the same for hard money lenders? Meaning the same documents. Will new investors need additional documents?

@Diyan Yap Can you tell me exactly how wholesale works,it sounds like being on the phone all day ,like telemarketing, is it? Cause that's not going to work in my favor. I need someone to really lead me to a site where I can watch an actual wholesale. Thank you.

Hey Good people,

Can someone please tell me what advice you would give someone with little to no money going in to do their first flip? Since all of this money is being borrowed and paid back in a short amount of time. This is what I'm thinking, since everything is based off loans, I'm thinking of getting a 1-3 percent loan as a down payment going in and the rest through lenders, can this be done? I have a nearly perfect credit score and I'm gambling on that for my first project. Anyone else have sound advice? Thank you all 

Thank you @Linda Labbe for reaching out, I'm still learning and getting organized on this site. Can you tell me about your group and what do you guys do for new investors like myself? Thank you again for your time, patience and knowledge.

Heey!! Thank you for your response and wisdom. I am in the Houston area and at times I don't know where and when to hop in. I do have a question though; I am just starting out and I would like to know is it necessary to have a good piece of change doing my first flip? Since most of the funding comes from loans, to be paid off in a short time, is there strategic ways to finance your down payment starting out? I hear stories of people being broke doing their first flip, I'm trying to find out how is that possible. Thank you for your time.

I want to thank you all for your responses as I learn and find my way as a new investor.

I thank you for asking this question, Because I'm thinking you have to have all these people in place first and I don't know anybody and the thought gave me anxiety. So I appreciate this post.