All Forum Posts by: Tsipora Smith

A hard money lender is asset based. They secure the money they lend to you with the asset. Meaning if you default they liquidate the asset. It is harder to liquidate a rural property simply because the population size reduces the possible prospects to sale the home to.

Unfortunately USDA requires a higher credit score to have access to their 0 down offerings. Check to see if her loan is assumable then you can avoid the down payment as long as you qualify for the payment.

I completely agree, seller finance is the best way to go on this one.

If there's a Floor & Decor in your area, apply for a business card. They approve easily and you can get a lot of your materials from there. They often have interest only payments also!

@Account Closed what market are you in?

Finding buyers is the easy part. As long as you're under contract for a number that works for most investors, you'll have buyers bidding on the property. Connect with realtors (they have investor buyers), join Facebook groups and reach out to other wholesalers to JV to get buyers.

@Nic Farley We call those bandit signs, join their groups on Facebook and use realtors who have sold to wholesalers in the past.

@Michael Keane what Sean said lol

An LLC will provide more protection for everyone and depending on your tax situation it could be more advantageous as well. But it truly depends on your buying strategy because an LLC if not quit claimed when buying/refinancing would prevent you from getting the lowest interest rates and down payment options when buying.

Also, partner with wholesalers but be mindful to still do your own due diligence. Trust nothing they say. Confirm everything with unrelated outside sources.