All Forum Posts by: Joe Butcher

Why is it that sometimes when I click on a forum post I get a message that says "this forum is private" and it won't let me view the message?

These are not posts that would be in any areas that are restricted to Pro members, or at least I don't think so.

Be confident, friendly and self assured when you are meeting people. The first question I hear a lot is "what is your niche?" so it helps if you have a definite answer.

Congratulations!

Heres a good list. Nothing really in Preston Hollow that I know of.

https://www.biggerpockets.com/forums/48/topics/95691-dallas-fort-worth---dfw-list-of-reias

I visit family is Spring Hill fairly often. Looks like a lot of potential there to me.

How did you go about building your buyers list?

Excellent reply @Shaun Reilly

Not being able to get out of the HML was one of the things that crossed my mind.

My plan going forward is to talk to a RMLO who deals with investors and a HML and tell them my plan. I still think I need to save a little more cash before I can pull this off though.

The reason why I brought this up is because a property I offered on this weekend is a perfect candidate for buy and hold, but from the sound of it I still don't have enough cash to make it happen.

@Wayne Brooks thank you.

So lets say there was this scenario:

45,000 Purchase price

85,000 ARV

20,000 Rehab est.

So I would need 9,000 of my own money? Also do HMLs lend rehab costs or do I need that in addition to my 20%?

Also, if there are potential pitfalls to doing that I would like to hear about that as well.

Thank you.

I started marketing to absentee owners a couple months ago. Have made a few offers but no deal yet.

Ultimately I want to be a buy and hold investor.

Lets say I got a house under contract and I thought it would be a good rental property for me. Could I use hard money to buy the property, do the rehab (if any) and then refinance that into a conventional mortgage?

How exactly does that work? Has anyone here done that? I have no experience with hard money lenders other than talking to them at REIA meetings.

If anyone can walk me through the process (if indeed this is a possibility) that would be great.

Thanks.

JB

There are quite a few discussions on this already. Use the search bar on the top right of the page.

You said you have limited cash flow. That would suggest you should be looking for free education, which you can get here and with your local REIA groups, of which there are probably a ton in NJ. There are no secrets in RE investing. No guru/seminar/course is going to give you any information that you cant get for free elsewhere.