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Updated almost 2 years ago on . Most recent reply

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Jeremy Solomon
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New investor looking for advice

Jeremy Solomon
Posted

Hello B/P. I am brand new to investing in Real Estate. A coworker of mine was telling me about his investing and I asked to get involved. He sent me a contract for me to do some hard money lending in support of a property he is looking to flip. I'd greatly appreciate any help any of you could give on things to be careful about or any tips you have. Thanks in advance.

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Carlos Valencia
  • Lender
  • 92703
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Carlos Valencia
  • Lender
  • 92703
Replied

Hello Jeremy, 

If you decide to partner with your co-worker on this hard money loan make sure you proceed with caution. It can get messy real quick and can potentially cost you more money if you dont know how to use it to your advantage. So many thing you need to consider before moving forward. If you are new to this I would recommend against it as so many things can go wrong. Unless your co-worker is an expert at flipping properties and you trust his numbers maybe but even then theres still much to research before jumping into this risky deal. 

@Albert Bui @Matthew Kwan

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