Network Building for Future Business

[Sean Thompson]

Hello. i am looking to build my network with like minded business people all around the country. i am new to the forums to forgive me if this is not the place to be doing this. 

i am interested in turn key properties, and hard money lenders for the time being. im working 1 current strategy, with a second if the numbers work out well. my current strategy is to purchase properties at 75% of value using a hard money lender, then immediately refinance the property to pay off the HM lender. With my current financial position, the properties need to have at least 1.2 rent/value ratio or higher, be 75% of value, and $150k or less. 

if the numbers work out in the near future, i would like to start using hard money lenders for the down payment and closing costs on the properties, and purchase them traditionally. i would like for these properties to also have a 1.0 or higher rent/value, and with my current credit i can get approved for around $150k-$200k, so the property would need to be below that. 

once i fill up my 10 allowed traditional financing properties, then i would go hard money lenders for down payment / closing costs, and private financing for the long term. by that time though my own portfolio should be able to provide down payments in leu of hard money. 

your comments and positive feedback / critizism about my strategy going forward is appreciated. i am a brand new real estate investor, finishing up on my first hard money/refinance acquisition now, so im just getting started and looking to grow the portfolio quickly. 

thank you