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Updated over 10 years ago on . Most recent reply
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Long Beach, CA. Want to Flip First Time with Hard Money, Advice ? Mentor ? Network.
Hi, Im Tom from Long Beach , CA.
I have been reading a lot and am almost ready to do my first flip. I am looking for some advice, maybe a mentor. I need help in getting the ball rolling.
I am a licensed Electrician. I bought an REO in 2009, Complete gut/ remodel, to start my REI journey. I have been slowly gutting and remodeling this house for the past 5 years.
I have a lot of commercial construction experience, and this house has given a lot of home remodel experience. Im almost done with this house, and ready to make my next move.
I would like to flip and hold properties. My goal would be to get enough passive income properties to not have to work a 9 to 5. Then buy more properties. And then buy more.
I have good equity in my house, a decent 401K, Great Credit, but not that much cash.
I need info about hard money loans.I need to know what I need to get a hard money loan ? ( documents, ect.) The best ways to find deals ? Where are the local REI meetings ? Will I be able to flip and hold ?
Im kind of terrified of taking the first step. So any advice or pointers will be appreciated.
Im here to network and lean, if your in the area, let me know
Thanks