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Updated over 7 years ago on . Most recent reply

User Stats

26
Posts
8
Votes
Stephanie Foster
  • Rental Property Investor
  • Charlotte, NC
8
Votes |
26
Posts

First buy and sell deal- advice going forward

Stephanie Foster
  • Rental Property Investor
  • Charlotte, NC
Posted
Hello! My boyfriend and I have been working in the real estate field with a few of our own investment properties for the last few years. He completed a single family renovation ($35k), rented it and sold it two years later to put down on a six plex. In the middle of that he acquired a duplex completed some renovations ($25k) and have it fully leased generating great numbers. We are finishing our largest renovation deal of our triplex ($160k) that is fully leased with plans to hold the 11 rental units for income. Now that we have established a good basis for renovations with a team set up- we are wanting to do our first flip. We are looking for hard money lenders but since I only have the triplex experience that was this year, the income isn't on my taxes just yet. He has the three years of proof of income and 8 rental units that are fully leased currently so I am assuming I wouldn't qualify to get hard money on my own. Any advice looking for hard money for myself? We work together so we can just use his income if needed. We do live in Alaska so there isn't any local companies only private lenders. I am also open to working with someone who is more experienced which is always recommended. We have connected with a few people locally but any recommendations would be great as well! We are working on generating leads and getting things rolling so any input is always welcome!

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