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Updated about 4 years ago on . Most recent reply

User Stats

21
Posts
10
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Brennan Thomas
  • New to Real Estate
  • Canton, OH
10
Votes |
21
Posts

House flipping advice

Brennan Thomas
  • New to Real Estate
  • Canton, OH
Posted

So I'm new to REI and trying to get started.

not a ton of money to play with

Flipping some houses for some start up money to more passive ventures seems to be the way I’m leaning.

I've been talking with a hard money lender who is willing to cover 100% of the loan rehab and closing if it doesn't exceed 70% ARV.

all it takes from me is an initial invrstment of $3000 to have access to their software and services, and i pay ernest money.

is this a good deal and good idea?

Most Popular Reply

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3,034
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2,019
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Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
2,019
Votes |
3,034
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Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
Replied

HML telling you to pay $3,000 up front for access to their software and services is a major red flag for me.

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