All Forum Posts by: Noah McPherson

@Jason Richards Great answer! I probably wouldn't have thought of those questions, but they make a ton of sense. Thank you

@Michael Dumler thanks for the advice. I'll see if I can find someone who uses HMLs. All the people I've met who do BRRRRs in my area tend to use banks, but I'm sure there's someone out there using hard money.

What questions do you guys ask to make sure the hard money lender you're talking to is the real deal and someone you want on your team long term? I'm not talking about questions about reserves, credit requirements, and LTV requirements necessarily. What I'm wondering is what questions should I ask them to make sure they're trustworthy and legit? I've been talking to a lot of them on the phone, but since I'm a beginner, I don't have a lot to base my judgement off of. Thanks!

I'm a beginner, so forgive my naivety. Let's say I want a house for cheap, so I decide to look for pre-foreclosures. Can I get a list of distressed properties from the court house? I'd like to know how one does that without using paid websites. Second, after I acquire my (hopefully free) list of pre-foreclosures, how do I get into contact with the owners? Knock on the doors of some probably, but what about absentee owners? Last question. Do you have any good resources for beginners interested in learning the conversations we should be having with the distressed owners to make the purchase? 

Thanks @Wes Evans

I appreciate the advice. I'll start learning the numbers that go into Brrrr calculations. Also, I've been recommended J. Scott's book before. I'll check it out.

@Steven Silbert Thanks for the advice! Just curious. This is your first BRRRR deal correct?

P.S. I realize in some instances, you'll probably want a contractor to give you estimates on repair costs before offering. But how can you practice and gain confidence in your ability to run the numbers on BRRRRs?

Hey BP,

I hear a lot of good investors talk about analyzing deals everyday because it'll help them be prepared to spot good deals and jump on them when they see them. My question is how can I habitually practice running numbers on BRRRRs? How do people make offers on BRRRRs fast and accurately? Is it possible to run deals quickly from home? Thank you!

Thanks Alex. I'll reach out to him 

@Alex Roter

Any advice on finding investor friendly mortgage brokers? I'd love to find an experienced broker, who I can work with long term. I think having a broker familiar with BRRRR would help me out a ton. Do you guys have experience with this? If so how'd you find yours?