All Forum Posts by: Adrian Hernandez

nice! Congrats and welcome! Im also from the DFW are, im a contractor, if you need any help in that area, im here.

@Matt Motil thats a great idea. Thats what ill be doing next week

 Irving tx

welcome! Im pretty new to this myself, and im on the same boat. Lol

I think  i found a new hobby to replace facebook browsing. Lol. I'll be in the forums. Thank you guys.

@Nnabuenyi Anigbogu cool, im going to start looking into that. I just need a type of loan to get this done withing two months. Hopefully sell by January, pay everything back, and have cash to pay off debt, fix credit, start new flip, and get going.

@Account Closed yes they are ok with selling to me. The only bad thing is that my credit is so bad. I don't think i could buy. Is there a way that i could have some sort of note showing they have given me full rights to everything, and use that as "ownership?"

@Matt Motil i have thought about that, just havent worked on that idea. My mom doesn't live in the house anymore, but i see her every day. Both my parents have horrible credit(kind of why I thought it wasn't a big deal a couple years ago lol) and I'm not sure if they would qualify for any bank loan. I will look into that.

@Nnabuenyi Anigbogu i would need to look for some hard money lenders. This would be my first flip, and I really don't want to screw it up since it seems like a really good deal. 

@Account Closed my dad is still living here, and I didn't think of that, being occupied could be an issue. You're right. Do you think that is a huge issue?

How are things going?

My parents are selling the house through me(real estate agent and contractor). 

They agreed to let me flip their house. 

They owe 55k and the ARV is close to or above 175k. Repairs are at most 50k, since the last remodel was over 10 years ago. I have worked all numbers a couple of times.

I really only need a small 20-50k loan to fix and sell. I have 10k cash, but i know material alone will make me go broke. 

Just looking to see if anyone out there is capable and willing to make a little money off a loan. Won't be able to split profit, but could return interest on loan. 

I figure, it would take me a few months to save another 10k, but we really want this now.