All Forum Posts by: Ahmad Drumgo

Welcome to BP. Your foundation as an educational professional will serve you well in REI . My home town is Baton Rouge La. I reside in Houston Tx. There are so many way to build a future in real estate. Just do it! If I can help in any way PM me.

Steven, Thanks for replying I'll reach out on tomorrow To discuss the details.

We are Looking for a private Lender for a rehab and a refi in the Baton Rouge LA area. Very low loan to value ratio. 1st lien position and very low risk on the deal. Owned free and clear and ready to complete.

Hi Jasmine,

It would be my pleasure to help you on this project or any in the furture. 

That is a good question. It depends. But you should plan for around 100$ per square ft.

It is in my opinion that there has been some misrepresented information. It's one thing to wholesale a house (I get that). But it's another thing to pull of of mls and market it as a deal. I'm a licensed realtor now and I have the MLS through my personal agent site IDX integration. In communication with the individual this person made no mention of being and agent, but on a closer look there seems to be a few properties that where just pulled from the mls and represented as properties marketed by the individuals company. Seems fishy?

We are only as good as our reputation. This is a small community of good honest hard working people that operate with integrity .( For the most part ) What do you do if you smell a rat? How do you handle a potential fraudulent actor?

Thank you all for you thoughts. I"ll update you to the outcome.

The deal is a family flip. (My mother owns and I manage ) We own a house in Baton Rouge LA. free and clear. ARV(120,000.00) Damaged in a Hurricane a few years back, we had no insurance in place at the time. I live here in Houston My mother lives in Newark NJ . The house had water damage and roof damage. We paid to repair it out of pocket got it stable.

We plan to keep the house. No regular bank will lend on it in its current condition.

I'm now learning more about creative investments and I'm a Texas Realtor 4 months now ( Investor friendly realtor)

To free up our equity I would buy her out , rehab and flip to myself.( Hard money)

Pay her 30k

30k in rehab costs
+ 5k in holding cost
65k
100k selling price 30yr
Leaving 35k in equity back to the family.

How can I flip my own property to myself. Typical distressed property tons of equity. Regular bank won't finance it.