All Forum Posts by: Alexandra Scardo

This newly renovated 1056sqft house will have a brand new HVAC installed once under contract! It is listed on the mls at a retail price, $150k. I’m willing to work a little on price with an investor that’s willing to close fairly quickly. I prefer you go through my realtor. Message me for the link.

I’m interested to hear how others decide what terms to offer on an owner financing deal. Specifically I am wanting to talk to sellers and present them with terms I am willing to pay for their property. I understand that it has to be different for each deal/type of property but I am not sure where to start with deciding on a rate or term or down payment. Any advice would be greatly appreciated! Thanks!

 Thank you so much for taking the time to answer this question!

Next week I have a tentative closing date on my first flip! I have a hard money lender and I’m using private funds from family as the cash to close. How do I actually move that money around? Should I have my private lender transfer money directly into my own account? Should the money go from the private lender directly to the closing agent? I do know that the hard money lender will not be sourcing the funds. Thanks everyone.

@Account Closed Thanks so much for taking the time to explain all of that! It was very easy to understand and helps me from way over paying!!

I have a person interested in lending me money for a flip but she’s never lended money and I have never borrowed from a private lender. I know this is basics but I really don’t know.
So let’s say I borrow $10,000 for 5 months at 10% . Just one payment at the end of the 5 months. How much am I paying her? Is it 11k or 15k? Does the 10% interest accrue monthly?  Thank you so much for helping me learn.

I have a meeting set up with a friend of a friend who is interested in lending me some money for cash to close on my first quick fix and flip. I have done one fix and hold and one live-in longer term fix and flip. I have a great deal with a good amount of room for learning (making mistakes) but I am not sure what to offer her. I could use some advice. I don't think she wants to hold any equity. Details of deal below:

Purchase $53k, Rehab 24K, ARV 130K. Hard money loan with estimated $12k cash to close. Thanks!

@Nathan Gesner Yes, partnering with someone on the internet sounds like a very risky idea! The issue is finding the cash to close. I will work on that and perhaps work on finding a mentor another time.

I meant for location to be in the post. Property is in Kingsport, TN. I just updated the post🙂.

I need some advice. I have a single-family home under contract. It should be a great fix and flip. I have the purchase contract, the contractor, real estate agent, and I am submitting to hard money lender tomorrow. I know I will not have enough cash to close so my plan is to find a more experienced investor who would like to bring the cash to close in exchange for me doing all the work. How do you recommend I find someone more experienced? And what do I say to them?