All Forum Posts by: Alfonzo Roberts

Hello All! So I will be finding a property for my first rehab in April. I plan to use a Hard Money lender initially. Everything I am reading is saying find property first, finance, rehab..... Can someone please help to put my mind at ease in relations to financing via a Hard Money Lender? I am slightly concerned that on April 16th I find the perfect place and then have find a Hard Money lender, most of the sites make it seem so easy. Should I get approved for a certain amount PRIOR to searching for a place? Or remain steady and focused and find the place first and than ask for financing? The concern is I find the place, seek financing and loose the opportunity in the interim. Thanks!

Hello ALL! My name is Alfonzo (AL) and I am a new LLC member in the Philadelphia/South Jersey Region (Palmyra, NJ)! I'm totally new to the business and have been inspired for years. I've finally begun the process (Business plan, created LLC, Registered with state and business account). During my day job, which prevents me from actively starting a project until April 15th, I ran across a potential rehab lead which is OFF THE MARKET. My concern is for my first project I planned to purchase a rehab of no more than $50k with a rehab budget no greater than $30k; this potential i'm guessing is $150k purchase and $40k rehab with a ARV of $290k - $300k. Am I totally wrong for considering job?