All Forum Posts by: Susan Parker

I'm looking for better terms using private money to fund my flips, and also to get into rental properties, SFH and duplex. For the rentals I would want a 12 month or more loan so I can season and then refinance with a conventional lender. I am a licensed agent in OH and thus far I have purchased the properties thru my LLC. As I mentioned, I have done nine flips since May of 2016, all in Lake & Geauga counties surrounding Cleveland. I only work in A/B areas with good school districts. Contact me if you are looking to put your money to work and we can go from there. Thank you.

Hi Laura,

welcome to BP, it is an AWESOME site with really terrific people willing to help out!  I'm 54, started in RE at 52 and have done six flips.  This year i'm planning to add a few rentals and do more flips.  I'm about 2 hours west of Pittsburgh and get out there about one a month to see my niece who is a student at Univ of Pitt.  I'm also working on my RE license, but you definitely dont need it to get started.  Read everything you can here, listen to the podcasts, and ask questions.  You can do this!!!  good luck!

Ray,

I'm interested in learning more.  I think we may have talked some time ago (last year or before), but I was just starting out and not ready to jump in.  Please let me know when we could talk.  Thanks!  

Susan

[email protected]

Welcome!!!!  I wish I was your age when I found RE investing!  oh well, it is so much fun and never boring!  good luck to you!

Just watched a webinar on Wholesale Reformation with John Cochran and Jeff Watson.  Anyone know anything about it, was it worthwhile?   

Thanks @Chris Martin,  I had the home inspected prior to my purchase and am fixing all of those issues, but did not have LBP or asbestos testing done.  We are encapsulating the front porch which I would bet was LBP.  House was built in 1843!

@Jay Hinrichs    

Thank you for the information.  I do quality rehabs and have my county/city permits and inspections so I will be okay there, but it is a century home so some things just are what they are (like shorter rises and runs on stairs, etc)  I will reach out to the lender directly, wouldnt have thought to do that so thanks!!  

This is my fourth flip in the last year and the first time a buyer with USDA financing has presented. My other buyers were conventional or cash. I havent had a FHA or VA yet, but I've heard they can be picky about inspections and codes. This is a century home that I've rehabbed. Anyone with experience with USDA? please share any advice as it will be greatly appreciated. I havent listed with a realtor, I always try to sell my flips first FSBO (and I've done that 3 out of my 4 flips). She is likewise not represented by a buyer agent (she had one, but the contract recently expired and she didn't re-sign with that agent. Open to your thoughts! Thank you BP community!

@Chris Sellers

Great Lakes REIA has an Akron meeting monthly, there are also some free groups on Meetup for real estate investors, its a good way to network & meet others who are actively investing.

I also think RE meetups are a start. Have you checked out your local REIA chapter? Up here our GLREIA chapter is very active and I've met several private money lenders, as well as key bank personnel. I think funding depends on what type of RE transaction it is, and what your goals and financial situation are. I've used hard money successfully in flips. If you factor in the cost, and its still a good deal, well then its a good deal. I now use a private lender, yes I pay points, but I have a ready supply of fairly quick cash and another experienced set of eyes looking at my deals since I'm still a rookie. He makes $$, I make $$ so it's all good!