All Forum Posts by: Bailey Mason

Hello BP! I just had an accepted offer on my first duplex yesterday.  Looking for inspector recommendations in the Indianapolis area.  Also, any labor/contractor recommendations greatly appreciated! Actually any advice at all greatly appreciated. Thank you!

Hello BP! 

I'm ready to submit an offer on my first investment property and would really appreciate some second opinions! The deal is 2 duplexes next to each other asking 58900 each, 4 units total.  2 are leased at 525 and 550/month currently. We're also considering owner occupancy. Any thoughts are greatly appreciated! Thanks!

Hello BP! 

I'm ready to submit an offer on my first investment property and would really appreciate some second opinions! The deal is 2 duplexes next to each other asking 58900 each, 4 units total.  2 are leased at 525 and 550/month currently. We're also considering owner occupancy. Any thoughts are greatly appreciated! Thanks!

Thanks for the input! 

Sure, capital is always a good thing. What ways could that go? For example I provide down payment and use a lender for the rest? What percentages are typically used to split profits? How would I be able to ensure my partner would hold up there end if they don't have anything on the line? Thanks. 

Hello!
I'm looking to start in REI, but I'd like a partner/mentor to help me be successful. What can a new investor such as myself have to interest a partner/mentor to share a deal? Thanks!

Thanks for the detailed response!

I do have some money to bring to the table, but not nearly enough. I have a 770 credit score to demonstrate financial responsibility. My flipping education is limited; I joined INREIA last month and attended my first meeting, I'm pouring through all the recommended REI books, listen to endless podcasts, and of course read on BP daily. Aside from this, that's it, no first hand experience.

You mentioned finding an experienced flipper, what benefit could I bring to the deal for them? Qualifying for a conventional loan?

If a private lender is worried about the possibility of a deal going south, is the only reassurance that i can give is they'll eventually get their money through slow payments?

Thanks for the insight!

Hello BP!

I'm new to investing, and I'm in the learning stage. Without any previous flips or rentals to show, how can I persuade a PML to lend to me? What are their incentives/safety nets?Thanks for any and all advice!