All Forum Posts by: Behrooz K.

@Jesse T. so far solid. Been getting 11% annualized since I signed up paid out quarterly. 

Wow! You didn't use any stain?

I ran across a short sale. It reads the short sale is approved at $200k. Non-negotiable.

My understanding of the short sale process was that it is approved to a specific buyer? Does this mean someone else was trying to get the deal and it fell through and now they're trying to reassign it to another buyer?

Hi Antonio, this question doesn't belong in this forum category. 

There are many legitimate hard money lenders. Check out the bp hardmoney directory and also listen to podcast number 9 featuring Ann Bellamy who is a hardmoney lender I think from your area. 

Hi @Gina C. My partner and I were trying to purchase an REO working with another HML. But they were not able to provide us a POF to be able to see the property, let alone bid for it. The listing agent wouldn't show us the property without POF. Do you provide POF for REO and how long does it take for you to approve deals and underwrite the loan as these properties move fast in NJ?

I agree with @Account Closed This is definitely not too good to be true. Look at the bottom line on the example they give in their program overview. You're left with just 14k profit after 3-6 months of dealing with contractors, and that's assuming everything goes as planned. If you had done this with hard money lenders you would have kept the whole 28k of profits, which would make sense. 

I guess this is good if you don't have the %20 to put down, which is what most hard money lenders require. Another plus is on page 6 they mention : "We can handle all wire transfers of purchase funds to the clerk of court, trustee, or escrow company. We also generate a proof of funds for REO/ short sale purchases." 

This is something hard money lenders don't do, at least not the ones I've spoken to. Therefore, this will open up a lot of potential REO deals which would otherwise not be an option if you don't have the funds.

In their sign up form, they do ask about your flipping experience. So not sure if they take complete beginners.  

I got my contractor to join BP not too long ago : @Iraj Safakamal. You can reach out to him and see if he's good for your team.

it would be nice if you put street address

@Sean Richway working with different subcontractors for different parts of the rehab project means payment becoming due at different times, i.e. some upfront, some in a month, some in two months, etc. Is it possible to get rehab payments when it's due instead of all upfront to save on interest costs? 

@Wayne Brooks  Thank you for you response. 

Excuse my ignorance. Where would get this information from?