All Forum Posts by: Ben Hoekstra

So I went to fill out stuff to see if I applied for a mortgage if I would get approval and how much. I was told I did, and they wanted to get me an approval letter. However the link In the email was asking me to verify my credentials and one of the things is asking for my bank name and user name and password? Is this normal? Obviously I stopped and am raising suspicions and don’t want to link anyone to my bank account.

Thanks for anyone’s time who can help with this.

@Samuel Fletcher Hardy yeah I mean I wanted to just totally find the flip and rehab cost but he said the only way he would do it was with skin in the game. So he puts up labor and material I buy. I mean I trust the guy and would like to work with him. Is this a pretty common practice? And if so what kinda contracts would I have to get drawn up? Any ideas?

Hey I’m kinda new to this app but I also am trying to read as much and learn as much as I can trying to get in to this game sounds like you know your stuff and things are working out for you.

Risking sounding stupid could you answer what STRs means?

So what I’m thinking about doing is putting up the money for a flip my self. Then working with a contractor friend of mine who would then put up labor and materials and after we would split the profits off the percentage of investment we have at the time.

I’m wondering if this is a good idea?

What kind of risks could arise?

What sorts of things would I need to be doing to protect things?

I feel as though this could be a lucrative option for all parties involved but I’m not sure if this is something that people do a lot of it’s safe and makes sense to do? Or if it would be better for me to take on the whole cost and profit my self with all the risk to control more of the deal. Any advice people could give me is much appreciated.