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All Forum Posts by: Bianca Schutt

Bianca Schutt has started 1 posts and replied 3 times.

Post: New to Investing/ Loans?

Bianca SchuttPosted
  • Posts 3
  • Votes 1
Quote from @Ko Kashiwagi:

Hi Bianca,

Getting a construction loan is pretty difficult without experience or assets to collateralize. If you are borrowing money, the lender would usually create a property mortgage document and record a lien on your property/land.


 Hi Ko, Thank you! This helps a lot with my direction. 

Post: New to Investing/ Loans?

Bianca SchuttPosted
  • Posts 3
  • Votes 1
Quote from @Sophia Buesing:

Hey Bianca! Welcome to the forum! Construction loans are a bit more complex and hard to get. I would recommend starting with fix and flips or BRRRRs then moving into ground up. 


Thank you! I appreciate the advice. It seems that is also the consensus with everyone I asked. So I am now looking for a BRRRR. Thank you!

Post: New to Investing/ Loans?

Bianca SchuttPosted
  • Posts 3
  • Votes 1

Hello! I am new to real estate investing but I watched my parent invest in a couple of properties in the past. I am looking at lots of land to build on and sell. I found a couple in my price range, but I don't know if I should get a loan or maybe borrow money from my parents. If I borrow money from someone directly what is the proper way of doing that? It is a lot of money so I imagine there should be a contract of some sort. 

Any help would be appreciated! Thank you!