All Forum Posts by: Bill J Fay

Very informative topic. Overall, I believe this is a positive, especially with home values in CA. Many flipped homes are bought by 1st time homebuyers that have no experience with construction. A paper trail allowing them to see what work was done while also seeing who did the work will deliver more polished products and accountability from all parties. My hope is that building departments will act quicker in issuing permits, as this change will increase their workload. 

As others have suggested, C4K is easiest. Staggering the compensation is a great way to build urgency. $10k if you move out in 7 days, $7k if you move out in 2 weeks, etc.

Consult with local attorney always.

Check out BP's tab: BiggerPockets - Find a Hard Money Lender

BiggerPockets - Find a Hard Money Lender

I personally do not. Have you had a credit pulled in the last few months? Most lenders will let you use reports up to a certain date.

Check out BP's tab:
Find a Hard Money Lender - Best Hard Money Lenders Near Me (biggerpockets.com)

Hard to tell from the photo posted. Would need dimensions and more angles for an input. Closing that door would open up more possibilities. Could you fit shower on back wall, toilet where door is, then sink closest to you? 

Welcome! BP is a great place to start. Start attending local real estate meet ups in your market. You are going to want to talk to as many people in your market as possible. Create a team of agents, contractors, and lenders. I would recommend using an Agent that also flips. They will be a great resource to guide you in the right direction.

As long as you qualify for the loan independently of the funds used as the GAP funding, most lenders shouldn't have an issue.

Consistently show up to the same networking meet ups and events. This will open up doors and expose you to different real estate transactions that go on in your market. BP is a great place to start as well.

Start attending as many REI meet ups as possible. Go on to Meet up.com and search real estate. They hold 1-3 each week