All Forum Posts by: Brad Sparks

...specifically in the Knoxville area but also in general do you draw up building plans? Do you use an architect or draftsman? 

My property has fire damage so all the walls were not salvageable. I've rebuilt the foundation and I'm thinking if I should keep the original layout or make it more functional.

What is @Brandon Turner @david green @Mindy Jensen doing in this situation?

@Trey Green

@Trey Green There are no right and wrong ways in this crisis. Good that a place to discuss and brain storm.

For Hard/Private money people: Will you or have you made changes in lending money for the next 1-3 months?

Investors: What your experience finding capital? Who's telling you yes/no and why?

Wells Fargo told me that they are not dropping rates and are slowing their lending.

If you use their deposit for rent and down the road (assuming things get back to "normal") they decide to move, what incentive would they have to clean or repair the property?

@Wendy Home What did you do in the end?

Nice find. Good job capitalizing on it.

@Tom S. Thanks for your reply. Looks like this will be a learning experience for me. I'll go through the flip and see where I can save money on the construction side.

Purchased a property for $27k. Estimated Rehab is $80k. ARV $120-135k. I've put in around $15k out of pocket. I have poor credit (600) and high DTI but where there's a will there's a way. The people around me (family, friends, coworkers) either don't have the means or they think real estate in general is too risky. Worse case I pay down my debt, raise my score, and then go for a HML in 6-9 months. Any thoughts on how to get funding faster?

Thanks for sharing your deal. Where did you find your agent? What would your cash be if all four units were rented?