All Forum Posts by: Chance Housos

The truth is you need to work on finding both at the same time. If you hunt for a deal and network you butt off it will happen. Once you find a deal pitch it to the people you have been talking to. You may have to give up more of the pie to get the money but once you get a good track record you will have more money coming to you.

I would suggest partnering with someone who is actively doing what you want to do in your market. If you want someone who is experienced to give you their time then you need to bring something to the table. Most likely that is going to be money. Why not buy a deal with them using hard money( or cash if you have it) and pay all cost, and give them a portion of the profit. 

This is how I help new people in my market. Ill take them to my HM lender so we get the best rates, bring in my contractors, and show them the entire process. We both make money and they get to learn and earn.

seconds and surplus

You can do this I just recommend starting small. I would stay away from the 1M houses until you have done a few and gain some experience. Why not go for a 150K house a make less money but learn. Then start to level up. This is the exact approach we took and have been very successful. A hard money loan on a million is 10K a month. A delayed project for any reason could sink you if you cant withstand the storm.

Just my opinion.

Hard Money?

What are your numbers?

Don't buy this deal just go find a better deal. If you have to sharpen your pencil to make the deal work then it doesn't work and you will get bit. There are plenty deals out there if you work for it.

Anything under 10K I will assign. There is not much difference for me other then a little cost. Most buyers don't care until its over 10K then they get upset because you are making money. The more important thing is to find a deal. Get that first then ask what route you should go. No need to waist time worrying about the small stuff.

Scott Horne is an attorney and has a title company that understands owner finance.

Does anyone here do work in Sherman Tx, I a deal up there and wouldn't mind asking a few questions. Its a light rehab and would make a great flip or rental.

I have an opportunity in Sherman if you are interested. Let me know.