All Forum Posts by: Camillia W.

Quick question....I have heard of requesting costs to be paid at the close of the deal is this at all true? Second, I know most will think it ridiculous but; Is it plausible to begin without money, borrow from a HML and agree to split the profits at end? Just to get skin in the deal and feet in the water?

Since I do not have my own money to fund the deal and not so great credit. I was just thinking fix and flip to borrow from HML and be able to pay back the loan on time. Ideally I would like to hold and rent if it were possible to switch exit strategies at the end if I qualified at that point.

@Bart hedgcock Thanks you....How do I help the seller to appreciate her loss of profit in what she spent initially? I am sure the depreciation is what I would have to inform her about. What do you think?

Wow! I really thought it was worth more...it's weird because she purchased for 36k back in 1989. Now to accept 16 less than what she paid 29 years later, is that a normal scenario in REI?

 No one currently lives there.  Mom is getting old and sons are not responsible enough to handle property.  She purchased the property for 36k back in 89'

 So Ryan,

from your experience in that area: would you say that pumping about 35-40k into a property that is half decent near the El, My ARV should be above 80k correct? somewhere closer to 100-120k?

This is all great thanks!

Thank you for this...so these are comps for more or so "as is" properties no? Wont the ARV be from newly renovated similiar properties?

That makes more sense.   Is it realistic to pursue Hard Money and change exit strategies at the end to switch to a more conventional loan? Or is this something not likely for a newbie with not so great credit? What would you do in my case?  I am sure I can get the house for under 50k with about 35k for repairs 

 3 bd 1bath in 19139....61st and Arch