All Forum Posts by: Chuck Redman

thank you Karen

Brandon Turner I look forward to the blog post as I have been curious about this for some time now

@Kyle Weimer. What do you consider the right market conditions and city?

I am currently working on getting my RE license as I have found in my short time that lack of valuable MLS data is imperative and relying on agents to get that info for you is not working for me.

@Joel Owens. That is unreal!, I have not heard of this happening. I wonder if it is going on in Texas where I live. Do you see this as an opportunity for investors if you could locate the people in these situations?

@Glenn Espinosa. I do have an investor friendly attorney in place that has many years of experience that I am going to use. He is able to draft all documents and perform the title / escrow aspects as he is affiliated with American Title

@Gene Hacker. Title insurance and fire/hazard ins is a must protection for all involved.

@Bill Gulley. Thank you for your explanation. I have learned so much on BP from seasoned investors willing to help! I am soooo glad I did not waste my $ on a "guru" program. I found BP doing a search for a program looking for feedback on it.

@Karen M. The guarantee I was referring to would be for the private lender...guaranteeing their investment

Thank ya'll for confirming what I thought.

I am looking at foreclosures to purchase, rehab and flip. I am looking at this route to build my cash flow with the goal of being able to hold at least 2 by year end as rentals. I want to have a portfolio that creates a steady stream of income.

The private money I am after would be used to purchase and rehab with the investor getting a reasonable return.

Is the loan guaranteed simply by a promissory note? Does the note list the property as collateral effectively placing a first lien on the property until repaid?

I am considering using this to purchase property to rehab and sell. This looks like how the lender's money is secured.

Your input is greatly appreciated