All Forum Posts by: Jeremy I.

1. I called the county where my auctions are held and they pointed me to the company they hire to collect this information. Then I went to them and purchased a list which included potential equity. 2. Don't know this yet

Thank you for the feedback.  Is there any literature out there on this subject?  I need to prepare a response and I'm compromised.

Do you have a contact number or address?

BP,

I found a hard money lender to fund my first deal, and there was a problem transferring the deed at closing.  Now there is a problem funding the project.  I bought from a wholesaler and now the wholesaler is in breach of contract with the original seller.

Is there anybody willing to be a private money lender to me?

I am more than willing to share the details of the deal to somebody who is interested.  I am located in Houston and time is of the essence.  Let me know if I need to structure my request differently.  Thanks in advance!

Does anybody have recommendations for a COA and lawyer in the Houston area?

I'm new to real estate investing and located in Houston. I am interested, although I'm going through a bit of a nightmare situation right now (TMI I'm sure...)

UPDATE:  I just received a call from both lender and wholesaler explaining what is going on as to why the deal isn't funded.  It seems like there is real risk for the deal to not go through.  Does anybody have experience with finding funding at the last minute before (or in my case after) closing???

BP,

I've decided to take the community through work on my first project in hopes of gaining wisdom from folks on BP.  Here is the link to my previous post:

https://www.biggerpockets.com/forums/67/topics/297...

See timeline below:

Day: Close - 2 days

Selected contractor

Day: Close

+Signed documents for closing (mobile closing)

+Received invoice from contractor and paid 1/3 of invoice for mobilization

Day: Today

+Funding not completed due to a miscommunication between lender, title and wholesaler

+Keys not provided, thus contractor was not able to start working

+Contractors diverted to another rental property to perform maintenance activity (pure dumb luck this happened at the same time)

Questions/feedback

Well, given rehab hasn't started, this day has been a big let down.  Is there anything I could have done differently?  Should I have waited until I secured the keys before officially paying for the contractor?  I did this early because I wanted to make sure I secured the contractor.  Should I consider paying the contractor for their down time today (technically I'm at fault for them not working today given I committed to the home being available today)?

Any thoughts or feedback will be greatly appreciated.

I'm moving to College station in August to pursue a PhD and I looked into buying a rental property there. From what I've seen, several of the 4 bedroom college town homes provide tremendous cash flow. Better yet, there seems to be little vacancy in these because of the connection to TAMU.

Only thing needed for my pre-approval was verifiable funds, good credit and a job. Writing the loan required the independent estimate and an appraisal. The lender also went out to look at the property as well. Connect with your local REI club, that's how I met my HML. Keep in mind, this may be the blind leading the blind, but I did successfully close a couple of days ago.