All Forum Posts by: Christopher Blanco

Do you have a property in the Mayfield area? Send me a PM and tell me about it. I am interested in the area. 

@Lewis Anderson Email me at [email protected]. I am interested. 

As a private lender, I wouldn't touch that deal. High price point is one thing, unless you have 10+ deals under your belt and a couple at that price range. Secondly you are pretty close to 75% ARV right there, so that is going to limit the rehab I would fund as well.

Schedule a call with me today!

Schedule a call to discuss your funding needs with me today!

@Josiah Collins

For my lender, we would require the source of the money to be a partner on the deal. My advice to you is to create an LLC with the relative as a capital partner in the LLC. Not only will that satisfy most lenders, its sound business practice in case things go south.

Keep your own cash out of YOUR deals as much as possible, I learned this the hard way. 

@Maria Mondino

My first book on flipping is "The Book on Flipping Houses" by J. Scott. Also buy his companion book on estimating rehab costs. 

Hi @Brendan Henry-Lambert

For us, draws are up to you and your contractor. You should work with a lender who works with your business model and rehab schedule. Some times a rehab can be done in a single draw, sometimes 3 or 4 are needed. For my lender the draws are set up initially, then you call when you are ready for a draw, we send an inspector out that compares your SOW and the work done. If everything meets the SOW the money is released. Feel free to reach out if you want some more detail. 

I recently was laid off from my W-2 job. I am considering using this as a spring board to launch my RE career into full time work.  What do you self employed guys do for health coverage? I looked at HealthCare.gov but was underwhelmed by their plans. I also looked at United who had much better prices, but hard to compare coverages. Any suggestions?