All Forum Posts by: CJ Peiffer

@Kyle Watson never found anyone willing to take on the project so I had to back out of the deal. If you send me a personal message (if that’s even possible on here) I can send you the contact info for the realtor of the property and maybe you two can figure out a deal for the house. I’m assuming it’ll be back on market pretty soon.

Hello BP Members!

I currently have a deal in Abilene TX under contract for an extremely competitive price. I originally wanted to assign the contract with an investor that purchases houses for cash and flips them for a very good profit. I currently have the contract for $207k and comps in the area are looking around $400k - $420k ARV. I estimated that there would need to be $45k for repairs, plus some foundation issues that I was quoted would be $20k to repair. My investor has backed out of this deal because he's looking to slow down and doesn't want to take on a deal so far from where he normally does flips. This leaves me with a really good opportunity that I don't have the cash funds to support anymore.

What is the best way that you have found to find people to support your deals?  In this case, I am currently looking for a flipper that would be interested in taking this contract for an assignment as I am more interest in the learning process at this point and not ready to take on a flip just yet.  So I'm curious what you guys would recommend?

Thank you in advance!

@Frank Patalano oh okay, that clears that up.  Yes, I am part of a couple local real estate groups.

@Frank Patalano Thank you for your feedback!

I am new to the biggerpockets forums and also the website, even though I've been listening to the podcast for years. So, I'm not exactly sure what you mean by REIA meetings? Can you fill me in on this so I can start making the proper steps toward funding?

@Frank Patalano For is it is bad credit. We have a decent savings account built up, but I have yet to find someone that will partner up on a deal or find a hard money lender that will accept us with bad credit.

So I’ve been going through tons of forums and articles and tons of YouTube videos from BiggerPockets members and investors but I’d like to see if anyone local can help me with some good first steps toward becoming a successful rental owner, alongside doing fix and flips and possibly fix and holds.

Due to some setback about a year and a half ago my wife and I were tossed into a rat race of bad credit and constant phone calls to pay bills without any idea how to pay them. About 6 months ago I was blessed with an opportunity to get started as a self employed truck driver, making roughly 6k-10k per month depending how hard I work. We have been able to save up a decent savings account, while also taming the creditors with some minor payments here and there, but we are eagerly looking for our first deal as real estate investors.

I’ve heard tons about OPM and investing using little to no money, but most of that is also helped by the fact that most people have good credit, just no savings account to back their good credit.

We are on the opposite side of the play field and I’d like to see if any of the BiggerPockets family could help me with some steps to begin our real estate investing career, even though we have bad credit (for now).

Thank you in advance!