All Forum Posts by: Clayton Danly

Congratulations again Sunday! Awesome to see the detail from start to finish and how you overcame the challenges with budget and city inspection. This is just the beginning!! 

Can you attach the before and after rehab pictures?  

Great idea @Olena M.! I'm interested as well. 

Great job @Will Coleman !! Always inspiring to see a success story on BP. Mind if I ask which Dallas GC you used for this project? I really like the work you did with the kitchen. 

Great advice from @Upen Patel.. 0% down sounds fishy to begin with. 

@Tieba Bropleh if you need to close this property fast give me a shout we'd be happy to help sort this out. We finance similar scenarios all the time. 

Gabriel - Some lenders accept Gift letters from friends, family, or colleagues. Would this be an option for your down payment?

You could also do a cash-out/refi with one of your previous flips. Maybe you could use the cash to pay the down payment for your new investment. 

Best of luck finding a solution! The BP community is a great place to start. 

@Elias Guevara 

welcome to BP Elias! I'm also looking to flip locally in Los Angeles. Originally from Chicago and noticed you're looking to invest there as well! Shoot me a PM I'd be happy to talk about both markets and see how we can work together in the future. 

@Account Closed - Sounds like a great deal as construction practicals are certainly a weak point of mine. Shot you a PM as well! 

Hey BP!

I'm Clay, and for the past 5 months I've been reading/listening to Bigger Pockets and working for a private money lender. In 2018 I want to become more active in the community and take the necessary steps to invest in a fix & flip property myself. 

Any Austin or Los Angeles investors looking to grow their network? Also, how many investors have taught themselves how to rehab the flip? What would be your primary tip or warning when teaching yourself how to DIY projects? 

Hey Eric congratulations on getting into real estate investment! 

You're right, there are some shady lenders out there. If you're worried about credibility, best place to find quality lenders is the list of Hard Money Lenders under the network tab on Bigger Pockets. There are 27 featured lenders, all specializing in a different niche of the industry. If you find a lender through another source, make sure the company has an NMLS ID. 

While you should be able to get a conventional loan considering your credit and steady jobs, you may run into problems because of your low experience level. Hard Money Lenders could be worth looking into as they require far less paperwork to qualify you for a real estate investment loan.