All Forum Posts by: Alicia Waldman

@Paul Timmins

Thanks for commenting. I hit all of the links you listed above before I even signed up for BP. Once I started reading, I just couldn't stop! The podcasts are awesome as well.

Thanks again! There's a wealth of knowledge here.

@Jay O. , I'm definitely loving this site. What I've learned in the past few days is amazing!

I do have more questions for @Don Konipol , or anyone who has the answer. Do lenders give the first rehab draw at closing, or will I have to handle costs upfront? Also, I've read on several lender sites that the checks would be cut to both myself and the contractor. How would I be able to deposit such a check if it's written to both of us?

@Don Konipol , thank you so very much for your answer! The most important things to me as a borrower are:

1. long term (36-60 months) interest only terms for rentals that include rehab funds

2. based on ARV: (credit is not an issue for me, but I'm interested in working class neighborhoods with very low cost properties for sale that will need work)

3. speed to close

4. low minimum borrowing amount ( I don't want to borrow more than $40K to start)

5. newbie friendly

6. I will shop for the best down payments and best interest rates

I really appreciate your comments regarding direct and indirect lenders and mortgage brokers. I was not aware of the differences and your insight is extremely helpful. I've found to lenders that meet my criteria, but I need to take your information regarding the types of lenders available and ask more questions.

Thanks again!

@J. Martin : Thanks so much. Everyone has been wonderful and extremely helpful. So, any tips for a newbie "buy and hold" investor? What was your first experience like?

@Ramon Jenkins : Thanks! I've read several of your posts already and appreciate your insights. I get up to Wisconsin with my day job about 3-4 times a year. Beautiful part of the country, but "cold" is on whole new level there!

@J. Martin : Thanks so much. Everyone has been wonderful and extremely helpful. So, any tips for a newbie "buy and hold" investor? What was your first experience like?

Hi @James Wise! They are Lima One Capital and Bridgewell Capital. I'm interested in NC and GA. I don't know what other states they cover.

Thanks @Karen Margrave I appreciate you sending the SOS for me.

Hello All,

I'm new to BP and am using this site as source to educate myself about REI. My strategy is to rehab, buy and hold. I've found a few companies that offer 5 year interest only rental property programs. And I've learned a lot in the forums about what these lenders will expect from me especially since I'm new. However, I can't find concise information on what I should expect from them. Is there a basic set of questions I should ask them? Are there key words that I should listen out for? What is the best way for me to vet a reputable firm? Thanks!

This post is perfect. I'm a newbie and plan to work full-time for another 10 years, so the comments given here are very helpful.

@Brie Schmidt : the information you posted is fabulous as duplexes are on my radar. I do believe I need to borrow that open house idea from you!

@David Krulac : I too plan to standardize the look of my homes as well. Not only do you great deals buying it items in bulk, but it's a great organic marketing strategy.

@Azeez K. : Hello--and thanks! My husband is the editor of Terry's alumni magazine, so good job on picking a stellar MBA program! I've found some HM loans that have buy and hold programs. But at the price point I want to stay at, it looks like I could do better overall by going the bank route. I'm on hold right now because we're closing on a new house in Cumming at the end of this month. That means no credit pulls and that our cash reserves are going towards my rehabbing the new build ( what builders call upgrades are overpriced and just....ugly). Unless some amazing financing showed up, I'm probably about 6-12 months out from making my first buy. Anyway, please do send what information you have, and thank you for reaching out.

FYI--the Vet school is building a new building right off of College Station Rd. You may want to check for houses in the Barnett Shoals/Whitehall Rd. area. We're keeping our house in Athens for this reason.