All Forum Posts by: Daniel Beaston

@Tim G. Thanks for the reply, yeah it was something that dawned on me since my family and I can do all of the things we would want or need done related to construction/rehabbing. I'll keep it in mind when or if I use the 203k loan. Hopefully the wife would buy off on using it when ever we get stationed somewhere else.

@Dwight Wilcox Sorry about the questions but my wife and I considered using this loan here in MD when we were looking at buying and I kind of wish we would have used it instead of using the VA loan again. I don't think it would be too hard to find a lender here in this state that has the knowledge with it BUT the contractors here are VERY expensive. Maybe you could find one that would be willing to work with you and give you a lower price if it's worth it?

@Tim G. Great thread about your experience and it was awesome reading it and seeing what is required. My question though is what if your family (dad/brother/sister/Mom/myself) is licensed and insured through their own business and you want to use them for the repairs? I know this is technically cheating and paying yourself back in a sense but was curious and wanted to ask.

@Ryan Blake So I have the resources to find properties and I can evaluate if it’s worth it or not. My partner has the people to do the work on the properties, lacking in funds is the only thing. We are going through all of our options financially but I think a flip may wait until we have the funds to where we aren’t killing ourselves in the beginning. Believe me I’m not offended or upset by any answers, no answer is too harsh for me. It’s best to hear it from the pros honestly.

So I have a partner and we have all of the resources we need to flip a house but the capital is lacking. We don’t have much money to put out and was wondering what everyone else has done in a similar situation that could help us come up with some suggestions? We would even take on a third partner if they had the capital to help. Located in Maryland, any and all advice is appreciated.

What’s their price?

Nicole A, thank you for that, I’ll do some google searches for them. I’d like to stick near my area and maybe stretch it as far as prince Frederick.

I only know of one in Solomon’s island, not sure if there any else where though.

Hey guys I had some questions and needed advice as to what things specifically I would need on the contract side. I have the resources to find distressed properties and I’m pretty good with numbers and what it would take to determine how much repairs a house would need. My only thing is where would be a great place to start as far as what things I’d need in a contract this way I don’t get burned down the road or while transferring the contract to an investor. Any advice and suggestions would be appreciated. I would also like to connect with other wholesalers here near me as well and investors.

Paul amegatcher can you elaborate on the construction loan? If that is the case can you as the wholesaler offer the seller the amount your willing to buy the property for plus the cost to repair it?