All Forum Posts by: David Canecchio

Taking all the steps that I need to take that u cant know until you start your journey . So first I opened an llc online and going through that process (which is more than I thought , I have to advertise my llc is 2 newspapers for 6 weeks ) that's so I can get pre qualified for a hml loan . I'm doing that because I can get a mortgage my self only have a w2 for 6 months . Going to use my savings and some family member for the downpayment ( my area is expensive looking at houses between 250k which is very rare and 400k ) . Reading and listening as much as I can .

Need to raise Capitol for down payment of the deals I've been watching. As of now csnt get anything I can do by my self . So I sant to ask friends and family for 10k loans with 10% yearly return . I want to get a letter notarized. But that's not enough wouldn't be enough for me if someone was doing it to me .

My question is. What else can I use as leverage to raise money .

I'm new to the game . I find my self looking in the MLS everyday and night . Going through the same houses in the same neighborhoods. Is searching to many areas a bad thing ? Should I analyze every house find the number that works and make an offer? Dobt know how to lead source

Ok .

Purchase : 450k

Reno : 30k

Arv : 610k

Talked with 2 hml lenders on private guy and one company. Have a team to do work and I am the boots on the ground .

Have an llc to work with for the hml.

Looking to get my feet wet. As well as other experienced eyes to look at the deals I think r good . Talked to the top agent in area about property

I am only working a w2 job for 8 months . I know I cant get a traditional loan because I need 2 years of proven income . So I decided to use a hml ( abl lenders ) . Found a good deal from buy price to resale 150k difference . Buy price 450k sell price 610k . In a great area ( princeton junction new jersey) ( close to all trains and great schools ) I have only 20k of my own money looking for other I investors to partner up with to help me complete the deal . Need to put down 20% for the lender .

Orginally I was looking for cheap houses 100k so i can do it by myself. But talking to the real estate agent she i sted that this is the best deal i can do and i should try to get investors to help me . So that's where I'm at now .

would like more info. onterested in getting involved in mobile home communities . home prices in my area are the price of the trailer park . makes me curios 

How to talk to lenders and feel confident that I have a good deal . Dont want to sound like I dont know what I'm doing ( only have an idea never really done it before ) want to use private money to fund my deals and generate cash flow

@Allan Szlafrok thankyou

Is it possible to get a private money lender to also include the rehab cost in the total amount

I'm a new investor looking to go to a meetup close to my area ( I live in staten island New York) . Want to Interact with people to get a more real feel than reading and listening to podcast .