All Forum Posts by: David D'Errico

If you are trying to refi property you already own it should be easy, especially since you said you purchased without a loan. You would just be getting a new loan and if you talk to a commercial lender you could group the two SFH together on one loan..... Logan Raley at River City Bank may be able to help or call And ask for Jeff Thomas at First Harrison Bank

If they are absentee owners they must have a way for contractors or property managers to access the units when needed.....either the PM has keys or they have a lock box either way, shouldn't be an issue to view the properties other then to give the tenant 24-48 hrs notice 

If they are on Month to Month leases, i would say you shouldn't have a problem raising rent to market value....i would give them some notice at the beginning of one month the the rent will be going up  the next month and ask if they want to renew their lease for 1 yr and if not to give you notice so you can start that process of looking for a new tenant 

Avail is a good one 

@Nathan Gesner is absolutely right and offers sound advice...... flipping is a job. Only massive volume can protect you from ups and downs......which is hard to do when you’re starting out 

its all in what you agree to together......if you are partnering with an investor then there will be a shared responsibility for different portions of the project.....what will each of you be bringing to the table......it can be 50/50, 75/25, or any variation......be sure you write everything down in a contact. Maybe He funds it and you do the work.... and split it down the middle.....hope this helped

So it all depends on your long term/short term goals......income now from a flip or long term cash flow....you can do both but either way just pick one and GO! If you've been educating yourself for a year you're as ready as you are going to be.......the real lessons are learned in the Doing.......so if you are have trouble getting started maybe consider partnering up with someone local that is in the field you want to be in.......BRRRR offers the experience and benefits of both strategies.......the work of a flip, the longer term hold, and hopefully Equity for a cash out refi at the end....... don't let your fear stop you....you will make mistakes....the first deal doesn't have to be a home run.....it's part of your training and education.

thanks @Raphael Collazo for setting this up....i hope to make it 

Yes, get with a local title company and ask about Purchase contacts, they will have some on file you can use....let them know what you are doing and be straight forward with everyone involved.....

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