All Forum Posts by: David Sawyers

@Joel Thompson

would a real estate investor club be a good start?

My issue is that my Wholesale person sends an email with the full detail list of the property with a MA for homes that sold around it with similar dimensions, but I have like 24 hrs to respond to the potential bid.

Hello everyone and hope you are having a great day.

I wanted to start this post by stating I was able to have a 20% down payment investor from a family member, but I am no longer have access as they have passed.

My issues right now is getting that 20% down payment for fix and flip projects. How are you finding OPM? I have a wholesale and hardmoney lender, just need that next piece to start doing projects during the best time to sell aka summer months.

I am currently looking for someone that is up for providing the standard 20% down payment. I had a family member that was my funder, but has passed away and all his funds are tied up in the estate.

How did any of you find your downpayment investor if family or friends are unable to provide?

Also, what was your ROI % for the investor? I was doing 10-12% based on potential resell of a flip?

@Sheila Campbell

Hard Money Lenders. How long have you been in your house? If you have some equity, use it. Yes it sets your home back a bit, but long term you can pay that fast. Also use a bank credit card

If you can use a credit union, my CC has an 8% APR and banks CC are more likely to allow 20k or higher limits which is just $400 minimal payments per month.

@Kenneth Garrett

That is what I was thinking as well. Do BRRRR now, get my passive wealth started and do 1-3 flips a year for that instant income.

Could you share what you did different from the person you mimic?

@Stephanie P.

My thought was Flip start and then rent, but my end goal is to go rent long term.

I think BRRRR is still my best option as I want to get 10 properties ASAP for my passive income.

@Ruchik Gandhi

Thanks for your input

@Jim Goebel

Thanks for the reply

@Kelly Pierce i think you can come up with some unique incentives to get them to move, outside of just finding a new rental, which i suggest you do anyways.

Just come clean to them that you are going to sell the property. You could even give them the first right to a lease option where you will sell to them after a year or two.

My guess is that a good incentive is to flat out agree to pay their moving cost. Yes you lose some upfront, but you would have less worries of property damage.

I was looking at doing a Flip and I know about the BRRRR strategy, but I cannot figure out what is better.

I plan to do a Hard Money for initial finance regardless for the route I do, but what is your personal opinion on the BRRRR strategy when you used it? What was the results as compared to expectaions?

Thank You,

David