All Forum Posts by: Denise Leddy

Thank you Kim. I checked into the meetings and we are going to the September one. Funding is still an issue we are working on as well as finding a contractor to double check our numbers to provent hidden repair costs. 

Thank you so much James. I am actually thinking about getting my realtor license. 

Thank you Salley i appreciate your input! 

Thank you Sean, I might take you up on that.

I have been watching a property near me and I think it might be a home with potential but I am very new to all this so I have a bunch of questions. I am very eager to learn and have been searching the forums on BP but I seem to be stuck on the rehab costs. I used the calculator tool but since I am not a contractor and have no connections to one I am a bit scared that I might overlook hidden repairs. Also the realtor said I could only do a cash offer or use a construction loan, is that a red flag?

I have been looking at the house in my hometown for a few weeks now. I was inside the home twice and took lots of pictures of areas I thought needed some work. Yesterday in a webinar  I learned about the calculator tool on BP which I used on the Home and it seems to be a property with potential.

Since I am just starting out I have no connections to contractors yet and I am not an expert on repairs and rehab to make sure i am not missing any potential repair costs so I need help please.

Another question I had is the purchase of the property. The realtor I have been talking to said I would have to provide all cash or a construction loan? Besides my primary home which I just recently purchased (VA loan) I have never bought another home and are not too sure if I might be overlooking something or if cash buy might be a red flag.

Any advise would be greatly appreciate it. I am just very eager to understand the real estate business and strong-willed to succeed and do my first flip or even keep a rental property.

Hello Ralph, Edwin and Asbury. I am glad i found this page to connect to and learn from you guys. I am new to the real estate business but i am eager to learn and strong-willed to succeed. 

Hi, I just stumbled over this post and I was wondering if Missouri worked out for you? I am trying to get started in the KC area flipping houses so I am just curious.

We live close to St. Joseph, so we are looking for properties in the surrounding areas such as clay, Clinton or Jackson county. I have heard about the rental idea a few times and it makes a lot of sense. Thank you so much for your input I appreciate it.

Thank you Brandon and Karen. I really appreciate the help. I am checking into meet up groups in the area right now.

I also checked on financing, since we just recently took out a loan for our home and put all of our savings into refinishing it, we are have no money to buy another home. When you say traditional financing are you talking about getting a mortgage loan through the bank? I am very new to all this, as you can probably tell, but I am very interested In learning.

Yes Karen, I am very glad to I had a gut feeling and backed out of it. Now I am just waiting to get the money refunded and I need to return all materials given to us. We took some notes at the seminar and I hope I can find out more about some of the keywords they gave us. What pulled us into the seminar was them talking about private investors that would charge a 1-3% short time loan fee so we do not have to use any money out of our pockets, which is nice because we don't have any. ;) I am just glad we got out of the seminar before we end up with a bad deal and get stuck in debt.

Again Thank you guys so much for answering me ;)

My husband and I are very interested in flipping houses. But we are a little bit stuck on how to get started. We recently attend a flipping formula seminar which gave us some good pointers but in order to receive information on investors and getting started we were required to pay a fee and attend a 3 day course. We signed up but end up cancelling it since I did not feel comfortable paying so much money for it.

Can anyone give us some pointers where to start or what would be the first thing to concentrate on?!