All Forum Posts by: Dennis J Marsack

@Dean I. Thanks for the input. We did set up an LLC which eventually all the business will be done through.. so sounds like you are successfully doing what I plan on doing! Great to hear it's working for you.

Thanks again

Dennis 

Hey guys, my Fiancé and I were discussing possibly taking out a large personal loan (from like prosper or even financial..) to fund a fix & flip deal.. what are your thoughts on this? Could it work to buy a foreclosed home? Haven’t narrowed a specific deal yet, just looking at options.. seems to be a lot of foreclosures popping up in our area.. 

any insight would be greatly appreciated! 

Thanks

Dennis

@Emily B. Thanks.. I am a member of my local Credit union and they have always given me personal loans pretty freely.. now you got me thinking..

Good to know! I hadn’t thought about that.. thanks guys. Private $ is looking like the way to go..

@Scott Matthew C.

I'm looking to purchase something less than 40k ideally.. the cheaper the better of course. The investment will most likely be a flip to start building some capital, however we are not completely opposed to a buy and hold.. depending on the deal. I haven't procured a solid deal on any leads yet but I'm working on it. I Don't think I'd have a problem securing a conventional loan, but the down payment would be an issue at 20%. I'm slowly learning that the lender I've used in the past for my personal home purchase may not be the best one for investment properties. Any suggestions??  

@Rachel H. Ok so the Lender can decide based on the deal and your credit worthiness I’m guessing?

Hey guys, just a quick question.. is 20% down the minimum when purchasing an investment property in Michigan? Are there any loopholes?

@Richard Ball thanks! I sent some direct mail to the address.. we’ll see if she bites. Do you have any experience in wholesaling? I’d like to watch the process work wth someone who knows what their doing. 

@Derek E that is exactly what my thoughts are.. 

Hey @Robert Spencer, sounds great! I have yet to get that first deal. I can use all the insight I can get!