All Forum Posts by: Dennis Pressey Jr

@Brandi Jenine

FYI, most lenders will not lend if the loan amt is not $75k minimum. Some lenders will do $50 but there aren’t many.

So this rules out $3k properties (how much I paid for my first Detroit property)

🤓

@Brandi Jenine

Connect with wholesalers, good ones - IMO skip the agents and realtors because finding one that actually performs well is a nightmare - yes even your sisters boyfriends aunt...

$70k is more than enough to begin in Detroit.

My advice would be to NEVER use your own money and go find OPM.

If you have $70k, $15-$25k is deposit toward a lending partner to finance the deal. Keep the rest in the bank to survive project.

@Kenny Colato

You can expect land to be 20-30% of the value of the home you will build - general rule.

You can also comp and filter ‘land’ only

@Joseph Vu

Finance it out at a rate that cash flows and go get 2 more.

@Sarah Williams

Yes. Family, friends or private investors. A down payment should be fairly easy to find.

DM me if need be

@Travis T. Braman

Welcome. Look around and search, everything is available here. Then find a mentor and get started ASAP.

@Mallikarjun Reddy Pateel

Hey man! I’ll shoot you a DM right now.

@Arzu Alimjan

Wholesaling and renovating. Shoot me a DM if you are looking to purchase or possible partner. We renovate south Jersey mostly, wholesale all other areas

@Arzu Alimjan

🙏 Welcome.

I personally do not attend any meet ups at this moment but there are several in Jersey.

Just getting started?

@Nicholas Le

I have not heard of his program. You can find a mentor through bigger pockets, your local REI meet-ups, or otherwise.