All Forum Posts by: Dymond Shafer

@Vick Galu Do you mean private or traditional lenders?

@Theo Hicks Thanks for the insight! So it sounds like you’re saying have private lenders on standby? I’ve always struggled with getting over the fear of losing a loved ones/close friend’s money.

Hey BP folks! I’ve flipped a few SFH purchased on the courthouse steps. As you know, these are same-day all cash purchases. I wish to scale- flip more than one at a time. So question, how does one raise capital, say private/hard money when an unknown amount of funds are required same-day in a blink of an eye?

@Dmitriy Fomichenko so I guess the real question is how to fund deals with self directed 401k, indirecty 🤔🤔🤔

@Dmitriy Fomichenko  Thanks for the reply and insight!  Unfortunately, I cannot borrow against my 401k because they are no longer my employer.  Rollovers to truly self-directed Solo 401k plans still subject to early withdraw/tax penalties? 

@Jerryll Noorden  Great before and after pics!  Please expand on "power of a ranking website."  So how long did it take you to flip?

@Jerryll Noorden  Great before and after pics!  Please expand on "power of a ranking website."  So how long did it take you to flip?

@Anthony Bibbins @Jeremy Roberts

I agree keynotes/speeches by Gary Vaynerchuk and Eric Thomas will get you primed better than some books.  But "Crush it" and "Crushing it" both great.  12 Week Year, The One Thing, Rich Dad Poor Dad, Essentialism, E-Myth and Morning Miracle.

@Kevin Krysty Jr . Sorry for the late reply...but Gary Vaynerchuk (his books too) and Eric Thomas keynotes alone will get you primed!!!  If rentals is your path- set for life by scott trench was awesome.

Hello BP enthusiasts...My first two flips were successful, but like most, raising capital is a challenge.  For our next two flips (both under contract)-- advisable to use Hard Money or my old (separated from employer) 401k?  Hard money is expensive, yet I get penalized 20% for an early withdrawal from my 401k.  

Lastly, deposit capital directly into personal account AND THEN into my LLC account? Or okay to deposit directly into my LLC account? I'm slightly aware of the dangers of commingling retirement funds/personal funds.