All Forum Posts by: Robert Freeborn

@Bill Schrimpf maybe. But is always constantly in flux. And if I can use OPM, then I can leverage. I do have cash and credit still, just not enough for 10-20% down in my market.

Besides, as an agent, I earn on the buy and sell. As a Licensed GC I earn on the rehab as well.

Leverage.

@Russell Brazil

I may be wrong, but if you aren’t an agent (I.e. member of that mls) what does it matter? They can’t fine non-members.

@Jay Hinrichs

Wait... you do that? I was actually looking for someone for that a month or so back. Part of the issue we ran into though was that the lender required 5% from me, as opposed to getting all of the down payment from another source. Still.... I’ll send you a message. Be nice to have another option available!

@Jay Hinrichs

Thanks Jay! Those issues you brought up are the exact ones I was concerned about.

I don’t mind some of them at all, it’s the lack of information and transparency that are bothering me most.

I’m not a new investor (all things relative). My next flip will be my 6th. But all my funds are currently deployed on other projects, so I thought this could be a great way to leverage more.

It seems like the biggest issue a lot of people have is that they don’t run the numbers properly before hand. Also long as we know what their criteria are for a deal, we can run the numbers and know if it works before blowing the 650 on an appraisal.

Has anyone used the company Do Hard Money? I’m very interested in their 100% financing option but, as I’m sure you can imagine, see ALOT of red flags.

But they claim to have lots of success, so I figured I’d check in with the brain trust.

Has anyone used them? How did it go? Would you recommend again?

@Joe Mercer

Hi Joe! That is tricky.

Make sure the loan officer you are using is truly a broker. My gal, @lisa Kennedy, has multiple vendors she uses for conventional, non-conventional, portfolio, hard money, etc.

If they don’t have those options available, find another lender.

@Justin Yu

Hi Justin! I wish I was closer to help you out, but I’m up in Whatcom. I don’t have much experience with in person. Auctions, but you can also do online with auction.com. It’s all about due diligence.

I’d be happy to talk with you about the fix and flips though. It can be more difficult, but it’s definitely possible to find good ones on the mls. Just takes diligence.

@Ashutosh Koshe

Welcome! What part the state are you in?

Also, if you’re asking for help or looking for partnerships, I’d highly recommend completing your profile on the site. Gives a better impression.

@Jack Haskins

Personally, I would jump at those numbers. But I’m in a different market. Just know your numbers and stick to them. There are many lenders out there.

You could also try owner financing.

@Trey Dyer

I’ll send you a pm.