All Forum Posts by: Frisco Hanley

Thank you everyone for the advice, I'll take everything into consideration.

Does anyone recommend any private lenders or hard money lenders in Arizona? I'm looking to get started in real estate and I was wondering what would be the best course of action when it comes to getting funding for a rental property?

@Paul DeSilva would you recommend using BRRRR for someone that is thinking about using a lender to purchase their first investment property?

Question: If I live in one state but would like to buy an investment property in another state, can I apply for a home loan from a bank in that state that I do not live in?

Question: If I live in one state but would like to buy an investment property in another state, can I apply for a home loan from a bank in that state that I do not live in?

In regards to wholesaling, I feel like the lack of understanding when it comes to the contract process as well as the way the payment transaction is handle is holding me back from initiating deals. I understand that the contract between myself and the seller would be the P&S contract and the contract between the potential buyer and I would be the assignment contract (correct me if I'm wrong). But at what point do I collect the check from the buyer and once I do that, do I wait until the check clears then write out a check to the seller? Does an attorney handle the payments? Is an escrow account needed? Does all this apply and more? Please let me know, Thanks.

Thank you for your opinion Phil

Jay Hinrich thanks for the input

Hello BP, I'm fairly new to the world of real estate and trying to obtain property; I learning as much as I can but I'm also not afraid of taking risks. I'm also a grad student so my financial situation is not actually the best and I'am currently enrolled in a credit repair program (hopefully that helps with potential loans if need be) so I was thinking that maybe NACA would be a great start to purchase a multi family to house-hack and product passive income. Does anyone think this would be a legit idea? Thanks in advance.