All Forum Posts by: Gabe Rangel

I just came across an ad, that led me to a webinar, for a company called fund & grow. The pitch was; why go through a HML or private lender? Giving you access up to 200k with 0% interest using their strategy of stacking credit cards under your name through a business account so it wouldn't negatively affect your personal credit score for the low cost of $3,500! They've been around since 08' have fairly good reviews & an A with the BBB. Has anybody used this company for funding? If so, what was your experience? If not, what are your thoughts on this concept?

@Salvatore Lentini. My credit is excellent, this is my 3rd year @my W2, I need more capital for down payment. My DTI is under 10%. I have to consult with a tax attorney to see if the statute of limitations has expired on back taxes from 01'. If not, I will have to get on a repayment plan in order to purchase my 1st rental. What should be my lending source? I'm hearing conventional doesn't support 1st time rentals, unless I planned on house hacking, which is currently not an option for me.

@Evan Polaski sorry for the delay, I just located the thread. From my understanding, my buddy is going through a divorce. He's done a few flips & is looking for investors to fund his projects. We have to different long term goals, but I believe we can work together to help each other acquire them. I'm not a contractor, but would like to see the process in the making. Are you saying that the rehabbing is only done on weekdays or the GC doesn't work the weekends? He would be the GC. Thanks for the reply, so far I've just been saving capital, reading books, listening to podcasts, & watching YouTube, while trying to find a side hustle.

@Sean Sloop sorry for delay. I'm new here & couldn't locate this thread. I have about 20k of my own cash, without seeking help from family friends, or lenders. This would be for the down payment or rehab, which I know isn't much. I don't have the expertise or capabilities of Flipping a house by myself, yet. Yes, I want to be out in the field to gain experience. My goal is to flip a few properties, to gain enough capital & experience to start building my own portfolio of single family homes, duplexes, & complexes, to be utilized as rental properties.

My buddy just obtained his broker's license. He has flipped a couple of properties. He asked if I wanted to invest. I asked what was required. He said it depends on how much work I put in & how much capital I raise. He also gave me the option A to go half with the deposit & any other rehab materials, show up at work sites, & we would split half the profits. Option B was to take out a conventional loan in my name, & he would fully fund it. I would come to work sites on the weekends, take notes & collect 10k once the property was rehabbed & sold. Are these good options to gain experience? I have never flipped a property & wanted to start building my own portfolio. Thanks for reading.

@Eduardo Reyes I'm also saving capital to invest later this year. I currently live in IL about 35 mins from Chicago. What are good area for Flipping that aren't in the hood?