All Forum Posts by: Gabriel Petersen

Hey all - this property has been moved! Thanks.

Hi all,

A lady just called asking if I could buy her house in Grand Junction, CO. She's going into foreclosure and needs to get rid of it before April 11.

I live in Seattle and can't / don't want to take this on. I'll refer whoever wants it to her for a bird dog fee.

This is what she said in terms of numbers.

ARV: $250k

Debt: $145k

Repairs: $15k

Email me at [email protected] if you're interested.

Gabe

Thanks all for the comments.

@Nghi Le It's a problem now because I am getting deals but can't do anything about them because all my money is tied up in flips. I suppose I could wholesale but I'd rather do the actual flip. I enjoy it :). And you're right about the area essentially requiring hard money. Sounds like you're running into the same problem? (I think I've actually met you at the Fixated meet up...)

I think the gap funding you mentioned is what I need to figure out. I've heard that mentioned before. Is that usually done by individuals or institutions?

Thanks again everyone, good luck out there.

Gabe

Thanks Eric - yeah the profit went into another flip, but that ate up all the profit. So now I’m out of money again.

I'm in a pretty good market for rentals - I just use Zillow. I'll get 10+ applications within a day.

Hi all,

I'm a relatively new investor (2 flips so far) and am running into a problem where I don't have enough money to pay the down payment and interest payments on my hard money loans.

How does everyone get through this problem?

Thanks in advance for your help!

Gabe

Hello All! I’m a new investor, having done just two flips so far. I’m running into a problem where I’m running out of cash to actually acquire the houses I’m finding. I have a hard money company I can go to, but I literally don’t have the money to pay the down payment or the interest payments. How does everyone raise the money to pay the down + interest payments? Thanks! Gabe

Hey all,

I'm a relatively new investor in the Seattle area (1 triplex, 1 duplex, 1 SFR).

Going into this I had no idea how hard being a landlord could be - I've had people flood my properties, had TONS of minutia calls (hey can you come and look at my sink for me? It drips every once in awhile), had non-payment issues, the works. All with 6 doors!

Needless to say, I thought I should bone up on landlording, so I bought a good number of books.

Here's my list of the top 5 landlording books for newbies out there. Some of them aren't strictly landlord books - but they're relevant to the topic.

1. First-Time Landlord: Your Guide to Renting out a Single-Family Home

2. Every Landlord's Legal Guide

3. Landlording on Autopilot: A Simple, No-Brainer System for Higher Profits and Fewer Headaches

4. What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures, Updated Edition

5. HOLD: How to Find, Buy, and Rent Houses for Wealth

Best of luck!