All Forum Posts by: Barrington Duncan

Just closed on my first deal today. I'am so happy, brought a vacant lot in Newport News, Va from Wells Fargo REO Dept. $2900, about to build a house on it and sale it. Thank to all in BP for all the helpful information. Now need a private lender who lend on new construction any ideas?

Shera Gregory thank you!!! Sounds like a great thing to do I will check these places out.

Dawn Anastasi I need your insight!!

The loan is 8 points and 10% interest only, based on a 30 year amortization. All rolled into the loan and whatever you don't accrue, is credited back to you at payoff. This is what the fees are for from a Hard Money lender on a Property in Hampton, Va. Can someone break this down to me.. Only other fee out of pocket is: Earnest Money Deposit $1000. Appraisal Fee$250 Purchase price:$64,000 Rehab$40,00 After rehab Value$184,000 I'am planning to fix and flip this house not hold for rental! Is this a great deal?

@jscott

Do any one know a company to do business with to open a business line of credit for a new formed LLC in Virginia of Nationwide? Also my credit is 700+ and can I use the money the make earnest money deposit on contracts? All information is helpful! How can a open business line of credit help me?

Need a great contractor in the tidewater area in Virginia do anybody know of any? Need someone give me a estimate so I can gets the numbers to make sense to my investor!

Thanks Michael Stensrud for the input. I will check these websites out!

Is there any get online stores to order fixtures for bathrooms and kitchen items to do rehabs? I can so to Lowes or Home Depot but was wondering is there is any website to order great things at great prices. Just trying to get BP take on this and thank you in advance for your help!

Thanks for the information!!Edward Burns . To answer your question he is my first fix and flip contractor so if he does a great job we maybe doing more work with each other ! He is a general contractor who subs jobs out to specific trades. Quick question with dealing with HML do the contractor must have a class A license or class B because this contractor has a Class B?