All Forum Posts by: Grant Farrington

Hey, Jared!

Have you considered hard money or private money? If you can get a good estimate of the ARV, then you can possibly find a hard money lender willing to loan you 70% of the ARV for the purchase and rehab.

As long as you could afford the monthly interest payments for 6-12 months, you should be able to refinance the property to pay your lender back and maybe even make some money for more deals! (Assuming the deal works how you hope it can).

I am interested to see what you end up doing. My wife and I are going to purchase or first investment property this year, and figuring out financing is our current obstacle as well. 

Best of luck to you!

Sorry for the typos, having a hard time with my phone..

Hey all, My soon-to-be-wife and I are just getting started in REI and are interested in having friends and family be private money lenders, offering about 10% interest to them. What kind of experience have peoe had with this? Is it easier than ither financing methods or harder? Also, how do you initiate those conversations? We're just still learning and would be grateful for any insight from those with experience with this. Thanks a lot!

@arpanpatel thank you for the input and advice! What you're saying about the volume of flips, profit margin, and taking advantage of tax breaks and low interest rates on buy and hold properties makes a lot of sense. 

Hello all, My fiance and I have both become quite captivated by real estate investing. We really want to make a career of it, but are trying to figure out how to do that. She likes the idea of flipping, whereas I favor buy and hold. In practicing compromise, we came up with a plan. We would greatly appreciate any advice, feedback, or constructive criticism anyone can offer. 

Here's our idea... We want to be able to live off of the cash flow from rental properties within 6-8 years. To do that we want to start by flipping houses. Our goal is to flip at least one house a month for about 5 years. We hope to make an average of at least $10,000 per flip. At the end of 5 years we want to use the profits from flipping to purchase rental properties outright. Depending on how much cash flow the propertues produce, we may flip more houses to save up for additional properties as well until we can live off the cash flow. 

So, does this seem realistic? We are eager, excited, committed, and have great work ethic and money management. Also, we are getting married in May and then moving from Miami, but we don't know where to yet. Our plan is to move to a new location by July, and spend 6 months working and learning the local market before investing. 

Hello all, My fiance and I have both become quite captivated by real estate investing. We really want to make a career of it, but are trying to figure out how to do that. She likes the idea of flipping, whereas I favor buy and hold. In practicing compromise, we came up with a plan. We would greatly appreciate any advice, feedback, or constructive criticism anyone can offer. 
Here's our idea... We want to be able to live off of the cash flow from rental properties within 6-8 years. To do that we want to start by flipping houses. Our goal is to flip at least one house a month for about 5 years. We hope to make an average of at least $10,000 per flip. At the end of 5 years we want to use the profits from flipping to purchase rental properties outright. Depending on how much cash flow the propertues produce, we may flip more houses to save up for additional properties as well until we can live off the cash flow. 
So, does this seem realistic? We are eager, excited, committed, and have great work ethic and money management. Also, we are getting married in May and then moving from Miami, but we don't know where to yet. Our plan is to move to a new location by July, and spend 6 months working and learning the local market before investing.