All Forum Posts by: Ben M.

I am in the middle of flipping a home under a hard money loan. I was thinking of not making any draws until the end of the rehab since I have to pay a fee every time to make draws so I am trying to avoid the fees. Is it okay to do this or is there something I might be missing and that it might be better to make the draws in between the rehab

 Hi Rick, they asked for 40% and the amount was around 18k. They are a reputable contractor supposedly so I was okay with giving the 40%

Glad I have this community to reach out to to keep me from getting into trouble!! Thank you!

Should I expect the contractor to work on my house everyday on a flip project? If they are not on your house for one day when there are no major weather issues do you check in with them and ask why they were not working on your home?

 Thank you!

I am from Houston and purchased a property in San Antonio in the 78227 zip code. How do I find out who does the neighborhood trash pickup in my neighborhood?

Hi Brady, read and learn the basics as much as you can. Understand the numbers as much as you can because that is really key to determining if it's a deal or not. Then I would just start taking small steps, like looking at properties and practice running the numbers (the BP calculator is great), and figure out things as they come up. When you're ready to start looking at deals reach out to an experienced investor or realtor who can also assist with giving you an idea of how the process works, rehab costs, financing, etc. And of course you can always ask here in the BP community!

I’m from Houston and looking at getting a rental property in San Antonio. 

Trying to get an idea on insurance cost to own a rental property, I guess that would also have loss of income coverage. Around how much would I expect to pay on a property that’s worth 200k?