All Forum Posts by: Mike LaCava

welcome Jessica LeClair. BP is a great place learn. Nice to see others from Mass on hear. Market is heating up but still some bargains out there. Nothing like passive income.

Ok sounds good Nicholas Stevens

Also check out Jerry Puckett as another great wholesaler. He just did a podcast here on BP as other as well you should listen to.

Hello Matthew Kavanaugh. Check out Danny Johnson, Sharon Vornholt and John Fossetti as they are all wholesalers and can offer some guidance.

Hi Nicholas Stevens. Like you said you know the answer but on higher ARV's you can be higher than the 70% because of the dollar value is greater. I don't recommend new investors break the rule because they will most likely go over on rehab costs & over speculate on sell price. We are buying properties better than 70% and some higher to keep our volume going. We have been fortunate that we are selling higher than projected because the market is heating up for sure. If you are wholesaling in box me as I am buying and looking to ramp up to 4 a month as I have 2 acquisitions managers on staff now.

Welcome Colby Miles. The great thing about BP you will opinions on sides of any issues or investment strategy. I do both and like Brandon Turner says you need to understand the #'s so you don't run out of your cash on a flip. Partnering is a great way to start out but make sure it is the right partner. Depending on your area and what houses go for will also determine how far the $25k will. I started flipping to create cash to invest in long term holds. I spent a lot of time educating and learning the business first so make sure you do your due diligence no matter what way you start. Best of Luck

I believe they are not legal in MA. You can call your local town and ask if you can get a permit for it and they may allow it that way.
I don't know because I have not done it personally myself. Mostly wholesaler put them up and assign the deals to investors like myself. Best of luck Maria. John Fossetti might want to chime in here to offer some knowledge on this subject.

consider working with private lenders or hard money lenders to get started. once you establish some history then you can consider using banks again. good luck. talk to a real estate investor friendly mortgage broker and they may be able to get you into a hard money loan that converts to traditional loan after you rehab and rent out the property. you can count the income from rents to help.

welcome William Matheis. BP is a great place to learn. Good luck.

Welcome Brian Jones. BP is a great place for learning and getting questions answered. Best of luck