All Forum Posts by: Hunter Perkinson

 PM sent!

Hello BP family,

I am a rookie to the game but looking to get started in a big way. I want to develop my family's land that I have inherited. It's not all mine, parents and sister share ownership but are fine with me doing this and splitting the profits. It is lake front property on about 40 acres. I want to subdivide it, build houses, and sell them off - create a subdivision. Because I am a noob, i have met with a local developer who has a history of developing subdivisions on the lake. 

I am curious as to how I should structure the deal with him. He mentioned not charging anything for setting up everything (permits, surveyor, soil test, etc) so long as he gets the listings where he would want 10%. I'd still have to pay for the permits, surveyor, etc but he has the connections and knows the process obviously. 

I also want to know the best way to bring in a builder on the project. It seems like I'd be leaving money on the table if I didnt partner with a builder to build the homes. 

So just looking for general advice, what questions I should be asking, what are some good books or podcasts, etc. 

Thanks in advance!

-Hunter

 Doris! That's awesome! Do you mind if I ask what lender you are using and how your experience with them has been so far?

Good luck on your flip!

@Jon Holdman @Nghi Le 

Thanks for the insights guys. Sounds like I need to reach out to some hard money lenders with a business plan to get pre-approved.

Thank you!

Thanks for the details, Dustin. So there is a specific hard money type of contract that is used with the seller. Is this something I would obtain from the hard money lender or would this be done through a realtor?

Hello BP, 

I was hoping someone could give me clarification on how using hard money works. I've never flipped a property before but thats what I'm looking to do. I want to get my financing in order first and hard money is looking like the best option for me so far. 

Do I need to line up a hard money lender before I have a deal in place or do I need to present a deal to a hard money lender initially for consideration? 

In either situation, what kind of verbage and documentation should I be using with the seller? I will be targeting distressed single family homeowners via direct mail. 

Can someone please walk me through what this process looks like? 

Thanks in advance. BP has been a great resource for me and I look forward to the day that I can give back as well!

That's a hell of a first flip. Well done!

 That should work if that's the source, good luck!

Get a pest control company to tell you what kind of fly they are and what their likely source is. My guess is phorid fly and they're coming from the drains.