All Forum Posts by: Jonah Wilson

Originally posted by @Joe Villeneuve:

Not sure how your actual question/post relates to the Title.

Well my friend wants to use his credit to fund my deals, should i use a hardmoney lender or bank?

I don't know where to start as far as securing the funds on the next deal.

 Do we have to use a bank? 

 I'm more interested in using private lenders or is it a difference? 

My hardest step was getting a credit score above 700 and now we have a 750 credit score. 

After finding the right deal which direction do I go?

All advice wanted( good/bad)

 I built a business with my wife of 10 years and she decided to go her separate way and took everything with her,  that was worth having. Before that  I've always worked with my father at our funeral home and after he died in 2016 his new wife took everything that he had. I lost everything due to lack of payments, my car , home, dog, guns, etc. amongst other things that put my credit in this situation.

I've considered working for a broker after finishing my license course to save up money. I'm an "office worker", not labor type but I live in a pipeliners territory. I see wholesalers use other peoples money in real estate but they are not willing to share, for free. ( if anyone is actually interested in paying it forward and I would be more than grateful.)

I have deals under contract that some "dream makers" backed away from. Its real money to be made here. (Just for example, I have a deal right now that less than 1/4 miles from the mall. The ARV is 112k, repairs are between 15k-22k, I have the seller satisfied with 30k, my end buyer was willing to pay 40k because he specifically asked for this area but now "the street is too busy". Thank God the seller has someone lined up to do a land contract just in case I cant get funded.) I can get deals all the time and I get tenants all the time. The population growth isn't like a big city so getting rich will take a few years but its worth the extra

50-100k in the long run, of that's my opinion.

Feeling frustrated about my situation. My credit is below 600 and I’m full time with real estate. I’m from Dallas Texas but I moved to a quiet town in Ohio. The homes here start at 4K and the value can be ridiculous on them the issue is this is a buyers market and with proper funding you can remodel homes and put pipeliners in them. The jobs are plentiful here if you like that type of work but there’s a huge demand for investors here. What can I do to get funded and start making serious cash?

I’m in an area where homes can be as low as $3,000 with an ARV of $80,000+, of course repairs can be above 40k in most however, most of the homes are vacant due to lack of population growth. I’m surrounded by deers and trees mostly and the Mountain View is breathtaking but the cost of living is very affordable and this town is really a jewel with the classic cars and antiques. Majority of the homes were built in the early 1900’s and a lot of pipeliners are sent here to work. Research will show big companies buying homes for their employees to stay when in town. I do have 1 investor buying in my area but there are tons of deals and steals here. My concern is this; being less than a year into investing and having horrible credit I don’t have a clue how to build funds for my deals or attract buyers to what I think would be solid investments? I need funds or enough flips to build my own finances. It’s to the point we’re I’m considering moving to Columbus to grow my business but I find it hard to leave this place because the scenery is very enchanting. All advice and or comments welcomed.

If you need East Ohio/ Wheeling WV/ Pittsburgh let me know. I can get California too.

I have a contract with owners finance, there's about 6k in back taxes and 1k in late bill fees. I'm interested in renting it out but need help clearing up the issues. Any advice or help available?

thanks

I HAVE A DEAL IN JERSEY CITY THAT'S READY TO CLOSE. THE BUYER HAS A LAWYER IN PLACE AND HE'S STATING WE NEED A LAWYER. OUR CONTRACT STATES "BUYER" WILL PAY ALL CLOSING COST BUT THE LAWYER WE ARE SUPPOSED TO USE HAS A 1200 FEE. IN OHIO WE USE TITLE COMPANIES, DO I  NEED TO FIND A TITLE COMPANY MYSELF OR SHOULD I JUST USE THIS LAWYER AND HAVE THE SELLER PAY THE LAWYER FEE..?  AND IF I NEED TO DOUBLE CLOSE WHATS THE BEST WAY WHEN USING THIS LAWYER ? 

I'm 40 minutes outside of Pittsburgh