All Forum Posts by: Jason Lamb

So I am new to the site, and thought I would get some feedback regarding the lending process and flips. There are some creative ways and I would love to hear from people on their experiences. I have been involved with numerous flips, but I am looking to now do my own. Most of the ones I have done were partnering or as a GC. So I never had to obtain the lending part. The few I was involved in were (A) 50/50 equity split where the investor brought all or a majority of the money and the equity was split at the end amongst us. (B) portfolio loan for up to 18 months with 20% down. Which seemed to be a nice way to do it but we had a lot of our own money tied up in it. I have approached different lenders/ or hard money people and they seem to be all over the board. Some want you to bring in money others don't care. Some want all comps to support your value in 10 mile radius. What it comes down do is a lot of them wanted to do a deal " or say they did" but when I brought them one they were to slow to react and the property went under contract. Almost like they wanted it to go that way. Although I tracked 3-4 deals that I thought were good and all of them ended up in the ball park of what I had originally thought. 40-50k profit after everything was all said and done. Anyway it gets me excited to find the next deal! Love to hear from other people! Thanks Jay! Thanks, Jay

Thanks everyone for the welcome. Thanks

Thanks, Steve. Looking forward to it!

My name is Jason Lamb, from the Windham Maine area. I am a Master Plumber and a gas and HVAC technician. I have a lot of experience with both building and renovating properties.  Real estate interests me in all aspects but flips and income properties the most.