All Forum Posts by: Jasmine Claye

I do plan on investing soon, I was just wondering when I would be able to see significant profits once the market picks up compared to now. But I mite as well take advantage now.

Thanks for the input. I wasn't really expecting a boom I was simply referring to a big come up. But thanks for making light of the situation.

Does anyone have any earthly idea as to when the RE market should start to pick up for flippers? Or is it already showing a come up? I hate i missed the RE boom so I am patiently waiting for the next one :-) South Eastern region if anyone can refer to it specifically or anyother location.

Thanks everyone. Jon, I'll check into that financing. Still trying to decide.

Bryan .... I plan on creating a solid plan with solid prices to calculate real, almost correct reno costs. It's just hard trying to forget about the deals that are more than likely always there. Habitat materials, classifieds, etc. Everyday I look in the newspaper, there are appliances for sale, cheap too. As far as the Habitat place im referring to, I've been going there for a while now and they always have stuff for sale. This particular one im talking about sells household things just like Lowe's and Home Depot does. Alot of it is brand new while some is in really good condition. I like to compare the Home Depot material prices to the Habitat store and see the difference in price. When I calculate a budget, I'll use Home Depot prices but once I actually start the reno, I will visit the Habitat store, classified ads, etc. FIRST.

Bryan .... I will check into those banks to see where I may land something. Hopefully it will all work out. Maybe I can PM you to learn more about the whole process of flipping if you don't mind.

Thanks everyone for all of the feedback. I've learned a lot from here.

Thanks guys! You've given me some great info on where to start. I really appreciate it.

Thanks J Scott. My credit is decent, & I was expecting to do just that, start visiting the really small (fewer than 3 branches), local banks in my area. I figure with about 25,000 or so, I should be able to get something from somewhere. Hope it works out!

Would you happen to know of any penalties for these types of banks if I sell the house in less than a year? Also, with the 70% of purchase + reno, how much do you think they would want down? I can bring the other 30-40% to the table.

Brenden J ... I am bringing 25,000 to the table so I was thinking I could get a loan from somewhere, either a bank, credit union, or state program to purchase and I just use the 25,000 to reno.

I do not plan on using a HML. More so a conventional loan if I can ever find one which, I will try my best to do so. I was thinking I could check out banks, credit unions and state programs for funding. I also plan to bring about 25,000 to the table so I should be able to get a loan with that down correct?

Bryan .... I was chceking into cheap materials and the Habitat for Humanity has some materials for cheap that are all in good shape for a flip. Cabinets, countertops, flooring & other misc items. I was also thinking about the newspaper classified ads and Craig's List for items. As far as labor, I have not checked into any cheap licensed labor. However, I do know some people who could do some of the work for not a lot of money. Laying tile, installing cabinets and countertops, etc.

How long did it take to sale? Great Job!