All Forum Posts by: Jeff Moore

Hello BP friends I love the burr strategy but have been thinking If I buy a house rehab it, rent it and I paid cash for it why not just get a heloc on it to do the next house, pay back the heloc and now have 2 houses to pull helocs from. What are the advantages or disadvantages of this strategy? Thanks for any input Jeff

Thanks for the info I don't know how to PM but I did email you

I am an active flipper and my title company takes 30-40 days to get chancery title back and clear. Is this common If so How could I buy a house for cash from a homeowner quickly without knowing about title If not Can you recommend a title company that is investor friendly and can get clear title quicker Thanks Jeff

Buying your first investment house is a series of many many small steps that lead to having to take a huge educated leap. Be conservative with all your numbers including ARV. Finally lets say you do it and lose $10000. Is that the end of the world in the grand scheme of your life income. Probably not. Finally fast forward 10 years in your life, look back and consider the opportunity missed over the years and how you will be kicking yourself! This is what got me to pull the trigger

How do I add pics

So I just bought my first flip house on the auction website Xome. Closing took a few extra days, I had to install a new jet pump before closing to get water tested. When the water was turned on it was leaking everywhere and I almost backed out... But I talked to my mentor and he reassured me this is just another fix just like hvac or roof and you have enough profit in to keep going. Other than roof hvac water paint and some handyman work it is in good shape PP $82,500 Repairs $27,000 ARV $160,000-

The above post is for primary residence not the investment property referred to in original post

I have almost 800 credit and show income of $200,000 yearly. We were denied personal line of credit by bank because of our debt to income. 2 years ago we renovated our kitchen and bath room but couldn't get a HELOC because we purchased our house 9 years ago at the height of market. So now after 10 years of paying and finally have some eqiuty based on current value but not enough to pull out and money from it so we took out a loan to pay for our kitchen and bath putting our debt to income too high.

Hello 

I have a property I am trying to purchase and my private lender backed out (family).   Here is the info

PP 48,000

cost to buy hold and sell approx $25000  This includes realator,  6500 seller concession insurance and any other cost involved other than repairs

Rehab cost $40000  all  work  contracted out to liscenced contractors

Total cost $113,000

Reasonable ARV is $140,000 Could sell for more but want to sell quickly

Profit  $27000

I have $25,000 to invest   Looking for the rest approx $80,000  (don't need sellers concession and other closing costs upfront thats why I only  need about 105,000 total)

Please let me know if you are interested in lending money for  6 months

Thanks,

Jeff

I do not invest in Medford but I   have a house I was in process of buying where my private lender fell though (family)  Please let me know of you know of any lenders in the area or if you would like to hear about it I can go over with you also.  The property is in pemberton NJ

thanks

Jeff