All Forum Posts by: Jeremy Bloom

Thanks a lot for the advice. Comps in the neighborhood have recently sold between 135k and 155k. My main question was about the financing and it looks like I need to save some more before I get into this. I will have 11k saved by the end of the month so I'll be getting close. I appreciate the advice

I am very new at Real Estate investing and have some questions. First off I have 7k in savings and I found an REO property listed for 70k. My question is should I save 20% for down pmnt and get a conventional mortgage? Should I get a hard money loan? I am kind of hesitant about a hard money loan because I plan on doing the work myself and I already work a full time job so this wouldn't be a quick flip in 30 days like you see on TV. but would be done in a matter of months. I understand the idea is to flip a house as fast as possible but I also feel by doing the work myself without hiring it out there would be more profit after the house sells.

Thank you very much in advance for your replies.