All Forum Posts by: Joel Phipps

Lol your input is amazing @Darren Eady  You are so full of wisdom my friend I would have never thought of that approach...  And I am not just looking at family as a matter of fact I think most of the world is not in the hml business... I intend to be dealing with the most of the world in which 7% is an amazing opportunity...  Can't knock your hustle though, I do not sell like I buy, so of course the hml would not lend like he borrows...

@Juan Casillas 

definitely being done now but as that is in the process I'm still getting these deals done...

@Charlie Fitzgerald the ARV is $65k and I'm looking to get $25K

@Darren Eady why would I go to a hard money lender on a long term cash flow rental, I am confident in telling my "private" lender what I am willing to pay when I know the alternatives are savings accounts, mutual funds, and the stock market.  This is an incredible opportunity for someone who is not in the hml business, but I'm sure you know that.

So I bought my first rental property a few months back in a mid to lower income area of Orlando, Fl.  I bought it cash and I am currently renting it out at $700 a month.  I have no active credit as I have never had a credit card and recently bought my car cash (I have never financed anything).  I realized the power of putting my dollars to work so I decided to look for private money as I am willing to pay up to 7% on a $25k loan.  I do not want to deal with banks at this time as I want to start to build credit before doing so.  I recently just started reaching out to my old buyers for my past wholesale deals, family, friends, ect... Any suggestions on how I should approach them?

Thanks @Lucas Machado @Adrian Smude @Mark Nolan @Charvick White @Morgan Hogg @Michelle Murray @Account Closed you all made some good suggestions!!!!

Hello Everyone, my name is Joel Phipps and I first heard about bigger pockets last year from my buddy Nasar Elarabi while we were at a rei conference in Dominican Republic... Since then I have been a frequent listener of the podcasts and I decided this year I will become more active and social in the BP community.  I started out as a wholesaler, and towards the end of last year I bought my first rental.  Ever since getting my first taste of passive income I am hooked and as a transaction engineer one of my main focuses is acquiring more rentals... I am located in Central Florida which is currently my main market, along with South Florida areas including Miami and Fort Lauderdale... Still getting my footing on how to work this site but I figured I start by introducing myself....