All Forum Posts by: John G.

Hi John

I also would be interested in meeting up with a group. I have gone to a LIREIA ( long Island real Estate Investment Association) as well as East Coast REIA ( also a long Island group) How would this meeting be different ? My experience with those groups , although they had some good people attending, the meetings were not very strong.

Hi All

I am new to the BP forum as well as flip and was hoping to get some feed back on best practices to get the ball rolling: I have looked at a few properties but realize I might be going about this a little off. My game plan is to utilize both my own cash as well as " hard money." Do you suggest I secure a line of credit before I look at any more properties? 

Most lenders are looking for an expense deposit (1 national company is looking for $2,500) to cover their cost of due diligence and establishing line/loan.  I know hard money can be expensive ( pts, 8%-12% plus every fee they can stick in the agreement ) but the expense deposit appears to be excessive to to get started.

I appreciate all feedback

Hi Pat

I am also very new to this game. I recently went to my first REI meeting. i made contact with Susan Musto from Jordan Capital. ([email protected]) I only meet her once, have not user the service...just passing along the contact info. I will say they are pricey ( that's why they call it hard money) and you would need to have skin in the game. Typically 20%

Good Luck