All Forum Posts by: James Vermillion

I cant help with the contractors but congrats on the accepted offer!

Welcome to BP Justin from down 64 in Lexington. Glad to see another Kentuckian on BP.

Welcome to BP William and thanks for your service! I just left active duty last summer. Good luck and let us know if you cannot find something you are looking for.

Alexander Bustos, I will try to answer some of your questions. I found the banks by looking online, remembering banks I saw around town, and asking other people. By local, community or regional banks I am not talking about the big guys (Bank of America, etc)...so it won't be that hard to distinguish.

Calling banks is ok, but you really need to go and talk to someone. The loans I am referring to are commercial loans (I am borrowing with my company (an LLC)) although I personally guarantee the loans. So you will likely want to talk to the commercial lender at the bank.

As for cash down, you are almost certainly going to need something. We do not need 25-30%, but we do need to bring 10% to the table, and I have not heard of many places that are still doing that.

When you talk to the lenders you are going to need to go in with a plan. I would recommend finding a potential deal and using the BP Flip Calculator (put in as much info as possible and be conservative on the numbers)...you can take the report to show them they types of deals you are looking at. They are lending to a business, so you need to prove to them you will be successful.

I hope that helps.

Here is a blog post about The Best Real Estate Books Ever .

Welcome to BP Kurt!

Welcome to BP Seth! Those are some lofty goals, but no one got very far with low goals. A good starting point is the Ultimate Beginner's Guide , so if you haven't checked it out yet, I would recommend it.

I hope to see you around the forums!

Awesome Robert! I agree with you 100% about learning between libraries, the web, and other people, you can learn almost anything you want to learn for free.

I agree, that's why I keep coming to BP...there are a lot of people much smarter than I am!

Welcome to BP Robert! Have you read the Ultimate Beginner's Guide yet? If not, it is a great starting point and primer on real estate...the podcasts are awesome as well!