All Forum Posts by: Keith Thomas

@Jatsons Mateo Hello Jatsons I have financed mine through VA -Rehab loans. That I know is not available for everyone. My next step is private money lender and then exit strategy I have a VA Loan pre approval in place for the remainder of my entitlement. Whatever you do don't give up look for creative way to make it work in your market. I was stuck in that phase of what to do next in my market which is somewhat expensive. But keep digging and networking and get involved with ReIA in your area. I have found that a closed mouth does not get fed. So my mouth is always asking questions and willing to listen other people's stories , there success and there failures. I would be careful with credit cards I have heard there is a lot of stress that comes with that method as well.

@Melanie Johnston Yes Melanie you are spot on and lending some of the resources you know that do certain types of fix and flips are priceless. If I may ask over the next few months My girlfriend and I will be traveling to AZ looking for property as a potential retirement in 10 to 15 years. I am looking to possible purchase now and rent it out. Would you mind if I connect with you and go over some good areas to reside in?

@Johanna Rodriguez I think its good to partner and learn fast but sometimes learning and rushing through some things you can make a lot of mistakes. I would not give up 50% of anything when this person is not doing much. If anything you can let him know if he helps you that you will give him the listing an he can make his 3% commission. If I did a 50/50 split I would approach a local investor that is doing what you want to do and offer them 50/50 to walk you through step by step on what and how to do the process. Getting help from someone who has never done a flip before for a 50/50 is somewhat risky. I am not perfect but you can learn from someone who has done it before . Good Luck I hope this opens up your thought pattern. Not meaning to be negative in anyway.

@Dante Foreman Great job on learning and running the numbers again. Sometimes we try and talk ourselves into a deal when its really not just to get into the game. How did you like the book by J. Scott and did you read his book on estimating the rehab cost as well? Another good one. Good luck and stay positive I look forward to seeing your next deal post.

@Salman P. Hi Salman glad to see you getting started. I am currently looking in Tacoma I would like to connect with you and see if our interest align. @Jason Stratton Thanks for the link. There are plenty of groups I see to network in.                                 

@Lola Uriona Hi Lola,  I would like to connect with you if possible on getting a little bit of insight on where C+ and B area rentals are. Seattle is pricey and looking to locate another market to potentially invest in.

@Dante Foreman Congrats on making something happen. What are the terms with your HML. What kind of project are you going to be involved in? I know its exciting to get that first one under your belt.

@Daniel Dietz

Thanks Daniel those are some golden nuggets you just sent my way. I was totally clueless on this. 

@Daniel Dietz 

You seemed to have a great system set up. For someone like myself who is fairly new. Do you get a lawyer to draw up a contract for you and your partners? Also when doing these deals with private money or partners, where do you put the money in some kind of escrow account ? 

@Taylor L. Thanks Taylor for those priceless nuggets. I am looking to create connections everywhere.