All Forum Posts by: Kara Hooppell

I have been reading up a little bit about 203k loans and from what I understand so far, the bank will give you a loan for a foreclosed home, and also set aside rehab money in an escrow for the purchaser to fix up the house. Would this be a good idea for someone wanting to fix and flip a home considering you find a good deal on a property?

Hello,

I was wondering if it would be a good idea to save up enough money to finance the repairs on a fix and flip, and then use a private money lender to pay for the rest of it? Please explain any math that you may use. Thank you!

No, you do not need a license to wholesale in Oklahoma. Although I haven't gotten into it yet, I've taken classes about wholesaling from our local REI meetings. They are incredibly informative, it might benefit you to go to one of the meetings and learn about our market here in the city. Also, you can network with some really successful people who are willing to help a new person out :)

OK thank you for the information!

hello,

I know this is a long shot but I was wondering what a good amount of money would be to start a hard money lending business? I would only have about 5k to start out with and I know that's not alot but is it possible?

Hello,

I am brand new and am looking for a partner who is also new and would like to work together. My main focus right now is wholesaling as I don't have any money to start with anything else. I live in chickasha, OK. I have been doing alot of research but am honestly a little too nervous to jump into this by myself. Let me know if you are interested!

hello! I am also brand new into real estate. I have gone to a couple okcreia meeting and can tell you they are very helpful!