Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Kyle Simmons

Kyle Simmons has started 3 posts and replied 6 times.

Post: Strategy in finding a home to flip?

Kyle SimmonsPosted
  • Real Estate Agent
  • Alexandria, VA
  • Posts 6
  • Votes 0

After reading, and doing some research I came up with what I call the "3-P's" of Choosing a Farm Area to do flips.

Proximity

  • “Neighborhood news” is not even a yard away! It will be easier for you to stay-up-to date on the “happenings” in the community.
  • Shorter commute.
  • Create conversations with neighbors, who can possibly pass along a potential buyer.
  • You get a better “feel” of “who” your target buyer may be.

Price 

  • Account for cash flow needed for monthly expenses.
  • Select a farm area where you will stay below budget, just in case of surprises that may arise.
  • Consider a farm area in which the purchase price plus expenses will give you a comfortable margin of profit.

Performance 

  • City improvements are good indicators that people are moving into the area, or are staying.
  • Renovating a home in a more desirable school district is more appealing than homes that are not.
  • Get a feel of what type of homes in the area of a particular style are selling.

I would really love input and feedback of this post.

Post: Wholesaling - Earnest Money Deposit (EMD)

Kyle SimmonsPosted
  • Real Estate Agent
  • Alexandria, VA
  • Posts 6
  • Votes 0

Thanks for all the replies! It really helps.

Post: Wholesaling - Earnest Money Deposit (EMD)

Kyle SimmonsPosted
  • Real Estate Agent
  • Alexandria, VA
  • Posts 6
  • Votes 0

Thanks!

Post: Wholesaling - Earnest Money Deposit (EMD)

Kyle SimmonsPosted
  • Real Estate Agent
  • Alexandria, VA
  • Posts 6
  • Votes 0

I have a question(s) regarding EMD:

How much should I ask for from a potential buyer? (I heard that 1% - 2% of the purchase price is ideal).

Where does the earnest money go, when all is said and done?

Post: Beginner Hard Money Lender

Kyle SimmonsPosted
  • Real Estate Agent
  • Alexandria, VA
  • Posts 6
  • Votes 0

I have went to a couple of seminars in my area, and spoke to a couple of different real estate investors that have their own companies, also I am attending a REI Meeting coming up this month. Most of these people are rehabbers, they aren't really HMLs.

Post: Beginner Hard Money Lender

Kyle SimmonsPosted
  • Real Estate Agent
  • Alexandria, VA
  • Posts 6
  • Votes 0

Hello,

I am new to the real estate world, and want to learn more about becoming a hard money lender. I am pretty sure that I want to take this route other than the other areas of real estate. I am the process of learning the most that I can, and I need a few tips from other HMLs on how I can learn more about the business.