All Forum Posts by: Lucy Balyan

Hi All, here are more pics toward foundation repairs; I know I took a big risk here for a first time flipper, out of state JV but its coming along even in the rain. Before this property, I was offered some really cheap ones with fire damage/mold and a bunch of other things for alot less than $34K like $5000K in some city I have never been to or know of and farther than Texas with lots of snow in the fall like Ohio or Michigan but when I talked to other investors locally, they said anything less than $30K not worth it!

just ordered the paperback version so my husband can read it too! 

@Gregory Gadson

Hi, I attended the Renatus 2 hour seminar in North CA last night. I also tried to listen to today's 9 to 5 live presentation. Too much info! The presenters are truly investors themselves. They show some creative ways to borrow money or to payoff debt using credit lines but their disclaimer is to see your cpa and/or lawyer. Everyon is different. They do share their secrets in how you can buy RE using credit lines to pay down your mortgage off in 7 to 10 years. Lots of cool info. I tried getting heloc from my large bank, However I was denied due to my income. if you can't get the credit lines for some reason from your bank then they have resources for that, even their own cpa you can use for a fee. The essentials classes are  $2000, & if you add the advanced like fish & flip, multifamily, is another $6k. Or marketing the program is $125 for some commissions on people u bring to sign up. 

@David faulkner

OK got it. I can't afford CA RE for flips & can't move permanently to TX or anywhere else (I would if I was single but how do others invest with JV out of state)? I do attend local RE clubs & listen to webinars, read books. San Antonio is mostly sunny & hot in spring & summer. This spring was just bad luck. Other option for me is wholesaling in CA (need buyers & sellers) or lending my money for better returns in CA which I do. If I flipped home alone in CA, I would probably lose money making mistakes in rehabbing & hiring contractors, etc. I don't mind doing JV where I fund deals for share of net profits. I pray & hope it's just time & nothing else for my project. When it's done, I will post photos.

@David Faulkner - I know investing locally is much better as you can visit property & see daily what's going on & be able to help when needed. I am a newbie flipper with limited budget of $75k. I invested remotely but via JV with another investor who is also wholesaler & realtor in San Antinio who has bought & rehabbed 50 properties himself. I know its very very hard to trust people but if local is not possible then you suggest I move to the city where I invest, wise for a short term rehab but if it's more than a few weeks because rain is delaying foundation repairs on my flip. I go there to do what? Watch the rain? We still have roof & interior/exterior to do. It was suppose to be 45 to 60 day flip turned into much longer than expected due to rain, storms.

I wish now I never trusted to buy in texas because of rain. Will never do again!

@chad Clanton- good to know!

@ayodeji kuponiyi - thanks see photos of my home. Rain putting green delays on rehab completion by 6 weeks!

@zack lofton - hi, see photos of my home, doesn't allow me to post here.

@nathan Alton _ read my replies.

If you buy just the house for $150k, I would give you the $100k to rehab it in exchange for 30% of net profits. I would need to meet you & we both sign a contract. Where is colum IA, MO? Montana?