All Forum Posts by: Marquell Jones

looking for a 3/2 single family, small front yard and back (preferably), garage and most important an open kitchen floor plan.  In this order,  mccalla, Trussville, pelham,  irondale, Hoover.  The hard money would cover 100% of deal, if it's a good deal for them.  Do you have any suggestions on paying for rehab if any is needed? 

Looking for hard money lenders in Alabama with great rates and terms. Have a family member that has been pre-approved for 185k. So the plan is to get a good deal property that I can fix up and retail to him. Any ideas, comments or suggestions on the hard money lenders and about my cousin wanting to own by at least spring. Thanks.

There is a house in my local community area that has a for rent sign on the property. I went up to the property and saw that the tenant was being evicted. This was about two weeks ago that the notice was placed on his window at the property. My question is how should I pursue this landlord that is going through an eviction process and has a for rent sign? How would I negotiate me purchasing the property and Rehab in it and flipping it for income? And any type of suggestions on this house would be great. I'm not for certain but I would say that the house is at least a hundred and fifty thousand the way that it is and it's on the Main Street. Do I continue to let it sit in it becomes a hassle for him to have to pay the mortgage on it himself or do I just go ahead and try to make a proposal? Now keep in mind that I am new and I don't have any Capital my credit score is going up. But also is this something that I could do or say like a hard money loan and have that money to purchase the property and Rehab the property?

what about a 203k loan. I haven't gotten my 1st property either. And saving money is not as easy as people think, when u have responsibilities and a small Courier biz

if u have 2 different last names then it counts as separate 

u can have only one fha loan at a time

thanks Bryan 

@ bradi ard. Welcome to BP. I'm also new to the investing game. I started at the end of June and have been working my way toward my first property. I have a family member who is looking to buy a house this coming up winter. And I'm trying to locate a cheap house and a high neighborhood that needs a little bit of work. If you ever want to talk about it just message me. Hope to hear from you soon

@james. If they are doing 20% down on property, how is that any different from a big bank conventional loan? Besides them being in house. And how would I get money for a rehab if it's not rolled in the mortgage loan?

@Jeremy Pakalka so if I understand this correct.  A lender would say, there is a 5 point fee, which is a down payment of 5% of the total amount im borrowing. On top of that, there are the fees that I would pay on top of that?