All Forum Posts by: Mat Deveaney

Ok, so I am brand new to REI, but just accomplished something ridiculous!!!! Today, I went on Zillow and saw a listing for a sweet double wide. And that's all! Haha if you read this hopefully you got a good laugh! Have a great day!

Justin Kovach thanks! I actually am a sales rep for RLC bats which is located in Saxonburg. Small world! Thanks to all for the advice!

Charlie DiLisio Jd Martin Mindy Jensen thank you for the thoughts. It means a lot to get the informative responses. It is nice to bounce my thoughts off of veteran people and get a rebound.

Kathie Riedel I would most likely use the real estate as the collateral. Are there any notes that you can submit to let them know that you will definitely refi at some point. That will be a male selling point, that I will use their money for purchase, rehab and down payment on refi. How could that be written up and with in what entity?

Jon Burns awesome response thanks. I need that step by step. Rock on!

Thanks Tom. A lot of good info. Means a lot for you to take the time!

Would you say you basically prepare for the worst expectations when analyzing and then hope for the best? Do you over budget? (In addition to a contingency)

Thank you guys for the info. The easy part of real estate is the grand scheme and idea of it all. But the little nooks and crannies of each little thing are the parts legally scare me! Thanks again!

Ok so my next question would be, what horror stories are their with flips gone bad? Looking back on what happened, was the issue unforeseen? Or are most horror stories because of bad planning on the rehabber?

Do I need a lawyer to set up private lending? If I have someone who will lend me an amount do I just get a personal check? What types of return percentages are the norm for private lending? These might seem like dumb questions, but I would just be nervous to handle other people's money without knowing the legality of it.