All Forum Posts by: Matt Good

Paul, I like it! I'm about to enter into a similar situation with a dear friend of mine putting up the cash. We were wondering how I'd pay him back after the rehab so purchase price + rehab. I THOUGHT that you could pull either a mortgage or a HELOC (up to 80% of the equity correct?) out that's good to know! You gotta wait six months huh? He'll loan me the cash, I'll buy the property, my name on the deed goes to an attorney for a DIL amongst the three of us, rehab, reasses, bank sees me as having 100% equity since the DIL is private, I pull a mortgage/HELOC, pay him back and ta-da!

Haha terrific insight thank you Justin! ProSchools is sounding more and more like a good choice

Thank you again Randy and thank you Jay!

Randy, I'll see how she feels about the commute to the 24th & NE Sandy location. How often is a Real Estate Agent actually at their desk/office?

Jay, we'll check out Keller Williams and Knipe for sure that sounds great! What do you mean by "override program?"

Do you need a CCB license to flip houses in Oregon? My partner and I would like to form an LLC ... Will this be required of at least one of us?

Thank you Randy! Couple of questions... By class you mean in person in Portland? That and find a brokerage BEFORE paying for the schooling?

We live in Oregon. My girlfriend is interested in becoming a Real Estate Agent and has heard good things about ProSchools. Supposedly, they're "the best" for online in Oregon. Thoughts?

That's what I thought thank you!

I'm trying to figure out how the borrower was able to pay his friend the investor back upon completion of the rehab. He didn't sell it either. Or flip it I should say.

Hello!

I'm just trying to understand this...

I've heard a couple of stories regarding an investor loaning a dear friend cash to buy a distressed property including rehab funds. The investors friend; the borrower, cash in hand then dealt a deed in lieu of foreclosure through an attorney with the seller. The borrower was not only able to pay his friend the investor back right away, but take out a HELOC as the deal was not public therefore the lender saw him as having full equity.

I'm missing some important pieces to the puzzle so please help me out!

What if I had to pay him back right away?