All Forum Posts by: Matthew R Crawford

@Jon Holdman and @Nghi Le For the advice, we might have to relook our deal. The deal would be great if we can buy/hold like @Derrick E. said in our area. If we go that route we will have to figure out how to do that. 

@Derrick E. and @Timothy Doenges  

Unfortunately, we pay a pretty penny for a mentor before we found this site. We might add value to a few of you from what we learn so far. We would like to invest in that area too and see a lot more opportunities there but we aren't familiar with that area. I am not sure we can get our money back now but we can try. We are all about giving back. Whenever we get successful we would love to help those who are in our position right now and help others get started. Is definitely not easy on your own. We would LOVE to grab lunch, when are you available? 

By the way guys there is a real estate investment club at 6:00pm in Charleston at The Grill if any of you are interested. If you are going, we will see you there. 

It would be incredible if we ever find a mentor here in the area but I think for not we are pretty much on our own. 

@Anthony Hosea -This is Mandy I share this account with my husband since we only can get one PRO account. What you said is true, there is practically nothing here in West Virginia. Which can be a good thing once maybe clean energy companies start coming here. I occasionally hear these investors talk in the restaurant in Charleston from time to time but seems like they are old timers who were in the game for a long while. We were looking at houses at Nitro one day and there was a father teaching his son how to get with into this business. I can't help but feel a little envious because we wish we have that kind of hands-on experiences. For us, even though, we went to boot camps and have a mentor we work with it is costing us an arm and leg. Yes, we have a mentor but still, we got to figure most things ourselves. 

And yes Anthony, it is hard to find trustworthy, genuine people nowadays. Seems like people are just out there for themselves and in no way shape or form care for others, as long as people make money. We pay a few posts on Facebook asking questions and there are always people who said they are private lenders. We hear so many stories of scammers that we don't reply to them. Since we are starting, we have no idea who to go to or where to go but at least right now we have a few people in place. Now we just need to find funding. 

@Nghi Le We got the house for $75,000. ARV will is $125,000 to $130,000. Rebah is probably $30,000. In the area, 3 bedrooms and 2 bathrooms sell a lot higher than 3 bedrooms and 1 bath. It definitely adds value to the home if we add a bathroom to the house.

We are doing with "Love it and List it" program not sure if you heard it before. However, all their mentors seem to be the same people doesn't matter what real estate program we are in. I know BP is anti-seminar but without it, we don't know who are willing to help or guide us. 

@Derrick E. Oh yes it is. Huntington has some hot area too with all the foodie restaurants popping up around there. We would LOVE to do buy/hold but we will need to do a few flips have some cash to get rentals. And thank you. 

I am also thinking to take my deal to my REI club and see if anyone would like to partner with us.

Thank you, Greg and David, for your response. Yes, it has financing and inspection contingency. we will use private lenders for the majority of the purchase price and the rehab costs. We are actually learning this under a real estate program which our mentors said always find deals first and money will come. We will give a few calls tomorrow to see about lenders than or we get lucky someone will partner with us. Also, our mentors told us we should have our contractors look at the house first to get an estimate but what if the contractors themselves can't find all the issue.  Yes, I agree with you Greg definitely has an inspector check it out first. We know when the deal fails for the last investor was $85,000 so we lower it to $75,000 our maximum offer. 

Greeting everyone, 

We finally got a house under contract after many weeks of searching, marketing, and driving for dollars. However, we have a few questions since we are beginners in real estate. Now that we acquire a home we know we will need to find funds. If we can't cover the closing cost, do we go for a hard money lender? Or private lender?

This house was under contract once; however, after the inspection, the deal failed. Should we get two or three contractors to evaluate the property and hope they find the problem? Or have a home inspector look at the home before doing any work to the house?

This house is in a great area right in the centre of the city. It is a 1400sq ft home with three bedrooms and one bath. The ARV is $125,000 to $130,000 if fix up nicely. Should we go ahead to add another bathroom since the master bedroom is big enough to add one?

This is our first house to flip and would love everyone's opinions and experiences. Thank you so much for your time. 

Matthew & Mandy Crawford 

@Nathan Arnold Do you go to any real estate group here in Teays Valley or Charleston?