All Forum Posts by: May Baten

Awesome BP Community Leaders,

Thank you for your support, advice, and guidance thus far on our fledgling REI adventure.  We're at a point now where we're hustling for more money and are considering a hard money loan.  Found Stone Financing LLC, talked to someone from the company, and here's what they're offering:

100% financing 
5% interest
2 points

All seems too good to be true, so we're cautiously optimistic.  Before we get into bed with them, however, I thought we would lean on the BP community to see if anyone has ever worked with this company and what their experience was with them.

Or, if you've had really great experience with another company that offers competitive rates, please provide recommendations.

Or, if you know of any companies that are seeking to work with a female, veteran-owned business...please send them my way :)

Thank you!!

- May

@Gabe Viteri. Thank you, Gabe! We’re definitely lining up inspections after we turn on utilities. Appreciate your advice. We’re pretty new at this.

Just won a house on auction out in Memphis...anyone have any advice on some “first thing to look for/inspect” or know a good contractor in the area? Thank you!

@Wayne Brooks As a matter of fact, I am buying a 6-unit apartment building in Texas. Guess the “option money” gave it away. Lol.

All incredibly helpful. I get the picture. Thank y’all so much! Love this great BP community 😁

What’s the difference between earnest money and option money? From a buyer’s perspective, who do we send the option money to, when, and why?

It’s our first time buying a multi family property. It’s a small 6-unit apartment building. Our agent is asking for option money, but is unable to clearly explain what the heck it is. We’ve purchased single family homes twice and have never run into this. We know and understand Ernest money, but what’s option money?

Thank you!

@Greg Dickerson thank you!

I'm new to REI, active duty military member, looking to do my first live in rehab. My husband and I are on a low budget in the ridiculously expensive CA market. We're not very handy and don't have any renovations experience. We've been doing our research online and apps trying to price things out, but the quotes that we received from 2 contractors are already twice as expensive as our estimate.

I’m seeking recommendations on reasonable contractors in Vallejo, CA, or any advice on dealing with contractors would be greatly appreciated.

Additionally, any advice on keeping down costs on rehab/reno in general is also welcomed.

Thank you!!

I'm new to REI, active duty military member, looking to do my first live in rehab. My husband and I are on a low budget in the ridiculously expensive CA market. We're not very handy and don't have any renovations experience. We've been doing our research online and apps trying to price things out, but the quotes that we received from 2 contractors are already twice as expensive as our estimate.

I’m seeking recommendations on reasonable contractors in Vallejo, CA, or any advice on dealing with contractors would be greatly appreciated.

Additionally, any advice on keeping down costs on rehab/reno in general is also welcomed.

Thank you!