All Forum Posts by: Jamiah James

Aloma Yiannett I see your point. Most hard money lenders will require to have some kind of skin (your money) in the game. I think this is a bit of a break from what I've been hearing. And like Jeremy Coyle said it is hard enough that I have not done my first deal yet but if I can secure the $2500 i think it would be a great first deal. Since I don't have good credit it looks lol I have some asking to do. I appreciate you both for responding with feedback!

I have a very good deal I think. I've been working with a realtor and an appraiser about this property here in Florida. It's a 3 bed 2 bath, about 1400 square feet. Built in 1959 and the list price is 67500. Comps in the area show similar homes built close to that 1959 and they sold this year. Nice neighborhood and close to a community college, a park, and many other places and amenities. I estimated the rehab to be 12k-18k for some cosmetic and flooring issues. The realtor that I'm working with sent me the HUD inspection report and everything seems fine. I set an appointment to look at the property this Friday. As far as funding I don't have much money so I decided to go with a hard money lender but, he offered me a deal. I bring the DD fees (underwriting, processing, and appraisal) which is about $2500 then we can split the profit of the home. The ARV is estimated at $120k if rehabbed correctly. I don't necessarily have $2500 either. Is there anything I can do to get the money? Does this sound like a good deal? Looking for feedback please and thanks. I think it would make a great first deal! Looking forward to reading your advice!

I'm not sure if it has equity or not. Is there a way to find out for sure? the home that is being preserved is foreclosed on. I went and looked around then outside and saw then Lenders info and got the number. 

so here it is in a nutshell. In the subdivision where i currently live, there are two homes that are vacant. from what the neighbors told me, both homes were abandoned due to couples who went through a divorce. both are very nice two-story homes and are in pretty great shape. maybe a few cosmetic issues here and there. one of the houses is being maintained by a company who is only mowing the grass and trimming hedges. is there a anywhere i should start? I think i could really get one if not both to finally get in the game. If i can act on these homes now i could very well be in pursuit of closing my first one or two deals. looking for advice and a little bit of lead way! thanks guys! 

congratulations on getting a deal done. you may not have made a nice profit but, like you said the experience was well worth it! i really appreciate your candor and your outlook on being an REI. great read.

This is a great post! thanks for sharing! looking forward to learning from all  of the seasoned investors here on BP. and I cant wait to share my first success story with all of you!

Hello all! My name is Jamiah James and I am a brand new investor from Deland Florida. I have not done my first deal yet but, i am looking to take action very soon. i heard about the bigger pockets community and decided that this would be a great place to start after hearing so many great things from the BP podcast! Fixing and flipping is something that i dream of doing, and i look to get into it full time. I'm here to soak up all the knowledge possible and build great relationships. I am hungry to see my dreams come to reality. right now i feel like that it is worth more than my sleep! Im looking to growing and sharing experiences with you all!