All Forum Posts by: Romica P.

This is awesome! Thanks!

Marc Stein,

What you've described above does sound like a good deal as long as you've done your due diligence. If you're absolutely sure that's how much it can sell for and that's the amount of repairs it will need then great. I would be a little more conservative with the numbers just to be on the safe side though.

Happy Birthday Brandon!

A contractor is a contractor and shouldn't get any profit unless you two are partners in my opinion. I would get out of this deal now and find another contractor!

They are definitely not the same but I have to say playing the lottery can be fun! If play responsibly of course :)

Great place to invest. I have buy and holds with a partner there as well and have worked on other projects there. Love it!

Andy M., I knew someone will bring this up :). I agree with you in that the main benefit would be the costs associated with HML. But aside from that I don't see the difference. I can see how it is more beneficial in the long run but if you are looking for short term cash flow then I am under the impression that using HML is okay.

Yulissa Candiotti and Phil Z- That makes sense. I will likely do a post of my progress after I do my first flip here and document my challenges and advantages.

I'm getting geared up to work on a new fix and flip project here in my local area in WA. I've done a couple of flips before out of state but we purchased the properties free and clear. Here, we would obviously be using hard money lending to finance the cost. I know that many flippers roll their profits over onto their next flip but what's the difference between keeping the profits and using HML again to finance another flip?

Would love to hear some different perspectives.

You can let him know that if he is interested in selling his property in the future you will buy it. If he changes his mind then he will contact you. I personally wouldn't contact him again or you'll sound pushy since he's made it clear to you that he is not interested at this point.

I've had investors contact me after 6 months with opportunities. You never know what can happen in the world of RE :)

All the best

Welcome Johanna,

As others have posted, the information you'll find here on BP as well as working with a mentor in which you will be able to provide value for (and vice versa) are the best ways to proceed.

In the end-rapport, value and most importantly, the ability and drive to produce results in this field will get you far. And you seem like you have the qualities and drive for it :)

All the best and as others have said, feel free to ask questions.