All Forum Posts by: Nicole Pettis

Great Job @Brett Iwanowicz ! Good to see you are doing an amazing job!

Hi @Alexis Zion off hand I haven't heard of any, but I will keep my ears open.

Also, just wanted to let you know the Milwaukee BP community meets every month on the last Saturday of the month at Stone Creek Coffee at 422 N 5th St @ 9am, so maybe you can meet someone there that would know as well.

Have a great week!

Great Job @Luis Montanez ! 

well said @Yvonne Sheehan ! You are completely correct. Make all these sacrifices now when you can, so in the future you can enjoy your hard, diligent work. 

I, myself, realized a few weeks ago I needed to be more aggressive. I need to network more, reach out to more people. Really give it everything I got to build this business. So that is what I am honing in on for this year. I'm giving it everything I got and then some. 

Your post came at the right time!! Keep doing what you are doing!

Great job!

@Patrick Britton it can be very difficult. It has taken me a little over a year to find a partner that has the same sense of urgency and drive as I do and that has the money as well. Also, you have to figure out what you have to offer them. How can you benefit them? What can you bring to the table if you don't have money or experience?

And as @Jay Hinrichs has said, competition is tough right now, at least in my area it is. For every house that we have put a bid on, there are at least 4-5 other offers. So its hard to get a flip currently. 

I'm not saying it can't be done, I am just saying that its a lot of work to find the right partner and then the property. There are hard money lenders, but you have to bring cash to the table with them as well. 

Good luck!

Nicole

@Account Closed sure! Its your money. You are using the equity in your house for a line of credit. No different than a credit card. Not sure about credit union rules, but again find it odd that she would say that. I would just move forward to a different bank. 

hello!  My brother got back to me & said no it wasn't illegal. That he's had many clients use their HELOCS for investment properties. So I would do a little more digging on why she said that & if they are still giving you the  run around I would move on to another bank. 

Hi @Account Closed my guess is if you had just went in there to apply for a HELOC and not mentioned how you were going to use it, you would have been fine, because once they give you that line of credit it is yours to use however you wish.

So I do find it kind of odd, that she would mention that it would be illegal to use it for business stuff. Because I know plenty of people that have used theirs to put down payments on rental properties.

My brother is a mortgage broker, so I emailed him to make sure that my information is correct and once he gets back to me, I will let you know. But I am sure many others will chime in and help you out.

Hi @Lorenzo Jackson I am guessing that you are looking for a form or template of some sort for the scope of work? If so, if you sign up with JScott's site 123flip.com he will send you those kind of forms for free. Hope this helps!

So we have found a location! Yay!! Hudson Business Lounge at 310 E. Buffalo St. Milwaukee, WI 53202. Everyone will be meeting in the Cafe.