All Forum Posts by: Chelsea Fehlauer

Is your lender wanting to fund other investors? I've talked to a few lenders that will do 90% but that's the most I've seen.

In my research I came across fundingforflipping.com. There's a promise of 0 down, no interest for 12 months or more, etc... for a LOC. I'm currently unmortgageable - self employed and just bought our own house with a standard FHA mortgage. Have minimal capital - so no hard money lenders. And all of my family has limited income. So I'm wondering if anyone has ever dealt with this company. I'm fine with paying a bit extra on interest or something for the first couple of projects until I'm able to meet other lenders' standards but I don't want to get roped into a scan. Any advice/ideas? Can't find much online.

Oh I wish you were up in NY!! I keep seeing deals left and right but have no funding! I have the construction and management skills just no cash.

I need to get our LLC set up (from what I read and re-read that's the way to go) but not sure if I should DIY it or go to an attorney (I understand they can be expensive??). Also, I've been told that you have to record annual minutes and designate your LLC into an S-corp within 75 days or it reverts back to a sole proprietorship. Anyone know anything about this??? I can't find anything online about this.

Christian Bors Jimmy C. For the property I have in mind 65% ARV may more than cover purchase, closing, & repairs. I need to go do a walk through with my guy for more accurate repair estimates. What I'm hoping is to find someone to give me the 65% ARV to do the project and then pay them back with their designated interest upon sale of the property. The asking price on this property is 1/3 of the As Is appraisal!

Marc Woodward awesome! Big relief!

What are the house specs? I may have a solution for you

Hi Chad, I would be very interested in hearing your terms and speaking with you regarding some opportunities in my area. Thx.

Would you consider investing in properties in NY? There's a huge market here and lots of amazing opportunities.

Fix it up & rent to own. Typically the people that want a rent to own have a good down payment but are business owners so the bank won't give them a mortgage. They'll take care of it like it's their own and typically pay more than retail value. If they take off you still have a good down payment. Check with your city building inspector before tearing down the garage. You'll probably need a permit depending on where you live.