All Forum Posts by: Nicole Saunders

@Andrew Syrios what if I can't get refinanced out of my uncle's loan? If he's fronting the initial money, how do I go about being sure that I can get a loan down the road? To answer my own question :), I know I can't be sure. That's the part that worries me and I don't want to mess up anything with my uncle. What are your thoughts?

@John Leavelle I would say sooner is around 6 months to a year. His return seems to vary depending on the deal. My goal for now with REI is cash flow which will allow me to have more options down the road. I want to become as independent as possible. I've been working with a realtor to find flips, but have been unsuccessful at closing a deal due to the steep competition. Not everyone is building, so I thought since my costs will be much lower than most, perhaps that's the way to go.

@Rick Kniss.....your absolutely right, my dad's company can assist with the flip. However time wise and financially, building is about the same. We can build a new home in about 4 months and the costs to flip and rehab could be around the same as building. Thank you for your comments though, they have definitely given me more to think about.

Hello fellow investors,

I want to start investing. My financing is coming from my uncle who will be acting as my hard money lender. I want to BRRRR but I know that's not as much of an option, considering he's financing me at 100%, and will be wanting a return sooner rather than later. My next option is to build new homes in my area and then sell (my dad owns a construction company which works perfect, because he will be giving me much better pricing than if I was to work with another company). The problem is, I don’t want to spend a bunch of money on land. Building in the right areas of my city is where the profit will be, however, parcels of land big enough to build several houses on is very expensive. I keep going in circles, I feel, so any advice or shared experiences would be great for me right now! I don’t want to lock myself down to just one direction, but I also want to go in a direction where the funding is. I've also considered flipping houses, however, the inventory in my area leaves very little profit margin and the competition is super tough. 

Again any guidance would be much appreciated!

Thanks!

Nicole