All Forum Posts by: Nikki Howard

Welcome to BP Trae!

Thanks @anilsamuel!

Hi Everyone,

Can someone recommend a reasonable hard money or private lender to help me with a fix and flip project that I am working on in Virginia? I recently got my first flip under contract for $65k and it needs about $10-13k in rehab work. ARV is $120k. Anyone know of a lender who can help?!

Thanks! 

Hi Guys,

I have a client who is trying to sell her trailer in Amherst, VA. I usually don't dabble with the trailer/double wide situations, but I really would like to help her out and I look at it as a learning curve for myself. Is there even a market for trailers? What can I do to help her out? What do you experienced investors think about this? What would you do if it were you?

Thanks again BP!

Hi Everyone! 

For the past year I have been wholesaling in Virginia. I have a house under contract now in Sandston that I would like fix and flip. This would be my first fix and flip project that I am taking on by myself. Where do I began?! I've had 3 contractors come out and 1 realtor to take a look at the property. I think I know which contractor I would like to use. Now what?! The area is not a high income area, so do I have to use top of the line appliances and materials? I want to get the most return for my money. What other material would you suggest I use for the countertops, thats not as expensive as granite? Any help that anyone can provide on what I should do next is grratly appreciated!

Thanks!

@Joseph Zanazan Thank you so much for all of that information! The seller still owes Wells Fargo 63k on the house. We have a contract for 65k. My buyer is willing to pay 75k for the house. My contract does allow me to assign the contract. So the next step that I need to take is to have my buyer get a preapproval letter from a reputable institute abd then do I send that to my title company along with my contracts from the buyer and seller??? I'm sorry for the confusion,  this is my first time running into this ans us a learning process for me.

Thanks Everyone for your help! 

Hi Everyone! 

Has anyone ever wholesaled or rehabbed properties in Sandston, VA before? How is the market?

Thanks for responding Ben,

how would I go about assigning through conventional financing? Can I still use my assignment contract, that I would a cash buyer? My seller doesn't mind, he just really wants his cut. Does the seller still walk away with a check after closing?

Hi Haider,

Try Apex Title, Heritage Title Virginia, and/or Safe Harbor Title. Ms Linda at Apex is awesome and very knowledgable. Good Luck!

Hey Guys,

I have a 1,145 sqft 2bedroom, 1bath property that I put under contract to wholesale in Sandston,VA. I have been marketing this property and recently found a buyer who is very interested. He is a contractor and wants to design and do all of the work to the property himself. The only thing that concerns me is that he is not a cash buyer. He states that he has excellent credit and can put down a down payment on the property. Should I make his down payment be my assignment fee? Can you assign a contract to someone who is using bank financing? Does the seller still walk away with a check after closing? How does the title company write in my assignment fee? How does all of this work? Any insight on this issue would be greatly appreciated!

Thanks,

Nikki