All Forum Posts by: Pablo Hernandez

@Wenda Wang

Thank you. I’ll definitely look into that.

@Kayla Scordo

Hi. I’m not a seasoned flipper by any sense of the word. I actually started with my first flip on December and currently working on my third. But your post got my attention do to the fact that those are pretty much exactly the same numbers I do with my current investor/hard money. I also have a construction company and yes it’s extremely challenging but in my humble opinion worth every headache…… I mean second.

I would definitely take on that challenge if I were you guys. I’m guessing the 100k and 6 months rehab is worst case? Maybe you can budget a little more and increase the profit. I would Also look for a relative or a friend that’s a realtor we all have a realtor in the family I’m sure lol. Maybe instead of paying 3% on each side you can get a 2% heck maybe even a 1.2% although that’s really pushing it.

But honestly even how you described the deal and with an estimated 40k profit you’re already ahead of me. My profits thus far have been, 24k on the first deal 28k on the second and projecting closer to 35k on this one.

Also quick tip. Again my opinion, don’t stress too much about market crash and what not. If that were the case I wouldn’t have started. There’s always a million “reasons” why it’s never the time to flip.

In any case. I wish you guys the best of luck.

Hi everyone, I’m pretty new to house flipping I’ve only done 2 flips. I would really like to get in to multiple flips at once rather than buy one fix it listed sale it get my investment and profit and start looking for the next flip. I currently use an investor sort of hard money I would say. I normally put 20% of the purchase of the property he puts in the rest plus I also pay for the rehab. I was wondering if there’s a more creative way to finance multiple projects at once? I would be able to pay the monthly payments for multiple projects but the 20% plus rehab for multiple projects would be impossible out of pocket. Thank you

Thank you i really appreciate all the input. It helps a lot just having someone tell you its possible and offer any kind of help. It's defenetly overwhelming specially for someone with 0 buying and flipping experience. Not knowing with what obstacle I'll be hit with next, and the more research i do, speaking to hard money lenders, online reading, and videos just to name a few the further it sort of feels of actually getting a flip done all because of the out of pocket money. I know its basically the most important part. The lender I've spoken to i found here on BP I've also spoken to a couple more I've found online. The investor that's putting the 30-40% is a good friend of mine. I guess I'll talk to him see if he can stretch the loan a little more for the closing cost. Also talk to the hml and see if the rehab money is up front or like you guys mentioned which i had no idea, given afterwards or after completing some of the rehab out of pocket. Maybe the fact that i'll be saving a lot of money on rehab since I'll be doing all the work between me and my dad who like i mentioned is a contractor, maybe my friend wont mind putting up the rest. I know these are all rookie and inexperience moves, but gotta start somewhere when your funds are as limited as mines are. Once again thank you guys. I really do appreciate all the info. 

Thank you for the reply. Sorry I just have so much I want to ask that I guess I rant more than anything else. I get that the hard money lender will only lend on a deal that makes sense, I guess what im asking is fast fowarding to the somewhat obvious steps, finding the house getting it under contract, having the 20-30% "show" money. How much will my out of pocket expenses be more or less? Sorry for this quick rant I'm about to do I just want to sort of explain the "show" money part. I spoke to the hard money lender and I was told that they lend 75% ARV. So as long as the purchase of the house and the rehab cost are less than the 75% they are covering, that my 20-30% was just for them to see I actually do have some capital. But I'm concerned about all the steps before the actual closing and the closing. Getting it appraised, inspections, insurance, closing cost and so on.

Hi everyone I'd like to start by apologizing if this gets a little long but I'll defenetly deeply apreciate any comments and inputs you can give.....

I'm extremely new to real estate investing so new that i have yet to purchase my first propert to flip. I've been doing a lot of research online specially here, BiggerPockets is insanely packed with all sorts of wonderful information. But from you guys that have actually done closings here is my question (finally).... How much out of pocket money would i need to purcahse lets say a $200k property? I sort of have a hard money lender that told me as long as i can "show" that i have 20 or 30 % of the value and of course the deal has to make since, that they will loan 75% on the ARV so saying that i get the property plus the rehab cost still while still under their 75% meaning no money out of my pocket for the actual loan and rehab. What are the actual cost that are inevitable coming out of my pocket. I have a friend thats whilling to put in the "show and tell" money
 (20-30%) which like they told me as long as the house with the rehab cost stays under the 75% arv they are loaning my friends 20-30 dont get touched hance "show and tell" money. But i know that theres appreiser fee, insurance fee, closing fee i belive thats out of pocket right? And im guessing a few more fees I'm missing. Please any information will help me I'm looking at some properties and dont want to realize i couldn't do it at the last minute. Sorry for the long article/question. 

Thank you all in advance.