All Forum Posts by: Eric Blanchard

Hey BP! I'm going to be killing time at a coffee shop in Eugene today, 3-5pm or so. I'd love to meet any of the bp crowd in the area, share tips, tricks, stories etc.

Jason,

I've used Whitman Construction & Design, they did a good job. If you're still looking, pm me and I'll get you his email.

I have the money from my last deal with you to put to work. Pm me details if you're still looking.

I'm up for another meetup - enjoyed the first one.

@Mike L. Welcome! Lots of good advice here, one thing I found from my short experience is that an experienced mentor is invaluable. I found one here on BP (a local realtor who also actively flips), but meetup groups, re clubs, etc. are also good places. & be sure they know you already have put some cash aside, that you're not just another broke noob. (Before anyone gets offended, I'm barely out of that stage myself).

Welcome Steve! Be sure to scan the forums for investing local vs. out of state, lots of good info. No right or wrong way, but I was surprised to run across reasons that a buy and hold in an expensive market could still make financial sense.

My current HML didn't even ask about reserves - just looked at the property and said how much he'd be willing to loan. I had zero experience, but was working with someone the HML knew and trusted.

He's not a big institutional HML, just a guy who got tired of tenants and started doing loans several decades ago. If you find this kind of lender, the terms tend to be easier, I.e. @Onan Dumas 's "uncle".

Thanks for sharing @Christina R. . We hear from lots of people trying to get started, so it's always encouraging to hear a success story. Keep up the good work!

My two cents, you probably already know this:

Time to crunch numbers, see if the purchase price still makes sense now that you know what needs doing. A general contractor can get you a dollar estimate based on the inspector's report.

Big question, does it still meet your goals when all is said and done? Back out if you have a reason, but remember, fear is not a reason.

My boss knows, but he's a general contractor and I've noticed that people in that profession tend to have a favorable view of investing in RE. My coworker always asks about my project.