All Forum Posts by: Payman A.

Hi all,

I'm expecting to buy my first flip project in the next few months and am willing to travel and live in the properties at least until I clear some profits and learn a few lessons.  Also thinking about taking a general contractor's course.  Is the $10-15K budget range for combined purchase and rehab too low/risky? (Like you would find in Detroit or Cleveland). I'd probably go cash so what are some recommended markets and required budgets for best return and quick flip?  Appreciate thoughts and suggestions.

 Hi Sharon and thanks!  I knew about the seminar yesterday but I was on the 405 stuck in traffic...believe me I would have rather been at my desk checking out the webinar.  

 Thank you Favia.  Wish I had found this site earlier but better late than never right? 

 Hi Robert and thanks for the post/info.  I've contacted several "portfolio lenders" but they do not offer their product for investment properties.  Going to keep looking while this opportunity is still there and as also mentioned, going to look into my wife applying under her name only.  Debts are mostly in my name and luckily property is not in a community property state.

Hi Paul and thank you for the suggestion. I might have to consider converting to an LLC for the near future. Meantime, thinking of having my wife apply for the next loan (small amount) since the loans hurting our DTI are under my name only.

Just wanted to say "HI" and introduce myself.  I'm winding down my full time business and looking at getting more involved in real estate as a means to generate income, keep busy, and be productive.  I'm also ready to try living somewhere other than S.CA so an idea I'm working on is to possibly find good flips in areas I like and try live-in flips until I take a real liking to one of those areas (For example, I really like Flathead County in MT but am reading about some hate groups that are also liking the area!).  Anyway, hope to be a prodcutive member and looking forward to 'meeting' other members.  Good luck to us all!

Hi all. I'm a newbie and this is actually my first post. Very happy to have found this site and I anticipate learning and contributing a lot. Meantime, I thought I'd see what kind of response I'd get on a current subject. I am looking at a rental property with a 20%+ money on money ROI in the same area where I already have a duplex with similar returns. I am in the process of winding down my full time business so my DTI is far from current requirements but I would prefer to not go cash. I have very good credit and am wondering about private lending options. I'd appreciate any thoughts and suggestions.