All Forum Posts by: Patrick McCandless

Is/has anyone taken this loan offer with intent to use as a replacement to hard or private money for fix and flips/BRRRR deals? Is that allowed?

Hey man congrats on getting started even if you're just starting your research. There is a ton of information here about wholesaling. Just use keyword searches to build your knowledgebase. I am actively looking for properties in Ames right now that fit the BRRRR method. Do your research on the formulas that BRRRR investors and flippers use to analyze deals so you know what to look for and then start reaching out to homeowners that might be in distress and need to sell. If you get a great deal locked down then you WILL find an investor to take it off your hands. Finding the deal is the hardest part. Contact me first if you come across one! lol

@Jon Engelman lets connect! I sent you a message a couple weeks ago.

Welcome @Keegan Burkholder! Definitely would love to connect at some point regarding wholesaling. I'm based in Paso Robles, but am up and down the coast for work all the time.

Thank you guys for the replies. I don't personally have the funds, but I have a family member who does and is interested in possibly lending. The first thing that came to mind was maybe starting off with a flip instead of BRRRR and letting the wife list it once completed as well as pay a finders fee in the beginning. That way they make a few grand to start by giving me a good deal and then make a few grand in the end to sell the property for me. I then come out with the experience and resources to do one on my own next time. Thoughts?

Hi all,

I'm trying to get started with BRRRR strategy out of state where I have a best friend who runs the property management side of a fairly large real estate operation. He has connected me (we haven't spoken yet) to a friend he grew up with who he knows flips homes with his wife and has done so quite successfully over the past few years. The wife is a real estate agent and she lists their homes once completed. I haven't done a flip or BRRRR deal yet and am trying to think of something I can give in return for some guidance from them and list of resources he currently uses or a way we can partner at least to get my feet wet. Would love to hear some suggestions from you all!

@Brandon Turner Replay link that was emailed to me is just taking me to the webinar vault. It's available until Friday night right? 

I hear you Jake. I personally haven't done anything in this area yet, but have worked alongside other investors/flippers here as a broker and they are definitely out there. From what I've seen, the numbers just don't make sense unless you find a rehab project at major discount or a different type of value-add opportunity. Always keeping eyes and ears peeled, but looking into out of state as well. What path are you looking to start with? Sounds like buy and hold?

Hi all, I've contacted a couple of banks/credit unions to get the ball rolling on a HELOC, but the two I have spoken with so far do not lend on manufactured homes. Can anyone point me to a company who will do a HELOC on a manufactured home located in California? Thanks!

Hi all, I have a family member who is wanting to work with me in BRRRR deals as an equity partner. She owns her primary residence free and clear which is worth roughly $300k. We are looking in the $150k-225k range all-in with purchase and rehab. My question is would she be able to get a HELOC for us to make this happen or would she be looking at a cash out refinance? Or is there a different strategy that might be better? Thanks in advance!