All Forum Posts by: Raymell Woods

@Patsy Waldron

I have been told t attend one of those meeting. I am going to later this month. Thank you for your advice!

Hi..I bought my residence from the local landbank. I paid 2k for the property, put under 25k (of my own money) into the rehab and now its appraised at 90k. I would like to repeat this, but this time sale the property. Ive already seen 2 properties that I am interested in. One is HUD and the other is a foreclosure. At most I would pay maybe 25k-35k for one of the properties. Rehab would roughly be 25k at most just for cosmetic work. The homes are around the corner from each other and the comps are pretty much the same 85-98k. But that's what the average asking cost is without any recent updates to the house. Thing is I need a hard money lender to help. I am aware of the points, and am able to pay the monthly interest as most lenders ask. This is my first time. How can I get this started? I'm in the Cleveland Ohio area...Thanks!

Hello. I am interested in doing a buy and flip. This will be my first time ever doing anything like this as an investor. I purchased my residential property for 2k did renovations that totaled a little under 25k and its now worth 90k. I figure if I can do it once, I can do it again and make some money. I have a government job but poor credit. I am looking to see if I qualify for a hard money loan with no upfront cost.  Problem is I cant find a reputable lender that will give enough to buy and repair, or one in which I don't have to pay money up front. Any suggestions?