All Forum Posts by: Rebecca Smith

Sounds good, thank you! I’ll talk to my husband and figure out a time that works for us. 

Thanks Zach! I look forward to continuing the research on it;  seems like a good potential option for my husband and me. Let me know what you think the next best steps take would be to determine whether or not it's a fit for our goals. Thank you! 

Has anyone gone with this company- Rent to Retirement- to invest in real estate ? If so, how was the experience and are you getting the returns anticipated? Is this a good route for someone who is more risk averse? What is the down side? Thanks! 

Thank you all for the thorough responses! I really appreciate it! Yes, as some of you observed this project was a big too big for the first one. We didn’t end up putting an offer in on it for many of the reasons you mentioned above. Your insight is invaluable as I continue my search! Thanks so much!! 

Thank you all for the feedback! I appreciate it! So what percentage of lenders would actually fund 100% of the cost, rehab and closing costs for a new flipper with a solid financial position? I was able to obtain a proof of funding from a lender, but we decided to pass on putting an offer on it.

I’m trying to get myself set up for future success on the right property. In the case of this scenario, are individuals paying back the interest only monthly payments out of their own reserves, another loan, or the borrowed amount? It would have been over 3k a month for this particular property.

Alternately, what are your thoughts on using a HELOC to fund a down payment and rehab, instead of a cash purchase from a hard or private money lender?

I'm new to investing and have my eye on a great property; however I need the purchase and renovation budget to be covered by a hard or private lender. Offer deadline is Tuesday. How much do you recommend I borrow for my first flip considering the situation? List price is 290k, ARV is 456k if we add 500square feet (which is very possible). Looking to spend 100k in reno. Do I finance all of it, or just the down payment, 6 months of carrying costs and closing costs?