All Forum Posts by: Sandy Cassidy

Just obtained my first SF (3/1.5) property contract!!  I have a pre approval from Wells Fargo plus a hard money lender. I think I want to finance thru hard money during the Reno and then refinance.
My agent has submitted the offer in my name and stated financing is Wells. I think it can still be changed. 
If I use HM then I can use my LLC. HM loans up to 70% LTV, interest only which sounds good to me (2/3 points). 🤷‍♀️
But since this is all new to me, I’m wonder if I should just goes conventional with 15% down. (25k plus closing costs) I’ll have to use my own $ (probably credit) for repairs and updates. Depending on the level of updates will cost 5-15k. 
I’m excited and nervous but don’t want to screw this up financially. I plan on using this as a rental. 
many advice or words of encouragement would be appreciated. 

@Jaron Walling

Thanks for the encouragement

I've been looking at properties and trying to analyze them via calculators for flip, BRRR and rentals like crazy but they never come out as making a profit even though on the surface some look really good, others look like seller is too greedy. What am I doing wrong? Also, when using this site, is there more info available when using a laptop than the phone? I don't find the app helpful and I'm not finding it easy to access videos or other info. I am a pro member. I need to watch more videos on using the calculators apparently. I'm driving my realtor crazy.. lol

Me and my friend have agreed to purchase a property for 38k with about 25k in renovations. The ARV is 95k. But we want to BRRR, this property and keep it as a long term rental: possibly Sec 8.
Any suggestions on where we can find a hard money lender in SC? We had a lead but they want properties with larger amounts of equity. Help!! We are new at this.