All Forum Posts by: Rashad Roane

If I'm not mistaken you would have to pay for the rehab then get your money back in a draw if your gc wants the money up front. HML usually pay out in 4 draws with 25% completed work with each draw.

I was one of the many people that attended a montelongo seminar last summer, and I would have to admit it wasn't no where near worth the money that he charge for the information. I even jointed the master mentoring program thinking there will be more information that we were getting but we only for the same information that was previously taught. That whole thing was a scam. Up sells from one program to another. I've learned more on bigger pockets for free than I've learned from a very expensive seminar. I recommend this site over any seminar.

Welcome Ian! I'm also in the Richmond area and I've learned a lot here on BP. If you have any question don't hesitate to inbox me

@brianrhodes thanks for the reply and I did get in touch with Mr Kern. I was saying doing as a turnkey investment property.

Jon Holdman I understand. That same property could have sold for $70K easily. Our market ranked number 8 according to Inc 500 for SFR flipping but I see our buy and hold market as being much stronger than flipping but money to be made either way.

Jon Holdman I do understand that Mr. Holdman we have a very profitable market. I say cheap because a lot of the homes in some part of Richmond are selling for 20k to 40k range and brings in anywhere from 700-1200 dollars a month rent and do not require much work mainly a little TLC and some of these homes are being rehabbed and sold for 70k-100k easily avg DOM 109. Example my first time bidding on a property I lost to another investor I was new and didn't know what to bid, and I actually got a chance to talk to the investor who purchase the property Listed at $17,500 but Sold for 21,000.00 and the rent that he charges for the 4 bedroom is $1100 monthly. And he only replace the carpet, paint, and cleaned the appliances. Deals like this happening everyday in Richmond

Joe A Richmond, Va have a lot great opportunity for income producing properties at an affordable price. For 100k you can own 3 to 4 properties.

Bill Gulley thanks for the feedback i expected that. The "consultant" tried to make me feel stupid when I said i rather use a private money lender or hard money and said he never heard of private funding and he is in real estate.

Is using a business consultant to secure a loan for real estate investing a good idea?

Karen Margrave Okay thanks for the feedback. I am also wondering is 1% enough for an earnest money deposit