All Forum Posts by: Shanna Zeiset

Yes of course Jeff S. No looking to take advantage of. I simply was looking for some guidance on how we can structure the whole thing. He approached my husband and myself about a year ago and said he knows we flip and wanted to make a good ROI but we weren't quite ready at that point since we were in the middle of another project. He's no dummy and neither am I, I just have not dealt with private money situations before and I don't believe he has either, which is why I wanted to bring as much info to him as I could find, hence the question. Sounds like we'll just have to figure it out together and It sounds like a lawyer will be necessary any way you shake it. Thanks for the advise!

Oh interesting. Thanks all for your responses! I'd like to look into lending options. I actually have a small amount of retirement savings myself so any lending contacts would be great. I also have a small amount of home equity from house hacking my own house. It will be a start, but won't quite get me to my flip without someone else's help financially. Just trying to get creative and sound like I know what I'm talking about. Fun stuff this real estate investing business...

Thanks Jeremy. Very true. I just had a disappointing situation where I found a deal that was snatched up by another investor before I was able to secure financing for it. It was a little frustrating because I could have moved much more quickly with a partner/financing already in place, so I'm hoping to avoid that in the future by connecting with people that at least are open to the possibility and understand the business already rather than trying to explain the investment to all my friends in the hopes that they take out a HELOC or something. Not to mention, I'd prefer to work with someone I'm not too attached to already so I don't mess with any personal relationships. It's slow going, but I'm done just dreaming about flipping. I'm doing it, hell or high water.

Can anyone give any tips on how to find an equity partner in the Lancaster, pa area? I have done a flip with a partnership before and well let's just say I learned the hard way to not do it with family if possible. I'm am looking to visit the Lancaster pa Reia soon to meet some people. Any advise would be great! Thanks BP peeps!

I'm about to pitch to a friend (who actually pitched to me awhile ago, so I know he's interested) about financing flips with his money through private money lending. I basically need to know how to even talk to him about it. I need to know what a normal private lending rate is(Lancaster, Pennsylvania) and how to structure a contract including deed in lieu of sale and so forth. I understand the basics of hard money and annualized interest payments. Is it similar to that? Thoughts/suggestions from some people that have do business with private money investors would be very much appreciated. I don't want to be taken advantage of or vice versa. Thanks in advance for the tips and advice!

I asked mine if he had ever worked with investors before or have personally invested themselves.. If the answer is no, it might be a tough road for you just starting out. I would need at least that. Describe what you want to be doing and if you get a lot of resistance, find someone else. FYI, don't sign anything committing to them before you feel comfortable with them. Good luck!

Hey Lisa! I'm not sure about the answer to your question, but I'm a woman/ investor in Lancaster, PA and would love to come to your group! Would you be able let me know when and where you ladies meet? Thanks!

Shanna