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All Forum Posts by: Shawn Munoz

Shawn Munoz has started 21 posts and replied 39 times.

Post: Best ways to fund rehabbing and flipping

Shawn MunozPosted
  • Vineland, NJ
  • Posts 42
  • Votes 6
Originally posted by @Brent Coombs:

@Shawn Munoz, I wasn't suggesting you sell your beloved home; just borrow more against it upon its re-appraisal after it's "worth way more". Cheers...

 ohhh okay. sorry lol. thats very smart. Thank you

Post: Best ways to fund rehabbing and flipping

Shawn MunozPosted
  • Vineland, NJ
  • Posts 42
  • Votes 6
Originally posted by @Federico Gutierrez:

Are you talking about funding the down-payment or the costs of the rehab?


The costs of the rehab can be done on a Credit Card. I did it that way, got one of those fancy 0% Interest for 12months and the highest limit I could get. That is one way.

For funding the down-payment, do you have a friend that could "gift" you the money. That would require some seasoning 60days, or you could bring them on as a silent partner.  I gave you those examples as thats the ones I would feel comfortable with.

 I was thinking i will save up the down payment. It seems like a good idea to get a credit card to fund the rehab. I just don't know how much i will  be approved for. Thanks for the advice. 

Post: Best ways to fund rehabbing and flipping

Shawn MunozPosted
  • Vineland, NJ
  • Posts 42
  • Votes 6
Originally posted by @Brent Coombs:

@Shawn Munoz, keep reading and learning here. You first need to know HOW to find "deals" that are worth wholesaling OR rehabbing to flip. Did you get a "deal" for your own home? Perhaps start with that one. If it can be appraised 6 months after purchase for 40% more than you OWE, you should be able to re-borrow another ~15% of it's value. In the meantime, keep SAVING, so together with the refi, you will have the necessary 25% deposit to buy another investment home. Look up "BRRRR" here on BP, as a buy-to-hold strategy.

Wholesaling and Flipping are JOBS. How long can you keep calling favors in?

 yes, i got a great deal on my house. Also, thank you for the advice. I have been reading but you are right. I want to know how to find deals that are worth flipping. My home was listed for 89,900. We got it for 72,500. I am updating the kitchen and other little things but it'll be worth way more when i am done. The only hard part will be convincing my lady to sell quickly since she wants to stay there long term. Thats why I'm looking to invest else where. You know?

Post: Best ways to fund rehabbing and flipping

Shawn MunozPosted
  • Vineland, NJ
  • Posts 42
  • Votes 6

I am reading up on wholesaling and i feel as though It is something i have to study much more before i try and apply it and make my first whole sale deal. I think that i will be better off fixing a house and selling it. I am currently moving into my first home but looking for property to invest in. What are some ways to fund a flip? also ways around paying 20% down if i plan on flipping the house. I will only have to pay for material costs and very little labor since i have a team of great people willing to help with the rehab. What do you guys suggest? 

Post: Freedom Mentors

Shawn MunozPosted
  • Vineland, NJ
  • Posts 42
  • Votes 6
Originally posted by @Ryan Thayer:

I spoke to a man by the name of Travis yesterday from freedom mentor.  The program sounds great and I cant find anything bad on the program but what im having trouble with is giving them $10,000 up front and $200 a month.  I was told to call my credit card companies and get them to up my limit.  I just dont feel I need to max my credit cards out for a program that I feel I can learn with help from people on here and doing my homework.  This might be a great way for some people to get into real estate but the money aspect is way over my budget.  

 Hey i just spoke to some one from freedom mentor and they only asked me for 1,000 down. I think they change the amount depending on income. That isn't assuring. I am still considering this because they do offer a money back guarantee 

Post: Hoping to get started in investing

Shawn MunozPosted
  • Vineland, NJ
  • Posts 42
  • Votes 6

@Brian Zabowski great idea. I always considered investing in a multi family. If you aren't planning to live in it and it is strictly for renting out you have to put 20% down am i right? This was my problem because i am currently moving into my first home. Thanks for your advice man. It really got me thinking

Post: Hoping to get started in investing

Shawn MunozPosted
  • Vineland, NJ
  • Posts 42
  • Votes 6

@Jeff Robert Thanks man. I will definitely sit down and check out the podcasts. 

Post: Buying an investment property

Shawn MunozPosted
  • Vineland, NJ
  • Posts 42
  • Votes 6

I dont understand something. If some one wants to quickly get started in real estate and you have to have 20% down payment to acquire an investment property, How do people go about doing this? is it only possible to begin REI if you have money already? If not, what are some other strategies to get started with rentals or even flips.

Thank you for your time!

Post: Hoping to get started in investing

Shawn MunozPosted
  • Vineland, NJ
  • Posts 42
  • Votes 6

Hey, I am currently about to move into my first home. I recently got into a job that i don't like but i have to keep it to pay for the house. I have always considered investing in real estate but never committed because of the risk. I read and watch a lot of videos but I still don't know the best approach. I want to do this full time and I se offers about "financial freedom". I don't know where to start. I am hoping to network and learn from everyone. Any advice or comments is appreciated. Thank you!