All Forum Posts by: Thomas Breedlove

Hi I'm a Real Estate Investor and Agent down in Jacksonville NC, but I have someone who is looking to learn about flipping specifically in the Baltimore area and I told him I would help with his search. He's a  Marine I used to serve with actually and has good financial health and an excellent work ethic. Also if I am posting this in the wrong section please let me know.

 I didn't think about going through a home improvement store for financing like that and I actually listed it about 45 days and put within the description I will replace the roof with any accepted offer.

HELP!!! I have a loan maturing in February and I'm out of money for the Flip because it went on way longer than it should have and the last thing that is needed is a roof estimated at about $8800. I got this fix and flip around October of last year and the contractor I had hired was always behind and lying to me about actually being at the property and fixing things up. I was in the Military recently EASed, but while I was in it was hard for me to check on the project with my schedule. Well now I'm coming towards the end of the loan and obviously roofers don't want to do work where someone doesn't have the money and I have asked if they would accept me paying them out of closing and they said no. So I dont really know where to go from here. I just got my license and I know a bank won't refinance or loan me money because I just got started and don't have stable income. Any advice or help would be very much appreciated!

Hey Daniel I am licensed and would be more than happy to help you try and find a rental here in Jacksonville. Just as a warning though for rentals here you need act fast!

So I bought a house a couple months ago that I am renting out currently. I want to transfer it into the company name and refinance because I bought it at 102.5 and it got appraised at 132.5 immediately after purchase (it was a VA foreclosure). My question is what happens when I refinances? Do I get that money from the refinance and what happens to monthly payments when someone refinances?

Thank You BP community for your advice also PM me your advice if that's more comfortable for you.

Thomas Breedlove

So I just got approved from Realty Shares that they will fund 90% of any project I bring them and they approve of. My question is what are people's experiences with these and what is the best way to properly use the financing from someone like Realty Shares. They already said they will give me a proof of funds letter and that I will be receiving around 8-12% interest mainly because i am a newbie with only a couple deals under my belt. Personal stories are more than welcome
Thank You BP Community!!!

-Thomas Breedlove

@Damion Anderson If financing is an issue think about maybe partnering with someone who already has established financing and has a proof of funds letter ready to go. That way the risk is split, but obviously profits are too, but the amount of education it'll give you will be amazing plus you can get into the game and not possibly lose out on a deal. Also remember try to get the deal first and worry about transferring it into the LLC later don't get analysis paralysis and hung up on one thing. Sometimes it's best to cut your losses and find ways to either do it better next time or make up those losses as you're moving along in the deal. I am currently in the process of moving a VA loan bought rental into my LLC.

I am also in the Jacksonville area if you want to connect and talk more

-Thomas Breedlove

So yesterday I was talking to another investor I'm trying to buy from and in our conversation I asked him if had every refinanced any of his properties to buy another and he told that he hadn't and that you never want to do that because at that point your spreading yourself thin. Any thoughts about this? I'm fairly new to this game with only three properties. Anything will help!

@Tony Hoong @Jenifer Levini @Meagan Barkley@Dave Toelkes Thank you very much for the information it was very helpful!