All Forum Posts by: David Rice

Hello forums, I am new to real estate though have read a few books (including the UBG) and listened to the podcasts up to show 74.  Recently Ive found a partner who knows the hammer side and wants to partner with me since I'm wiling to do the paper side.  We want to flip since its within our skill set, the only problem is that neither of us have any extra money.  My plan is to talk with hard money lenders and ask them what they would need in a deal to offer 100% financing of purchase rehab and estimated holding costs, then go to local wholesalers and ask them to find a property that they can part with for those numbers in exchange for a percentage of the final after repair sale.  

my question is to those that have experience or knowledge; does this seem like a decent plan, are there any places that it could be improved, or is this a no go?

Thanks so much for sharing your wisdom

David Rice

Hey everybody.  I'm David Rice.  Ive been listening to the BP podcasts for a while and want to get in to the game.  I recently found a partner who is an artist at all things handyman.  We want to start rehabbing, me finding the deals and negotiating with wholesalers and lenders, Jason evaluating repair costs and screening our contractors.