All Forum Posts by: TJ Fries

Has anyone used the Backflip App to get a ballpark ARV and/or to estimate rehab costs? How accurate was it? I usually use its rehab price and then add 20% onto it.

Has anyone ever used a house staging company when reselling a fix and flip? I read that it can considerably help the resale value.  Thoughts? Has anyone who has used them had any success?

Currently seeking Hard Money Lenders for fix and flips that will be first position liens and that will also allow 2nd position liens.

Also seeking 2nd position lien GAP funders to cover closing costs and cash to close. 

I don't have any properties under contract at the moment, but I'm actively looking in the Columbus market.  I have a few I'm interested in, just looking to secure a financing network.

I've made a post about this before, but I might need to clarify. I'm looking for private lenders that do GAP funding. I have a HML lined up and need a GAP funder to cover the cash to close, as I don't have $10k, $15k, $20k, available to cover the cash to close.

While doing some research, I came across a concept for flipping houses called the Option to Buy, which I assume you're familiar with. Purchasing the property after leasing it. Through my research, it seems like an investor using this method would agree to say, 1 year lease. During this period, the renovations would take place and then the house would be relisted. All the while, the investor is making lease payments to the original seller. And after the house is fixed and sold (assuming it's sold in under 1 year from purchase), the investor would pay the original seller the remaining balance. Does this sound correct?

Does this sound like an option for a new investor (like myself) that has almost no/very limited funds to use?

The way it's working in my rather simple brain is this:

Figures:

Buy Price: $50,000

Rehab: $30,000

ARV: $150,000

Rent payments for 12 months + Rehab costs, funded by HML.

Have an agreement with a seller to purchase the property after a 1 year lease period.

In that year period, rehab takes 6 months, and another 6 months (hypothetically) for the house to sell. 

I make lease payments to the seller during the rehab and relisting period.

After the house sells, I pay the original seller the remaining balance of the purchase price after the lease payments are deducted from the original buy price.

I pay back the HML and keep the remaining profits.

I'm sure it's not that simple, but if I'm off on anything, I welcome any input about using this method as an investor to flip a house.  

I'm very new to the real estate game. I've been doing about a month of research on different methods; wholesaling, fix and flip, BRRRR, etc. I don't want to do anything with rentals with just starting out. But I would like to fix and flip, and wholesale. My current problem is that I don't really have a go to person for advice, or that I could really bombard with questions. I unfortunately cannot pay anything, which I know is a deal breaker for a lot of people. But, if there are any experienced investors who have had good success wholesaling and flipping, who would be willing to work with me, I'm very open!

I'm currently looking for individual private lenders (IRA, etc) to help me fund my flips. Currently in the Columbus, OH market, looking to possibly expand out to other states if things go well in Ohio.

I'm looking for private/HML lenders who will fund 100% of the purchase price and 100% rehab. I can cover closing/holding costs. I do not currently have an LLC, and I would prefer to not have to get one.

Hello everyone! I'm a new investor, haven't purchased a property yet, nor do I have a lot of funds to contribute to the deal.  What is everyone's opinion on the best lending/financing options for someone with my experience, or lack thereof? I've looked at hard money, but the down payment is always an issue.  I've toyed around with the idea of a getting a hard money loan, and using a 0% interest credit card cover the rest.  Any ideas? Thoughts? Input?