All Forum Posts by: Trevor Aydelott

So I just purchased a home in Colorado and I'm trying to accomplish the BRRRR strategy.

I had a couple lenders lined up. But decided to go with Quicken Loans as they were possibly a cheaper interest rate. 

They told me they had to run my credit before telling me the exact interest rate. Which I get. 

But now basically saying they cannot do it. Really this is ticking me off because it has nothing to do with my credit, DTI, or anything like that.

Is anyone else having problems like this? 

Hello @Manaia Alalamua   I was wondering if you found someone? 

Also thanks @Tracy Streich I sent him a DM on Instagram. 

I'm looking for a property manager as well. 

Well @Brian Nguyen I'm a realtor, so I find deals on the MLS.

And I purchased flips from auction. 

But now I'm working with wholesalers and getting off market deals. Just the trick with them is you have to check the numbers, just because they are off market doesn't mean they are better deals you can get else where. 

Whoops those are banks I did recommend. lol

Yup @Paul Ellington those are two banks I would've recommended. And so true, I'm tired of hearing people say you can't do this or that. Like go find out for yourself. A lot of these people have not looked into it or turned away from the first no they heard. 

Well @Stefan D. tag me in a few days. As he called me today and will follow up with me either tomorrow or Saturday. And I will fill you in. 

Hey @Brian Nguyen I do deals with investors here in the High Desert and have a few properties as well here. I do fix and flips as well. So it can be done. Depending on what you're looking for. 

I recently switched to buying buy and holds in other states. 

So it all depends on what your short term and long term goals are. 

Well @Stefan D. I'm doing the delayed financing currently on a property I just purchased. So I will let you know how that goes. 

-And hey cannot beat a property coming under budget and being rented. Good job on that. 

-Thankfully this pandemic will not last that much longer in terms of being on full lock down. 

So how will the lender or ( attorney, escrow officer, title) know the difference. For example I have a bid and looks like an invoice to me. Now it did become an invoice because I hired the person. 

And the difference in the two that I can find is a bid is an inquiry on services and pricing. And an invoice is someone you hire to do the job, they just haven't done it yet ( mainly because you got to own the home first) Correct? 

Also how do you leave the money in escrow? Or how do you pay them? 

Like @Chris Mason said. It has to be your cash for delayed financing. 

The one thing now that you got all this information is now figure out how you get REHAB costs put onto the HUD1 

This is my next goal as I'm doing a delayed financing right now. So hopefully my next deal I can figure it out.