All Forum Posts by: Valerie Turner

Thanks Joe, that was very helpful!

Adam, I am just curious about what you mean by connecting to MLS for off market properties? I am an investor with a couple of rental properties and an agent. My husband and I want to start flipping and are trying to find off market properties. I have access to MLS but there are no off market properties listed there that I am aware of. Also, I may be wrong but it seems that most ethical agents would encourage sellers to list on MLS and not be telling investors about a property before it goes on the market. I'm sure this happens all the time but it seems questionable.

I just saw this post from May which is helpful. How do your find homeowners with Low Financial Stability Scores?

Does this program actually prospect for properties for you or do you do that yourself? I don't see the value in this unless they actually provide a way for you to obtain off market properties.  In this market with little to no inventory, I don't see how they could be of any use unless they had access to inventory that a new investor does not.  Providing funding is great but if you can't find a property it is useless.  Maybe I am missing something here?

Thanks Evan! I guess there is no way around putting in a financing contingency if I don't want to risk the deposit.  It just does not give me the same leverage as a full cash deal.  

I may be applying for a HML for the first time and I prefer not to put a financing contingency in an offer since that gives you less leverage but until the lender does the appraisal or site visit, you do not really know if you will get the loan or at satisfactory terms. Do any investors out there have advice about how to handle this situation?

Thank you for your replies. I know that, for example, sites like MyHouseDeals.com provide names of private individuals who loan money to investors but I would prefer to use someone that others have had experience with. That is a good suggestion to attend some REIA meetings and ask around. The few flippers I have talked to do not use hard money lenders. They have been able to finance their own deals. The terms offered by most hard money lenders who I have talked with are not ideal for newer flippers, especially in higher priced markets.

Can anyone provide names of reputable private lenders for fix and flips?  

Hi Frank, I tried to email you to inquire about private lending and the email address was not recognized. Can you tell me if you are still doing private loans?

How do you get access to wholesalers?