All Forum Posts by: Patrick Wilson

I found a Hard Money lender, but haven't contacted them yet do to the fact I don't want to sound dumb and very new. Can I get some advice on what questions to ask? How to approach them? Would it be ok to ask If I can defer the 1,000 dollar fee tell closing or ask if they require a monthly payment (it doesn't say it in there)

Thanks!!!!

Here is what they have for a program for fix and flips

Investor
Fix & Flip

No Qualifying
No Income
No Assets
No Points
No Prepayment Penalty
12% – 18% Interest Only*
6 Month Term
(Extension Provisions Available)
Up to 80% Loan to Cost
$1,000 Flat Fee

* APR 18.93% assuming
loan size of $250,000

Thanks J Scott for your advice!!!

The money is coming from a hard money lender, nothing from us...so how do I figure out the percentage I get verse what she gets? Is it who puts in more time on deal, who s contractors were using, who's agent were going to use, how do I figure this all out?

I have a good friend that wants to do this real estate investing flip strategy with me how do I form a partnership with her? Whats the best way?

Thanks

I am wondering if this is what I have to do to make this investing work...

I got my financing in order, I have a real estate agent, I know where I want to buy "farm area", I know my criteria for what I want to buy, I got my team of contractors i want to  work with, now do I just let my agent find a deal and if the numbers look good GO FOR IT?? I have a full time job will I have to hire a property manager to over look things when I am away? I still need quite a bit of education in this area of flipping real estate such as lingo and the process but how do I know if i am ready?? Can some one give me some advice. Thanks

Patrick

Than Merrill's workshop is coming to AZ and I am wondering if it s even worth it to check out. Has anyone gone through his course? what do you think

Thanks Jon!!

I found a private investing group, haven't called them cause I want to sound somewhat educated on this subject when I do. I am so new to this, if I can get some people to explain to me what this means down below, I pulled it right from their site. Can you go through what each item means and tell me if I will have to pay a monthly fee also. here it is...

No Qualifying
No Income
No Assets
No Points
No Prepayment Penalty
12% – 18% Interest Only*
6 Month Term
(Extension Provisions Available)
Up to 80% Loan to Cost    ....how do I figure that out?....
$1,000 Flat Fee

* APR 18.93% assuming
loan size of $250,000

Thanks

Patrick