All Forum Posts by: Zachary Deal

As others have said Airbnb/VRBO can be great for MTR leads. Also, specific Facebook groups for traveling professionals/nurses, Craigslist and Zillow can have good leads

Typical ARV cap would be around 70% with a higher down payment (more skin in the game) required until you gain experience. As you complete more projects you will have lower down payment requirements (ARV dependent) .

Checking Facebook and going to local RE events (check Meetup.com and Eventbrite) are great ways to meet investors in your area

20% is likely more realistic for the first deal, especially in a competitive/high cost area like CA. Lenders typically reward experience so as you have exits (sell or refi into long term debt) you'll be able to work you way up to higher leverage (from 80% LTC to 90%+ LTC). 

Agreed with @Peter Mckernan try to go to local meetups to find local investors and wholesalers in Inglewood/LA market! Meetup.com & Eventbrite are great places to look for events

Hey Sean! Good luck with the first flip. Jax is great market. I would recommend trying some local Jax FB groups and check Meetup/Eventbrite for local RE meetups to connect with some local investors

Agreed with what others have been saying regarding renting the the entire unit. I think the single bathroom would be a big deterrent if you tried to do SRO. Good luck and hope the place rents quickly if it hasn't yet! 

Agreed with @Jorge Vazquez! 

Yes, as others have mentioned hard money financing would be the route you would want to go here. Once the project is complete you can refinance into a DSCR loan (BRRRR method) if you decide you want to keep it as a rental. You will need the property in rentable condition to qualify for long term debt

Agreed with this. The best advice I have for someone doing their first flip is to start small and build up to larger renovation budgets (even an experienced contractor). There is a lot more room for something to go wrong with property that requires $150,000 reno budget vs a $75,000 budget (or less)

 Agreed with Caleb! Return looks great for the flip so that seems like the best route if you have the funds