All Forum Posts by: Sam Zdrum

Thank you all for your time and advice.
One question: "Secondary, my girlfriend does not own any properties and is willing to get contracted with these homes and then sell it to me after closing. Are we breaking any policies?"
I have no intentions of tricking or breaking the law. But wouldn't the scenario I provided be called a "flip" on her part?
thanks!

Hey BP family!

Please advice. I have a lake home to lease. I want to add a clause to the lease agreement to protect me from tenant, pet or their company if an accident occurs due to water.

How would I word it in the lease contract?

Thank you BP family!

Found a few HUD home I wanted in Georgia, however, as an investor, I have to wait 30 days before I can place a bid cause first 30 days is reserved for non-investors. These homes usually get contracted before I even get a chance to place a bid.
Any advice from BP?

Secondary, my girlfriend does not own any properties and is willing to get contracted with these homes and then sell it to me after closing. Are we breaking any policies? Any advice will be great

Thank you all for your time.

Welcome Ikenna! I'm a buy and hold inverstor for Norcross, Duluth and Carrollton. Bring me some deals and we can both win. Looking for 3/2 1983 and up. I prefer non-major rehabs. up to $100,000. Sam

Thanks Jon! That answers the missing link. From what I gather, using HML in this case will save me around $10g out of pocket versus the conventional 20 percent down. And I can close the loan faster with HML. Anymore pro or cons in using HML? Greatly appreciate your time!

Newbie here. I will greatly appreciate any advice or comment in regards to using Hard Money to purchase a fixer and hold.
Ideal Case: ARV $100g, purchase $50g, repair $20g with Hard Money lending of 70%. Close the deal, fix it and then do Rate and Term.
Question case: ARV $100g, purchase $60g, repair $20g with Hard Money lending of 70%. I'm short $10g to close the deal. My question is: Will the seller allow me to put in personnal funds of $10g or does the purchase have to come from a single source?
Thank you all for your time! I'm looking forward in doing my 1st Hard money deal!!