We are Hilary and Corey and are new to BiggerPockets as we are interested in beginning our real estate journey.

I am looking to use hard money for the purchase and my personal money for the reno.

Now, these outfits hire lots of influencers and affiliates, with no expertise, no financial background, and apparently limited ethics, to put it kindly.

@Frank Alfano agency debt is very competitive (75-80 ltv, non-recourse, fixed-rate etc); you can syndicate and raise the equity portion needed from friends and family, provided you can market and lead the project.

For many homeowners, particularly the elderly and those on fixed incomes, this cap can provide much-needed relief from what has been described as a “backdoor tax increase” due to rising property valuations [5].Long-Term Benefits and Potential DrawbacksWhile the immediate benefits for current homeowners are clear, there are several long-term implications and potential drawbacks to consider.

Congrats and good luck!!!!

If you are confident in the deal closing and if it's a good deal it could be worth the risk. 

I am brand new to wholesale and would like to know what you did to motivate your first prospect to trust you with the whosale strategy and process.

My guess would be that the Mortgagee would be first Leinholder and you would be second.

I always like recommending creating a short, mid and long term goal to help guide you.