I spend all day sourcing deals now.

I don't like the idea of spending $100 a month to access the list, and then spend .12-.15 cents per skip trace.

Here are some common pitfalls I see for new investors from the private lending perspective:• Insufficient Funds: most lenders are going to be able to lend a first-time investor somewhere around 75-80% of the purchase price of an existing property + 100% of your estimated rehab budget (or an 80/100 loan, for short).

Our all in construction was $360k (If we had to do it again, we wouldn't spend the $10k to install the fence where we always do for our other investment properties.

What is not known is how much time and effort you spend to run this business as if you take the $85k and minus salary(ies) to run it, then what would it net gain you?

It's easier said than done, but decide what you're willing to spend and stick to it.

I recently completed a major renovation on my property financed through a Fannie Mae HomeStyle Renovation loan, and I'm now looking into options for removing Private Mortgage Insurance (PMI).

Have you looked into becoming a private money lender to put your money to work while you wait for your next purchase?

I am thinking of moving to Pricelabs soon as I am spending a lot of time tweaking rates almost daily.

You can send me a private message for more info