All hard money lenders are not created equal and it is very much  a relationship and referral business. 

Just as the stock market must equalize, so shall everything else, and the bust comes much quicker when things are booming, friends.

Timing from my experience so far has been so crucial.  

. #2, not all markets are equal.

So, I'll post some words of wisdom to the newer or younger investors out there and end my post with some before and after pictures from my first 2 flips:Your network equals your net worth - Get out there and introduce yourself!

Marquell Jones also may I ask how you came up with $20 multiplying it by the sq ft to equal your repair cost?

I have an opportunity to JV with 3 other investors and I want to know how best to spread the risk and reward, fairly, while securing everyone’s stake by the real estate.We’re looking at a potential deal that looks like this:ARV: $400k-$425kMOA: $165k RB: $160kTarget net profit: $75kConstruction time: 6 monthsInvestor #1 has the acquisition funds.Investor #2 has the repair funds.Investor #3 is the General Contractor.Investor #4 (me) is the Project Manager & Listing Agent.If the GC and I waive our fees in exchange for an equal percentage of the net profit will that be fair?

Why is it that we say rents received from the property equals only 2% of the purchase price instead of multiplying the number of units in the property by the amount of average rents to determine the approximate amount of rents that will be received?

We got an FHA loan on it and since my wife is a realtor, we got 3% right back, so we put very minimal down.  3 of the 4 rents equal PITI so we'll live there for a year then move out.  

With margins tightening like that, thorough analysis of any prospective “deal” has become a lot more crucial than it seemed to be when the 1% rule still held in Stockton.