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Hi - I have spoken to two bankers. The first is with a major bank who was talking about a 20 year mortgage. The second, a local smaller bank, without an application and over the phone, mentioned a 7 year 'abundance ...
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Can someone help me understand the hard money lender process.
Theoretically say I found a house for 100k.
Lender pays for house + closing + rehab = 125k
So to keep the math easy I now have borrowed 125k f...
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I'm thinking about getting involved in real estate investing. I've been working as an engineer for the past 20 years and have built up about $325K in my 401K but I hate the idea of building this up until I retire and ...
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I have been racking my brain, and spinning my wheels with this hard money lender. After plopping down a $2K investment, I have submitted various deals to them. None so far have worked. I have been told that if I am ab...
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Just out of curiosity, when you bring a money partner into the situation, how much of the profit do you give them?
The scenario in question involves a $6MM property. It will be flipped, and the money partner will ne...
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I am starting a real estate investment business in Southeast Texas and would like to get investors interested in investing with us. I will start out rehabbing residential homes and work my way up from there. I am plan...
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Hey BP communityI am in the process of raising private money, I have been somewhat successful raising 20k between two lenders. The issue I run across is I have people able to lend 10-15K and not the amount that would ...
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So what are the cons/drawbacks of using OPM. My wife and I bought our first rental and are being persuaded strongly by some family members not to use OPM for additional rentals. They talk highly of Dave Ramesy. I loo...
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Hey all! My name is Mike and for the past few years I have been trying to buy my first property. Finally, in two weeks, I close on my first one. I house hacked a single family side by side that is in need of some cosm...
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Hello BP community, I am saving up for my first buy and hold property and I am trying to buy it in New York City(Specifically The Bronx and Queens) where I live. I am practicing analyzing deals using different inves...