Recommendations for HML and Contractors in Rochester, NY?

Recommendations for HML and Contractors in Rochester, NY?

Developer · Rochester, NY · Member since 2023 · 5 posts · 1 vote

Hey all! 

I'm 22 y.o. with experience in STR's and getting started with multifamily rental investing in Rochester, NY. I was hoping to get some recommendations for low money down hard money lenders and reliable contractors in the area. Anyone would be greatly appreciated!

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  • Investor · Rochester, NY · Member since 2016 · 576 posts · 358 votes
    2y

    Cam, I've worked with many contractors in Rochester. Who to recommend really depends on the specifics of the job. What's the extent of the work? Are you looking at a $20,000 job or $200,000? What's involved: plumbing? Heating? Roofing? etc. More info might help me point you in the right direction.

  • Real Estate Agent · Rochester, NY · Member since 2020 · 148 posts · 28 votes
    2y

    Hey, I have a few recommendations for both. Feel free to reach out to me!

  • Developer · Rochester, NY · Member since 2023 · 5 posts · 1 vote
    2y
    Quote from @Carini Rochester:

    Cam, I've worked with many contractors in Rochester. Who to recommend really depends on the specifics of the job. What's the extent of the work? Are you looking at a $20,000 job or $200,000? What's involved: plumbing? Heating? Roofing? etc. More info might help me point you in the right direction.

    Thanks for the response, I am looking at between a $20,000 and $50,000 job, it would be very helpful to have plumbing, heating, and electric. Appreciate it!

  • Developer · Rochester, NY · Member since 2023 · 5 posts · 1 vote
    2y
    Quote from @Preston Garcia:

    Hey, I have a few recommendations for both. Feel free to reach out to me!


     Reached out.

  • Investor · Salt Lake City, UT · Member since 2019 · 339 posts · 126 votes
    2y

    Downpayments vary. Here are how most work:

    • Rates: 9% to 13% (Most Deals are 11-12%)
    • Terms: up to 36 Months (Most Deals are 6-12 months)
    • Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))
    • Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)
    • Max Loan: 65%-70% of After Repair Value(ARV)
    • 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)
    • Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)
    • NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.
    • We have lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VA, WA, WV, WI, WY.
  • Investor · Rochester, NY · Member since 2015 · 499 posts · 169 votes
    2y

    Hey Cam text me I got a few people to call

  • Finger Lakes, NY · Member since 2018 · 18 posts · 15 votes
    2y

    Highly recommend Lucky Duck Services, find them on Facebook. Owner is a master electrician by trade for the city of rochester. He just started a general contracting business last year.  

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