Quick Fix & Flip Deals in Metro West

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Quick Fix & Flip Deals in Metro West

Joni Shehu
Developer · Boston, MA · Member since 2016 · 58 posts · 19 votes

Does anyone know people who may be interested in funding our deals just like the one below? 

Town: Wayland (All of our deals are in the Greater Boston Area of Massachusetts)

Building: 4,000+ SqFt Building 

Purchase Price: $615,000

Rehab: $75,000

     Total Cost: $690,000

ARV: $825,000

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  • Dan Gamache
    Lender · Boston, MA · Member since 2019 · 417 posts · 150 votes
    7y

    Joni,

    I'm right up the road in Lynnfield. My company can fund this type of flip. We do require 10% downpayment of total cost. Give me a call if you'd like to discuss. (617) 680-1635

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  • Joni Shehu
    OP
    Developer · Boston, MA · Member since 2016 · 58 posts · 19 votes
    7y

    Thanks @Dan Gamache! Just shot you an email. I live next to Lynnfield. Let's link up

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  • Dan Gamache
    Lender · Boston, MA · Member since 2019 · 417 posts · 150 votes
    7y

    Definitely, I'll reach out next week. My email is [email protected], haven't received anything from you yet.

    0Reply
  • Dan Gamache
    Lender · Boston, MA · Member since 2019 · 417 posts · 150 votes
    7y

    got it!

    0Reply
  • Joni Shehu
    OP
    Developer · Boston, MA · Member since 2016 · 58 posts · 19 votes
    7y

    Excellent. Wanted to update this by saying that we prefer private lenders who understand real estate investments (by being on BP, has you covered on the latter).

    Also, all of our projects are off-market deals and we never pay more than 70% of arv

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  • Stephanie P.Pro Member
    Washington, DC Mortgage Lender/Broker · Member since 2016 · 4k+ posts · 2k+ votes
    7y

    @Joni Shehu

    Looks like your cost is going to exceed 75% ARV. @Dan Gamache  What's Lima One's max ltv based on the ARV?

    We've got 100/100 (acquisition/rehab) money, but the LTV can't exceed 75% of the ARV.

    Stephanie

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  • Joni Shehu
    OP
    Developer · Boston, MA · Member since 2016 · 58 posts · 19 votes
    7y

    Hi @Stephanie P.. Yes, we made our ARV very conservative. We got a lender and we'll wait to see what the appraisal comes in at. Will keep you posted.

    Also PMd you if you're interested in financing our deals.

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