BRRR in Indianapolis and Memphis Lender Needed

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BRRR in Indianapolis and Memphis Lender Needed

James B.Pro Member
Investor · Monterey Area, CA · Member since 2011 · 150 posts · 81 votes

We own SFR's in both the wonderful Indy and Memphis markets, and have been operating there for a couple of years with great property managers.

In 2018 I want to change my strategy to the BRRR method and am looking for a lender that does this strategy.

We'd Buy and rehab with cash- tenant it ad then need to cash out refi.

Please PM me and I'd love to chat- thanks!

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Clay Manship
Indianapolis, IN · Member since 2013 · 549 posts · 310 votes
8y

Hi @James B....I've been known to lend some money on Indy properties when the deal makes sense...feel free to reach out if you'd like.

Best of luck!

2Reply
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  • Simmy AhluwaliaPro Member
    Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
    8y

    Hi James, we can up to a 70% cash-out/refinance with 30 days of title seasoning, which will basically cover your acquisition and rehab duration - [email protected]

    1Reply
  • Patrick Bingham Jr.
    Real Estate Broker · Memphis, TN · Member since 2017 · 21 posts · 12 votes
    8y
    Good morning James, I work with many out of town clients that use the same method to buy. I will email you some lenders they have used.
    0Reply
  • Alex Brant
    Investor · Indianapolis, IN · Member since 2016 · 23 posts · 14 votes
    8y
    Originally posted by @Simmy Ahluwalia:

    Hi James, we can up to a 70% cash-out/refinance with 30 days of title seasoning, which will basically cover your acquisition and rehab duration - [email protected]

     Hey Simmy, I'm also in the Indianapolis Market. What are typical rates if over a 700 FICO? Do you lend on appraised value or purchase cost? Term and amounts?

    0Reply
  • Alex Brant
    Investor · Indianapolis, IN · Member since 2016 · 23 posts · 14 votes
    8y
    Originally posted by @James B.:

    We own SFR's in both the wonderful Indy and Memphis markets, and have been operating there for a couple of years with great property managers.

    In 2018 I want to change my strategy to the BRRR method and am looking for a lender that does this strategy.

    We'd Buy and rehab with cash- tenant it ad then need to cash out refi.

    Please PM me and I'd love to chat- thanks!

     Hey James, could you either PM me or reply back the property management company you use? I'm also in the Indianapolis market. Much thanks!

    0Reply
  • James B.Pro Member
    OP
    Investor · Monterey Area, CA · Member since 2011 · 150 posts · 81 votes
    8y

    Thank you @Simmy Ahluwalia

    I will PM you to discuss

    0Reply
  • James B.Pro Member
    OP
    Investor · Monterey Area, CA · Member since 2011 · 150 posts · 81 votes
    8y

    Hello @Patrick Bingham Jr.

    I've PM'd you thanks

    0Reply
  • James B.Pro Member
    OP
    Investor · Monterey Area, CA · Member since 2011 · 150 posts · 81 votes
    8y

    @Alex Brant

    Sure, we use A Step Ahead Management and USI Property Management.

    Both have been great- really proactive and communicative! Let me know if you need contact info.

    1Reply
  • Alex Brant
    Investor · Indianapolis, IN · Member since 2016 · 23 posts · 14 votes
    8y
    Originally posted by @James B.:

    @Alex Brant

    Sure, we use A Step Ahead Management and USI Property Management.

    Both have been great- really proactive and communicative! Let me know if you need contact info.

     Awesome! I've actually done some business with AStepAhead. Good team. Found USI on Google. Thanks!

    1Reply
  • Simmy AhluwaliaPro Member
    Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
    8y

    Just emailed you Alex....

    1Reply
  • James B.Pro Member
    OP
    Investor · Monterey Area, CA · Member since 2011 · 150 posts · 81 votes
    8y

    @Alex Brant

    Ask for Rod Shelton at USI

    1Reply
  • Clay Manship
    Indianapolis, IN · Member since 2013 · 549 posts · 310 votes
    8y

    Hi @James B....I've been known to lend some money on Indy properties when the deal makes sense...feel free to reach out if you'd like.

    Best of luck!

    2Reply
  • James B.Pro Member
    OP
    Investor · Monterey Area, CA · Member since 2011 · 150 posts · 81 votes
    8y

    Hi @Clay Manship

    I sent a pm to your brother, I believe,

    @evanmanship 

    0Reply
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