All Forum Posts by: Aaron Leger

Hello Biggerpockets. Just about to finish my second flip and want to start buying some multi units. I’ve been looking at Vermont and New Hampshire as my likely candidates (live in mass) and I was wondering what peoples experiences and thought on Vermont investing are. Yes, I’m aware it’s small and an agrarian economy. No, I don’t want apartments in Worcester or Boston lol. Okay go!!!  

Anyone have any information on Joseph Chillemi from Newton MA and/or the Private Money Exchange? About to take a 10% loan for finishing my flip off for about 100k and wanted to see if anyone had any experience before I sign my life away. Thanks!

Hello everyone,

I own a home that I intend to flip (yes, OWN). It is gutted and half way through frame and ready for foundation work. About out of cash, 110k to complete (parts and labor). Make about 55k a year after taxes, but 1099 and haven’t been doing it long enough for conventional loan. Options? Isn’t there something like a cash out? Help! Contractors all quoted and lined up just need money!

The place is 300k and does cash flow and has room for rent increases of at least 25%. I would owner occupy it, preferably, not sure if that helps or hurts me? I have nothing to put down as I’m still working on flip 2. 

Hi all,

Currently working on flip #2 and renting a cheap apartment. Working towards buying multi families. Should have some decent cash after flip 2 (250k). Working a 1099 day job and doing okay. Was wondering what some loan options are that would be okay with my 1099 job W/O 2 years tax returns. Some decent places in my price range and geographic range and it kills me to watch them come and go. Wanna get into something while I finish my flip. I won the flip house out right, and though I need about 100k to finish, it’s all debt free. Advice please :)

Hello all, 

I live in central Massachusetts and am currently flipping my second house in a pretty well off town. It’s been a hellish project, but when it’s done I’ll have somewhere around 150-200k depending on market conditions and no debt and great credit. I’ve been looking to invest somewhere in the three northern NE states; Maine, Vermont, NH. Any advice on these 3 states? Massachusetts is becoming prohibitively expensive and the tenant laws are a bit less strict up north, especially in NH. I’ve been thinking about more rural investments and avoiding the obvious investor spots (Portland ME, Portsmouth NH, Burlington VT). Any thoughts?

thanks for the response! I was doing it full time, no longer as some engineering issues popped up that are taking months to resolve (shortage of engineers + sfh vs commerciaL jobs = I’m not the only engineer who I could get to take the jobs priority lol) so yes, once I’m back on track (hopefully in another month or two, my plans are almost done) I can finish up a few things (I have the cash to complete all structural work but then I’m done) I’m hoping to sell the place gutted and structurally sound so that’s it’s ready for the “easy”’stuff. If not, it’ll be a lot more financeable when it’s all re-engineered and sound.. I hope! 

Thanks!

Hello all,

Before I begin, no, I didn’t search the entire website for the answer to this question, so please be patient with me instead of getting hot and bothered that I didn’t research every possible post before posting (a common Reddit phenomenon)!

I have done one live in flip (how fun) and am now renting a veryyyy cheap apartment while I flip house number 2 (foundation problems, reframing, engineering.. even more fun). I have excellent credit and the equity in the other flip (about 140k). I am sick of not having a passive income generating property! What are my options here for financing? Can I get approved for a NINJA loan just off of the income of a property? How do I get approved without major income? Would my asset (current flip house) count? I don’t want sketchy sign in blood 14% interest loans either. Is anything available to me at all? (I’m aware of networking and owner financing, hasn’t happened yet lol).