All Forum Posts by: Cam Schwartz
Cam Schwartz has started 8 posts and replied 92 times.
Post: seeking private lending and hard money lending
- Lender
- Chicago, IL
- Posts 94
- Votes 44
Quote from @Justin Mumm:
I am an investor in Reno, Nevada looking for a private landing and hard money lending
Hey Justin, what type of project(s) are you considering? Happy to help you think through the most suitable and cost-effective funding options.
Post: I need help using the BRRR Calculator
- Lender
- Chicago, IL
- Posts 94
- Votes 44
Quote from @Irma Leibas:
Hello!
I'm new to Bigger Pockets. I am a realtor in NW Indiana and seriously considering doing my first flip. Nervous as hell! One of my clients needs to sell her home in Gary, IN and I was just thinking if I should buy it myself. I was considering using the BRRR calculator but it seems pricy !
Hi @Irma Leibas, we have a proprietary BRRRR cash flow calculator I'm happy to share for free. Message me your best email!
Post: Seeking Private Lender
- Lender
- Chicago, IL
- Posts 94
- Votes 44
Quote from @Jonathan Klemm:
Hi @Joy McQueary - Awesome to see you on the forums and taking action!
I've found the best place to meet private lenders is in person at meetups or different mastermind type of events.
How come you are looking in DC and Chicago? I found it was easier to find what I was looking for when I narrowed my search as much as possible.
Chicago has a plethora of good properties, just make sure you have the right team set up!
Consider talking to @Cam Schwartz who is local to chicago and lending on the fix and flip side.
Thanks again Jonathan! @Joy McQueary and I have connected via PM and will discuss her goals to see how best we can be of help.
Post: 🚨 Seeking Hard Money Lender for Exciting Fix and Flip Opportunity! 🚨
- Lender
- Chicago, IL
- Posts 94
- Votes 44
Quote from @Jonathan Klemm:
Hey @Gene May - Try connecting with @Cam Schwartz, he is local to Chicago and is a hard money lender.
I always suggest partnering with a local lender because they know the market and are doing their own analysis, which is a really good double-checkyour deal. Out-of-state lenders won't know the Chicago neighborhoods as well, and I've seen more of those deals go astray than those with local lenders.
I saw that you are a lender yourself, is there a reason you are looing for outside funding?
Thanks @Jonathan Klemm!
@Gene May, left you a VM and sent an email.
[email protected]
Post: Looking for fix-and-flip (or rent) loans
- Lender
- Chicago, IL
- Posts 94
- Votes 44
Quote from @Jonathan Klemm:
Hey @Joy McQueary - Try connecting with @Cam Schwartz, he is local to Chicago and is a hard money lender.
I am personally a big fan of Chicago because of all the old multifamly properties and great real estate community that we have. We have buildings all over the city, but are not more focused on helping other investors with renovations instead of our own.
I always suggest partnering with a local lender because they know the market and are doing their own analysis, which is a really good double-checkyour deal. Out-of-state lenders won't also know the Chicago neighborhoods, and I've seen more of those deals go astray than those with local lenders.
Thanks Jonathan! Totally agree its great to have local lenders, contractors, agents etc. for projects rather than the contrary.
@Joy McQueary I sent you a note, look forward to connecting!
Post: Flip Lenders in NJ
- Lender
- Chicago, IL
- Posts 94
- Votes 44
Quote from @Jennifer Katherine De Loughy:
Quote from @Cam Schwartz:
Congrats on getting started @Jennifer Katherine De Loughy
We're active in NJ. Happy to chat more broadly and answer questions about flipping in general if we can be a helpful resource.
Hi, Cam. PM me your number and I'll call you tomorrow or Tuesday.
Post: Flip Lenders in NJ
- Lender
- Chicago, IL
- Posts 94
- Votes 44
Congrats on getting started @Jennifer Katherine De Loughy
We're active in NJ. Happy to chat more broadly and answer questions about flipping in general if we can be a helpful resource.
Post: Chicago rehab lenders?
- Lender
- Chicago, IL
- Posts 94
- Votes 44
Thanks @Jonathan Klemm!
@Henry Lazerow while experience level factors into pricing and leverage we don't require an established track record to fund. Let me know if we can be helpful!
Post: Any DSCR lenders you recommend
- Lender
- Chicago, IL
- Posts 94
- Votes 44
Thanks @Jonathan Klemm!
@Adriana McLaughlin, always happy to be a helpful resource.
Post: Fix & Flip Analysis Fundamentals
- Lender
- Chicago, IL
- Posts 94
- Votes 44
Hi @Ross Hayes, all great questions, can tell you're very diligent in your analyses.
You're understanding of estimating monthly payments is correct. Sales commissions tend to be 4-5% of the sale price, split between the buyers' and sellers' agents. Closing costs vary but are usually at least a few grand in addition to the origination fee which tends to vary between 1-3% of the loan amount.
We have a simple yet detailed fix and flip calculator (cash flow tool) that clearly accounts for all of the relevant costs and gives you a sense of net profit, ROI and total cost associated with each project. Happy to share a copy!
