All Forum Posts by: Cam Schwartz

Hey @Cee Wright, I would also recommend speaking with @Jonathan Klemm who runs a group that is highly experienced in renovating/remodeling in the Chicago area.

Of course! Feel free to share the best email via DM and I'll send over right away.

Hi @Simone Nicholas. We have a very simple proprietary profit/cost calculator for fix and flips. See below example deal and associated data points.

Happy to share a copy!

Hey @Jeroh Odafe, we have a proprietary BRRRR calculator and I've assessed the contemplated transaction with our tool. See below output with a few thoughts:

- Would need a few more data points to be precise (rehab estimate, duration estimate, property taxes, insurance, utilities, HOA, maintenance, etc.).

- Assuming a 12% HML with a 3% origination fee held for 4 months, with a 30-year cash out refinance at 70% LTV and 7% interest rate, where the property stabilizes two months after refinancing (6 months after purchasing), you would (i) nearly breakeven on the cash out refinance and would generate $455 in monthly net cash flow in year 1, increasing annually, assuming you rent for $7,000 in year 1 and increase rent 4% YoY.

- See below and let me know if you would like me to send you a copy.

Great analysis @Akshay Bhaskaran and congrats on the find and execution.

Go get the next one!

Hi Brandon. Jonathan Klemm might be able to help.

He runs Quality Builders, a tech-enabled GC business in Chicago with proprietary technology including tracking and estimating rehab costs.

Hi Irving, an investor in my network is currently house hacking a 3-4-unit in EGP. I have been to the property and neighborhood and can confirm there is a fair amount of investment activity taking place. Investment in this area tends to be block-by-block so as @Paul De Luca mentioned, it's worth driving through and assessing prior to making any investment decisions.

Thanks @Jonathan Klemm.

@Jordan Ryan, will echo what others have shared which is that 7% and 1-2 points is fairly market on DSCR loans at this time. As others have also noted, DSCR loans are separate from rehab loans which are often structured as hard money loans bundled with the upfront purchase.

We fund both hard money for the purchase + rehab as well as long-term DSCR loans for the cash out refinance in BRRRR projects. Happy to be helpful with both if you're comparing rates.

@Jesse Conrad Feel free to DM your email and I'll send you a copy - which also goes for any others interested in the tool. 

Hi Kalin, interesting project.

We offer ground up construction for traditional projects and hard money bridge loans for existing manufactured homes though unfortunately, not yet construction for manufactured homes.

No groups in my immediate network come to mind but I would expect PMLs being open to take this down.

Let me know if we can be helpful with any other projects!