All Forum Posts by: Dewey Golub

Starting a new high-end residential spec project.  There are some good options for lenders in our market however I would love to know if there is a lender that you have used that you love.  We have a local credit union at 1% origination and 7.25% rate, plenty of good locals at a point and prime plus one, and some good local private lenders.  Does anyone have a bank that loves new construction spec, makes it easy, and has good terms?  Land is $1m, build is $1.5m and sales value is $3.5m. Thanks!

All, I just came across this thread and thought I would put in my two cents. I know Cody from GoBundance and I've known him for a few years, great guy. I got interested in his program about a year ago and got involved about six months ago and currently have one deal under contract with him. The deal I have under contract was a slightly complicated one and Cody, David, Scott and Jessica were constantly available to help me get it done. It took about a month of constant negotiation and some very helpful role-play with these guys to satisfy the seller andovercome some of the Seller's objections.  We were able to negotiate 75 acres of a 95 acre parcel and leave the Seller the hard corner and 20 acres to get this deal done. I have worked in residential real estate for 20 years full-time I have done a good bit of commercial work as well and without having Cody and David on my team I never would've been able to lock down this deal. They are going to take it from here and see it through entitlement to sell the parcel to a national homebuilder.  I found great value in the course and I am finding tremendous value in working as a part of their field team. Happy to chat with anybody that ever has any questions.

Hi Ken, I used 20% to purchase the property the rest was private lender and then $5k out of pocket for cost over run. 

Investment Info:

Single-family residence fix & flip investment in Ladson.

Purchase price: $115,000
Cash invested: $30,000
Sale price: $190,000

Was going to be a buy and hold brrr, the rental market was soft and market values high so pivoted to a flip. COVID knocked out the first buyer and stalled the second, finally sold in multiple offer a few months into COVID. Wild ride on this one. Went to a great family with the grandmother as the buyer who has her grandkids living with her. Lots of work, great ending.

@Lucas Rowell nice to meet you. My company has seen a surge in response from local Sellers and our pipeline is fairly healthy. We can connect directly to discuss what opportunities you would like to look at. Message me anytime . Best regards, Dewey.

Can multiple users use one deal machine app log in? 

I use Investor Pro currently and do not need all the extra functionality of Deal Machine, just looking for the people I have out and about to use the driving for dollars functionality.  Does anyone know if you can have multiple devices use one log in?  Or a better solution than Deal Machine?

Joe, 

Can you share the name of the site or bank that offers that deal?

Thanks.

Justin,

I have been buying, selling and prospecting for investments in Charleston for about a decade.  I'm happy to connect if there is anything I can do to help you or in case I find a Seller that we are not going to move forward with.  PM me if you want to chat.

Best,

Dewey

Forrest, I would also pick a primary focus of equity growth or cash flow (of course try to maximize both).  Brad had some great ideas on locations that I agree with.  In my experience, NChs will cash flow the best or have the higher cap rates, however, has seen much lower long-term equity growth in general over the last fifteen years compared to some of the nearby communities that do not cash flow as well.

John, good to see you on here.  

Mike Cipollla and Thomas Cox of Cipolla Cox are also top notch Charleston SC area estate attorneys.  They are affordable, with a deep staff, two locations, great customer service and an attention to detail.