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All Forum Posts by: James McGovern

James McGovern has started 361 posts and replied 1303 times.

Post: HELOC & Hard Money Combo for a Fast Flip?

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,376
  • Votes 336

Helix is the way to go. Hard money is typically not offered for property you live in

Post: Lowest cost for funding fix and flips?

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,376
  • Votes 336

@Chris Seveney my private money lender has encouraged me to share their information with other investors in Connecticut. I see no reason that benefits me in keeping this secret 

Post: Tenant will likely destroy your property prior to being evicted

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,376
  • Votes 336

Tenant will likely destroy your property prior to being evicted, what can a landlord do? They of course can take photos before and later sue the tenant in court for damages but might be unlikely to collect anything. So what some viable alternatives?

Post: Small Multifamily Deals

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,376
  • Votes 336

Visit loopnet.com

Post: Best Cities for High Cash Flow Multi-Family?

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,376
  • Votes 336

I recommend Hartford Connecticut and Pittsburgh 

Post: What Cap Rates Are You Targeting Right Now? 7%+ Still Realistic?

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,376
  • Votes 336

Do we dare ask the value of understanding cap rates and whether there are better measures to use?

My one question would be where can I find copies of all contracts and documents used by syndicators to study?

Post: Lowest cost for funding fix and flips?

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,376
  • Votes 336

In my travels, I have found that private money lenders who use their own capital to be significantly cheaper than hard money lenders. For private money I have consistently received 10% interest with one point in origination and no other fees whereas hard money always piles on additional fees ranging from fees for applications, documentation and so on all at least a thousand dollars 

I am curious if anyone had identified funding sources that are lower cost when compared to either private money lenders or hard money lenders such as Kiavi or Conventus?

Post: Bird dog in Connecticut

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,376
  • Votes 336

@Account Closed more than happy to look at whatever you find

Post: Seeking Labor-Only Crew for Active Project in DC/MD/VA

James McGovernPosted
  • Flipper/Rehabber
  • Bloomfield CT
  • Posts 1,376
  • Votes 336

If you need general labor post your requirements to Craigslist