All Forum Posts by: Jim Wellington

Too many variables to consider. Material type and quality. Scope of work being done etc. 

For example you can pick vinyl plank up at 1.75-5.00 per square foot. Most people will charge 2.00 per square foot to install(basic install). 

If the material is 2 then the install is 1:1 ratio. If you pick out 5 per square foot product then the labor charge is a smaller percent. 

 @Steve my partner company has options below look. Let’s connect to discuss. 

Ben, I own a lending company that offers loans for investors. The only money ever requested up front prior to closing is for the appraisal. We provide fix and flip loans as well as DSCR loans. I'd be happy to further discuss.

@Drew Sygit he runs Logical PM, one of the leaders in that space in the area. 

Hi Dillion,

My company does commercial asset based loans for real estate that lend to the LLC. We offer a 30 year fixed and ARMS. Putting the loan into your corporation shields your personal credit score and also protects the title insurance policy you get a closing on your purchase. Check with the title company about transferring via quit claim deed. Additionally we don't require tax returns or pay stubs. Our rates are generally a bit more than conventional loan rates but offer the benefits I touched on above. You can get up to 10 traditional property loans. Generally our clients come to us when they've exceeded the 10, want the loan to their LLC, or don't want to supply tax returns or pay stubs etc.

My team and I are still finding deals in Metro Detroit that would fit the BRRRR method, admittedly thought they are fewer and farther between. In many cases it involves finding off market deals, which luckily we are able to do. We offer a unique one stop find and fund model.

Hello,

I would be glad to help. I own a DSCR lending company and would be happy to discuss how we can loan you money for as many properties as possible. Happy to schedule a call to discuss.

@Jesus Santoyo for future purchases get the sewer line scoped during your inspection period. Another piece of advice is to add sewer line insurance. It covers repairs for about 6.00 per month. It’s a nice insurance policy for homes in older areas and old sewer lines. https://www.slwofa.com/

@Drew Sygit this might be a nice add on for your clients. It’s about 6 dollars per month. I place it on all my rental properties. https://www.slwofa.com/

Hi Shawn. One suggestion would be to find the property and to purchase it with seller financing. If the property has value add opportunities this could be attractive to the current owner. You could offer to pay current market value or maybe even slight,y above current market value. The seller gets a little higher selling price, charges interest while you stabilize and improve the property, and gets to defer some tax liability. You get to acquire the property with upside and little money out of pocket and then utilize the BRRRR strategy.

I also own a DSCR lending company, Level Up Capital LLC and would be happy to help in the future.

Hi Penny,

I’ve worked with Home Spec before and they do work in that area. https://www.basementfix.com/?u...