All Forum Posts by: John Penzo

@Andrew Postell

Thanks for your input. I’ll definitely take that into consideration when making a decision.

@Andrew Postell

Anywhere between $40k-$50k

Odie Ayaga,

Thanks for your feedback!

So a deal that I have is: $120k PP and $240 ARV

My private lender would be good for up to $150k, the cost of the deal would need to fit within my criteria (which is $100 cash flow min, 12% cash on cash return, 15% IRR off total cost, and if it was a flip, at least $20k profit) and if I went that route, after doing a BRRRR method, I'd have to provide them up to a 10% ROI. I would also be looking for a deal where I would pay up to 75% of ARV, only for the BRRRR method. If I decided to flip it, I'm looking for a minimum of $20k profits, unless it was a fully funded flip, I would then provide them up to 50% of the profits.

John

Ok,

So currently I own 9 properties. 4 here in the The Dallas, TX area where I live, and 5 in the Dominican Republic. Out of all these properties, I’ve flipped 2 of them and held unto them. 
I’ve managed to acquire a personal line of credit for $40k. I’m considering on using either a hard money lender to cover the purchase and repairs, and my line of credit paying for the downpayment and the monthly interest for the hard money lender. I also have a private money lender, but they would take longer to fund. So my question is, would it be wise to pull the trigger on finding the deal and going forward with it, and if so, which route should I take, the hard money lender or private lender route? (Of course considering that the private lender is going to be less expensive to borrow from)