All Forum Posts by: John Upperman

Yes - I am trying to avoid the "seasoning" period.  I have a regional bank that will do the loan, but at only 60% of the purchase + rehab costs.  They will only look at market value after one year of ownership.  

I'm looking for a Portfolio lender in NC to help me execute a BRRR strategy on a SFR.

Details:

Purchase price: $50K

Rehab: $30K

Recently appraised for $108K

Purchase and rehab was 100% cash. I'm looking for 80% LTV and a market competitive interest rate. Other terms are negotiable.

PM if interested.

@Dawn Brenengen - last minute conflict.  I'm bummed I can't make it but I'll block off my calendar for next month.

@Dawn Brenengen - I'll be there!  

Hey BP Community

I'm looking at a potential flip in the Nashville area and need some referalls to trustworthy contractors who can take on an extensive project. 

The home in question was built in the 1920's and needs a complete rehab...potentially taken down to the studs.  So this need to be someone with a high level of skill.  A plus would be anyone who has worked on older homes and can demonstrate some of the refinishing work they have done.

Thanks!

@Neal Isaacs - great opening post.  Welcome to the community.  

"The most useful thing I did when I started investing in real estate was..." taking the first step even though I was not 100% sure I knew what I was doing.

@Brandon Holcomb - Sure thing.  PM me with some time slots and we'll find a time that works.

@Brandon Holcomb - welcome to the area.  I am an active investor, so feel free to add me to you're buyers list.  Hopefully we can meet f2f at the next BP meet up.  

John

To @Ali Boone's point - this looks like an additional touch in the process, which adds cost.  If you're looking to invest out of state, I think you would be better off finding a quality Turnkey provider who is truly adding value by finding distressed, off market properties; doing the rehab and then selling to an investor with established property management.   

@Reaz H.

Welcome to Raleigh.  I made the move from Austin about 6 years ago after living there for 15 years.    It was a tough move for me and my family, but I have grown to love it here.  I think you'll find that Raleigh has a similar DNA as Austin, but with about a million less people.  :-)

I'm happy to meet up over coffee or lunch to share my experiences.  

John