All Forum Posts by: Lucas Vanroboys

Thanks for those tips to look out for @Leroy K. Williams. Do you find "good" contractors via word of mouth or referrals? Or how would you promote your rehab project if you little to no connections to begin with?

Great stuff! Thanks for all this @Doug Smith

Yes, great info @Doug Smith. Thanks for the insight. 

How do you connect with or find contractors in the first place. Is the best place to start from Agent Recs, or online like Google or contractor marketplaces like Thumbtack? Then regarding this, how many contractors would you recommend bringing in to quote a project?

I am about to go into my first solo BRRRR property and am seeking tips, advice and recommendations that would be important or valuable for a first timer like myself. How do you find them? How do you make sure you don't get ripped off? How do you negotiate with them? How do you keep them properly motivated and on scheudle? All these question and more lol

I've heard horror stories about bad GC's so trying to avoid those, but I've also heard about great experiences and long term business relationships so would love to find/develop something like this.

I am in the Boston area so any referrals or connections would be greatly appreciated!

I am looking for a general contractor to help with a rehab project in Boston. It's a 3 family multi-family with mostly cosmetic work and bath + kitchen upgrades. My search criteria is not nessesarily experience and reputation, but someone who will be reliable, professional and committed throughout the entire project.

any connection, refferal or contact would be great appreciated!

I am searching for a general contractor to hire for a rehab project. Specially a 3 family unit in Boston area. Any recommendations, referrals or contacts would be greatly appreciated!

Check out Figure Lending. They have a Bank Statement HELOC product where you have to do a full principle draw, but can push it back to them right away for when you need it. Seems dumb but they do this to lock in the rate since they are high right now and probably falling shortly. They do require a origination fee as well and rates are a bit higher than prime. Super easy application process... you'll get the pre-approval in 5 mins as they just connect to your bank account and underwrite you with an automated process. They do however max out at 400k.

I don't know how much equity you have in the properties so not sure what they will qualify you for but might be worth a shot to see.

Looking for a similar product (different situation) in MA!

 Sure thing. Give me a text/call at 513-461-5954 or email [email protected]

 Very helpful, thanks. 

I am thinking I can use the primary to get a revolving LOC to fund future investments and as my source of liquidity going forward. Not trying to DSCR the primary. Then definitely going to create LLC's for future investment properties and thinking of financing the purchase's with a combo of LOC liquidity and hard money or bridge loans and then re-fi into a DSCR after rehab. Could go straight to DSCR if there is no significant value add rehab too. Essentially wanting to do a BRRRR with the LOC as liquidity source.

I could be very wrong with this so I'd love to hear your thoughts on this rough plan. Key word in there is "rough" as I don't really have connections or a network to make this happen, specifically bridge or hard money loans. 

I have heard of them, but I don't really know where to start searching for them. Most traditional lenders I've talked with so far promote or mainly talk push FHA/Conventional products... which I've struggled with. Very curious to learn more and see how they could apply to my situation tho. The concept is very straight forward and exciting. Maybe you could point me in the right direction?