All Forum Posts by: Mike Brown

My business partner Katrina Marshalleck will attend.

@Jimmy Watson Thank you a ton.... I will definitely give him a call tomorrow morning.

I need referrals for a general contractor in Dallas TX. Any and all referrals are greatly appreciated.

@Derek Carroll Thanks for the idea. I will do some research on the bridge loan. Have you ever completed a similar deal or know of anyone who has used a bridge program to complete a rehab? If so, can you show me how the deal might be structured if possible?

@Derek Turbacuski I expect the ARV to be about 1.8mil. I plan to hold this property for the long term. I figure there is a lot of upside; especially if I can get it rehabbed and rented within the 6 months to 1 year time frame. I do intend to refi within that 6 months to 1 year time frame.

@Joe Mueller How do I find private lenders is it as simple as typing private lenders in my area into Google?

@Joel Owens This was very insightful. I am still narrowing down the details on the entire project. I learned a long time ago that locking in the financing is the most difficult part in these kind of deals. I just wanted to know if there were alternative options from Hard Money because I am worried about depleting all of my savings very very quickly considering the high debt service costs.

I recently found a deal that I need help structuring from a financing standpoint:

Here is the deal:

52 unit, 25% occupied, Asking 700k

Repairs needed: 7 - 10k per door

Average rents: $500 - 700

Working with about $200k

I am wondering if hard money is the way to go.... Any suggestions