All Forum Posts by: Peter Grange

Hi Dustin. I am interested in exactly what you are looking for in a JV. Are you looking for complete funding of the purchase and rehab or a financial JV? Are you doing the rehab or managing the contractors? I am interested in learning more about what your needs are and see if they align with mine.

Thanks,

Pete

[email protected]

Hi Diana. Please send me more information. [email protected]

Thank you.

Pete

@Diana Duncan do you have pictures to share? I would like to get a better visual before physically seeing the property. How much land and is this well and septic or city services? Are all u its separately metered?

Thanks 

Pete

Congratulations Caron. Appears to be a pretty successful 1st deal, especially as a cross country one. How long did it take from buy to sell? How long did it take just to sell, days on market? Did you add your own money plus the HML?

Thanks for sharing.-- Pete

Hi Nancy. Can you send me pics and rehab break down, a long with the cash vs. Hml report. [email protected] 

Thank you,

Pete

Our goal is to complete our 1st two  flips. This will allow us to pay off a few final  debts, like vehicle loans. Our current home is paid off.  It will also allow us to bank some to use less hard money for future flips. The long term "why" is to get to financial freedom but intially to save for my wife's  pending transplant. We would love to partner with one or two others to eventually create a flipping machine and add buyandholds for long term freedom.

More than 2019 goals but it starts with those 1st two flips.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Here is a flip that I am considering. The finance numbers are based on a 6 month loan from a HML at 12.25% with 3.99% origination fees. Loan is 70% ARV. I am looking for a minimum of 20k profit with a 4 1/2 month total time to flip. This would be my 1st sole attempt at a flip. About 60% of the work would be sub-contracted and I would DIY the rest. I think I have assessed everything I can, obviously the calculator helps. Some of the rehab numbers I have priced directly and others are based on a wholesaler estimate (I have inflated those based on personal knowledge). The deal itself is through a wholesaler and that is their asking price. I took 10k off of their ARV to be conservative, though the CMA does suggest $320k is achievable.

Obviously a better HML rate would help the bottom line. I was going to just request a HML for just the purchase vs. the 70% ARV, as I can cover the entire rehab with my own funds but the cost difference does not seem to be worth putting up the extra $17,000. Anyway, looking for some thoughts on this deal and any opinions on items I may have missed. 

Pete

Jason, I would like youbto add me to your weely updates. [email protected].

Thanks,

Pete

Juan, I am looking for something just loke this in Lakeland, for a personal residence. Do you have any other pictures and info. you can share? 

Pete

Tom, I am curios as to how to last 4 years have gone for you. I am 47 and my wife is 44 and we are in the same spot you were. Do you jnow think you were too old?

Pete