All Forum Posts by: Bobby Paquette

Anyone know any private money lenders in the Summerville/Charleston SC area? Want to start doing BRRR deals and no capital to grow!

I know it is going to depend on the age of property, tenet base, etc. but generally on older homes that have not been updated how much do you set aside for Maintenance/Capex/Vacancy ? I always run my numbers on 10%/10%/10%. Do you personally do it based off the rent or the mortgage payment?

Does anyone have a commercial lender who will do less than 25% down? It's only 5 unit apartment building is less than 200k if they are willing to work around the 25% down. 

@Nate Bell hmm , interesting. Thanks for sharing!

@Taylor L. Yup! Thanks!

@Evan Polaski agreed, thanks!!

@Justin G. Going to shoot you an email!

@Erik Hatch Thanks!

@Justin G. Yeah I understand those ways to make money, just seeing if I’m missing something if I were to have a seller finance the down payment and the bank loan out the 75% and then saving for everything else. I’m actually looking in IN too

I am wondering how some people are making money in a deal when using other peoples money and it is NOT a flip.

Usually Minimum looking at a 4-5% loan to bank(if not all cash), 6-10% on the hard money lender or seller finance, then you factor in saving for Repairs/Maintenance/Capex/Vacancy/Property Management(If you don't do it yourself)

After you factor in all that money going out how are you still cash flowing? I can understand some rare examples but you gotta pay back a loan to the bank , loan to a person, and save for expense and you still cash flow?

I know it can be done I am just looking for some examples or maybe things I’m missing/not realizing! Looking forward to the responses!