All Forum Posts by: Ryan Saulle

Thank you! @Mychal Lee. 

-For the most part when flipping a house in really bad condition or unlivable it will be hard or not even possible to get conventional bank loans. Which limits you to all cash (if you have it), private money (raising money from people you know or meet through real estate), hard money, or maybe a HELOC if you own a house with equity already.

-All cash or Private money is a better / less expensive option than hard money but you need to have the cash or will have to raise all the money needed.

-Hard money is a more expensive option but it also lets you leverage your money to do multiple deals. Having less of your own money tied into 1 property allows you to grow and do multiple deals at once. (If this is your plan). Another thing with hard money is they look at the deal itself before they lend. So if your new, they can almost guide you a little. Maybe you think it's a good deal but your ARV isn't accurate and when they appraise the property they tell you it's a bad deal.

Sometimes hard money gets a bad name but it has its pros and cons.

Hope this helps,

Ryan

@Patrice Penda Thank you Patrice!

-Yes I did, rehab budget was almost exact and holding length was slightly longer but not by much.

-As for repairs, new siding, roof, gutters, light landscaping, chimney repair + sleeve added, boards on deck / stained, re-sided shed, sheetrock, moldings + paint, interior doors, 1 kitchen, 1 1/2 bath, some hardwood floors added and stained, dressed up fireplace, water heater, oil tank removal.

@John Ross thank you!

Yes, they are porcelain tiles.

Ryan

Hey BP, I wanted to share a success story and hope it motivates everyone to keep on going!

After partnering on my first few flips, I started my own company and completed my first under it's name. 

Also have another in contract looking to keep it rolling in 2018!

Some pictures attached below:

Hey BP,

Update: Project was officially completed and sold by my agent  @Michael Lee!

Some pictures attached below:

Hey @Ronny Tiburcio I swung by at 3:45 a little late, a lady who works there said I missed you guys. I’ll be at the next one. 

Seems like they're asking for a very low % on their money for a complete stranger. I'd be cautious, maybe try and get some face time with the person to put a face to the name.

Ryan

@Craig Curelop Thank you Craig!

Hey Benjamin, 

I do not have a template or example on raising that type of capital but Read the book Pitch Anything by Oren Klaff. Just purchased it this week and finished it. GREAT read if you're looking for some pitching tips and techniques for raising large amount of capital. Highly recommend reading or listening to it before you start pitching!

Hope this helps,

Ryan

It is suggested to put each property in a separate LLC, because if you get sued they can come after all 4 properties if lumped into one entity. Others suggest you can keep them in 1 LLC and take out extra insurance for that particular LLC.

I am not a CPA or attorney and i would suggest speaking to one in your area. Also, check out some articles about owning in a C Corp Vs. an LLC

https://www.corporatedirect.com/c-corps-s-corps/wh...

http://loopholelewy.com/loopholelewy/01-tax-basics...

Hope this helps,

Ryan