All Forum Posts by: Shango Collier
Shango Collier has started 1 posts and replied 73 times.
Post: Hard Money Lenders/Private Money lender for Newbies in Fix and Flip
- Investor
- Indianapolis, IN
- Posts 80
- Votes 12
Quote from @Gabrielle Gardiner:
Hi all! I am Gabrielle with A&G Moguls. We are beginners in the realm of property revitalization(fix and flip). We have taken paid courses and have some relationships with HML. We have a deal on the table, but we are trying to see our best options for funding. Private money lending seems better than HML due to the fees associated with HML. We would love to hear about both experiences from you all and also if you could suggest any good HML with good terms or PML with good terms that work with beginners with no experience and small cash reserve. We are located in Houston, Texas. Thanks!!!
Hi Gabrielle, would you mind sharing the info on the fix and flip course you took and your experience with me? I’m currently teaching myself but would love to know of any courses worth the money.
Post: House Flipping Scope of Work
- Investor
- Indianapolis, IN
- Posts 80
- Votes 12
Quote from @Noah Howland:
I have a standardized Scope of Work project that I'd be happy to share for someone's review. Let me know!
Post: House Flipping Scope of Work
- Investor
- Indianapolis, IN
- Posts 80
- Votes 12
Quote from @J Scott:
Originally posted by @Kris L.:
SOW would be different with each property. I know that @J Scott wrote a pretty good book on the process though, (just finished it this weekend), and I would recommend starting with that.
If you purchase the book(s) from BiggerPockets (as opposed to Amazon), they come with a bunch of digital files to supplement the material. Including template contracts, template scope of work, etc.
Hi Mr. Scott, I was gifted your book by a family member but wasn’t able to get any of the digital files. Are they still available for me to just purchase them separate?
Post: I spent $33,836 renovating this apartment unit.
- Investor
- Indianapolis, IN
- Posts 80
- Votes 12
Aside from all the drama in the thread; may I ask who was the contractor for this project? You can inbox me. I’m a real person and would just like to know without being notified of this post pertaining to things I’m not interested in.
Post: Indianapolis Contractor recommendations
- Investor
- Indianapolis, IN
- Posts 80
- Votes 12
Quote from @Logan Sanford:
@William Leonard Hey Will. I could give you a few contacts if you like to reach out to that my company has worked with in the past. Just let me know!
Post: Indianapolis Contractor recommendations
- Investor
- Indianapolis, IN
- Posts 80
- Votes 12
Quote from @Jack Liu:
@William Leonard I worked with a contractor that did a great job on my rental properties. PM me if you need a referral!
Post: General Contractors in Indianapolis
- Investor
- Indianapolis, IN
- Posts 80
- Votes 12
Quote from @Jeb Brilliant:
Hi @Ruchir Kaul I forgot to mention there's a BP post somewhere on here with ~80 questions to ask a PM and I wouldn't ask them all of the but pick and choose a few. I suggest putting them into a spread sheet and asking the EXACT same questions to all the PM's you interview and compare your answers to make a decision.
If you can't find the article yourself I have a copy of it somewhere.
Can you share the link to this article with me?
Post: Indianapolis Dayton Flip
- Investor
- Indianapolis, IN
- Posts 80
- Votes 12
Quote from @Anastasia Gamino:
Investment Info:
Single-family residence fix & flip investment in Indianapolis.
Purchase price: $87,500
Cash invested: $162,673
Sale price: $210,000
Buy: Purchase Price 87,500
Rehab: Renovation Budget 74000
Profit: 47327
What made you interested in investing in this type of deal?
We saw the ability to finish the basement and increase the ARV.
How did you find this deal and how did you negotiate it?
Wholesaler
How did you finance this deal?
Cash
How did you add value to the deal?
We finished the basement and was able to raise the ARV and increase profit.
What was the outcome?
This took us 5 months to go under contract. This property is located between Christian Park and Beech Grove. We probably will not flip in the Near Eastside again. Our flips in the townships and suburbs sell a lot quicker!
Lessons learned? Challenges?
Never flip a house without a garage! This was a deal breaker for a lot of people.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Nuparadox
👏🏽 good stuff Anastasia! Do you mind sharing how you found a reliable contractor? Also, how did you go about managing them? (Ex: did you hire a property manager? Did your contractor offer their own to insure work was completed?) asking for myself as I’m planning to acquire and successfully close on my first flip here soon :)
Post: First Fix and Flip
- Investor
- Indianapolis, IN
- Posts 80
- Votes 12
Hi Travis, congrats on the deal but I also understand the frustration of under budgeting and over paying for things unforeseen. I would like to know how you under budgeted (e.g. did you bypass any walkthroughs with GC and instead did a quick dirty analysis?) I’d also like to know what type of timeline were you planning to achieve the completion of the deal by? I’m asking inquisitively because I’m currently seeking to acquire and sell my first fix and flip here soon and would love to hear any advice from those more versed.
Post: Fix and Flip in Indianapolis, off of Prospect
- Investor
- Indianapolis, IN
- Posts 80
- Votes 12
Hi Jacob, can you check your inbox! I’ve sent over a message request.