All Forum Posts by: Sheri L.

Hi all,

My family is looking to sell a single family house in Grosse Pointe Woods, MI.  Does anyone have any recommendations for a great real estate agent in the area?  

Thanks in advance!

-Sheri

Hi all,

I'm looking for recommendations for a great property manager in DC.  

We're completing a renovation of a large rowhouse in the NoMa/H Street areas of NE DC in the next couple of weeks.  

We live out of state, so we'd greatly appreciate any recommendations for an excellent local property manager.

Thanks,

Sheri

Hi all,

We're renovating a rowhouse in the H Street area in Washington, DC, and we need to dig out the basement.  

I am wondering whether anyone has recommendations for contractors in the area who handle basement dig outs.  

Many thanks,

Sheri

Thanks for the helpful info, @Andrew Michael and @Aaron Smith.

Hi fellow BPers,

We're in escrow on a townhouse in Washington, DC, and we're using the BRRRR strategy. We're planning to create a separate basement unit apartment and do some other updates.

We're using conventional financing for the purchase with 25% down, and we can cover a portion of the rehab with our own funds.  We want to get funding to cover the approximately $100,000 remaining rehab budget.  

What is the best way to get financing to cover the $100,000 rehab costs (e.g., loan from a bank, gap funding, hard money, etc.)? Is there a certain percentage of ARV they typically would fund up to?

Thanks for your help.

Sheri

Thanks for the info, @Ray Bartle and @Bob Malecki.  

Hi Bob,

I came across this thread while researching the same issue that you were facing (i.e., multiple potential private lenders interested in lending for our flip projects yet only being willing/able to lend a portion of the total cost of the acquisition and rehab).  

Our projects are in Washington, DC, where the cost to purchase and rehab the properties we are interested in is as high as $800K, yet the people who have expressed interested in lending to us only can lend up to around $300K.  

How did you end up structuring your deals with your private lenders?

Many thanks,

Sheri

Thanks for your helpful insight, @Ahmed Porter.  Have you had many issues with crime while you've been working in the Anacostia area?

Makes sense.  Thanks.  

Thanks for the very helpful info, @Russell Brazil.  I really would like to find a way to get into the Anacostia market now, but I don't know that I'm willing to deal with the management headaches.  

Have you seen any strategies work well in Anacostia (or neighborhoods with similar challenges) other than flipping?