All Forum Posts by: Taylor Jennings

I just deleted about 30 lines of rambling in this post... I cut the fat.

SCENARIO 1

Would you sell a Property at 10.5% CAP for $48k (19% Equity) to make $16k and be clean of the house?

or

SCENARIO 2

Would you sell a Note at 8.0% APR on a 30yr at 70% LTV to pull $42k out, make $10k instantly and hold the property at a 13% CAP while Cash Flowing $138/mo?

@Dawn Anastasi @Lisa Miller I'm sold on the orange sol... Thanks for posting the pics Dawn!

"Slave away at a job...... until you DIE."

Chyeaaa!

Good production =) 

Makes me want to leave my office... right now... because I feel like I may die if I sit in this chair any longer...

We are offering a deal for a hard money or private money lender to finance for $25k in Indianapolis.

I have a 700+ credit score and $17k cash in the bank.

Purchase price is $6k + Rehab is $19k or less. (Contractor SoW itemization available)

Rehab Time: 3-4 weeks

Tenant Placement: 4 weeks

Est DOM: 4-6 weeks

Exit Strategy: Fix and Flip to Turnkey Buyer/Retail

Turnaround is less than 6 months.

Terms are negotiable to make sure it's worth your time. 

First position mortgage lien.

Future projects will be available to lend on. (Terms are subject to change)

3bd/1ba/1112sq/$800mo

MENTIONABLES

• Raised Ceilings: Master bedroom, living room 1, living room 2
• Large fenced in backyard
• Big shed in back with shelving (has existing unused shingles in packaging in storage)
• 0.8mi walk to Lucas Oil Stadium
• Closed in front porch
• Front patio
• Open floorplan kitchen with bar top
• Large laundry room
• Deal comes with the Land Lot beside it

EMail me for more info. Thanks!

@Michael Quarles Sounds like somebody may be validating the creation of an ultimate marketing team by funding the letters and the list while training boots on the ground to handle calls, est rehab, and close the deals.

I was surprised more experienced investors weren't doing this more often when I started. Seemed feasible especially when there are so many willing people.

Implementing an accountability model I would think would be the tough part. Finding the team may not be.

What would the splits be?

@J Scott Oh man, ha! 

I actually considered doing something similar to this but I felt bad about it... I guess the fact they are doing me dirty means I have to play the game. 

How stupid though. I wish people in this industry could have some type of professionalism. You would think that working with thousands of dollars would involve some level of it...

Thanks for the suggestions! I'll see what I can do.

@J Scott 

@Joel Owens  the work is being done is Grade C which is what we wanted. 

The contractor has split his crew off onto side jobs which has put him behind on ours. We've paid $16300 over the last 4 weeks which would equate to paying 7 guys $15/hr for 40hrs each of those 4 weeks... 

We may be halfway there I work completed.

He says he has to do side jobs now though so he can pay his guys but I'm like wth did the $16k go to? Lol there sure as heck haven't been spending their time on our job!

@Franklin Romine The $8k is strictly labor. We've worked with them once before on a smaller project.

I feel like there is hope still but like you said "Cool heads will prevail."

I had a text written up yesterday that basically said "Wth is up with the house? We paid you and your $8k behind..." But I didn't send it lol

Here is the email I just sent off:

Hey Chris,

Thanks again for stepping up on Spann and Kennington and getting them done! I feel it's rare to find a contractor who can "make it happen" and you have been able to do that. I really appreciate it since there is a lot of pressure on us to get stuff completed.

For you and I to secure more investment money we gotta get some things finished on 40th this week. I should have put together goals over the last 4 weeks to accomplish, but I didn't so I apologize for that =\

Click the link below to find the scope.

I know we can knock this out! I'll be out there this week.

We didn't set milestones or goals, we paid them based on the work they said they had completed, and now we can't pay them anymore because they are 2-3 weeks behind...

How should we go about getting the contractor to do $8k in work which was already paid for?

(I'm expecting really sad answers...)

My thought was to set specific goals for this week to get done and hope that hey knock it out.

Use some psychology techniques to get them to take hold themselves to a higher standard for themselves... Not sure how it's going to go.

Apparently BP Posts don't accept tables... Here is a picture breakdown below!

Indianapolis deal 0.8mi from Lucas Oil Stadium! Good neighborhood!

$800 / 0.02 = $40k - $18k (Rehab) = $22k

We are selling this deal for $17k. Closes on or before Friday 7/25.

$800 - $281.51 (Exp/mo) = $518.49 x 12 = $6221.88 / $35000 = 17.8% CAP

FLOORPLAN + Our Scope: http://bit.ly/1nFaTPT

MENTIONABLES

• Raised Ceilings: Master bedroom, living room 1, living room 2
• Large fenced in backyard
• Big shed in back with shelving
• 0.8mi walk to Lucas Oil Stadium
• Closed in front porch
• Front patio
• Open floorplan kitchen with bar top
• Large laundry room
• Deal comes with the Land Lot beside it (801 River Av)

Neighborhood: http://360.io/vf8Kff

Backyard: http://360.io/PmdpVs

Living 1 & 2: http://360.io/ztVLPM

Master: http://360.io/54uWmt

Bed 1 & 2: http://360.io/XgcDaG

Laundry: http://360.io/zrA6dA

Kitchen: http://360.io/axZZVY

1. ALL PICTURES: http://bit.ly/1u0b4ia