All Forum Posts by: Aaron Bard

If you had an opportunity to buy this deal for $400k cash knowing that its worth $1.3M would you be able to find investors. Im sure you would. And Im sure you would be calling everyone on your phone and messaging everyone on FB.

The reason I'm a little aggressive with this is that I let a great deal slip through my fingers once. $700k upside and an assumable 2.7% loan. I only "pitched" it to about 5 people. I should have told 50 people.

Good point! Thanks!

0 Votes

Bangor, Maine

Long time no post, folks!

I have a deal in front of me, and to be fair I have merely viewed the listing, looked at the property on Google Maps, and run a few of the basic cashflow, value-add, and NOI numbers. So with that being said, maybe I'm wasting my time looking into it, but I'm always looking to learn something new in this crazy investing world.

Here are some property details:

• 22 apartment units

• 22 self storage units

• Operational laundromat

• $1.3M asking price

• Significantly undervalued due to under-market rents.

• Value-add with rehab potential.

• Growing area centered between two of the largest population cities in the state.

• Within just a few miles of 3 different college campuses.

• Walking distance to the city downtown center.

Overall, I see a lot of potential. I live close enough to self manage, and have the cosmetic renovation, business, and landlording experience from the 3-unit that I already own.

My problem is capital. I don't have liquid capital to fund the down payment, and I don't have the necessary connections to bring other investors in on the deal.

This deal is located in Central Maine. So if you're an investor with capital in the area that may be interested in looking at the numbers, I'm always open to chat!

Thanks BP fam!

1 Vote

Bangor, Maine

Been awhile since my last BP post so I'm happy to be back!

Anyways, myself and a fellow investor friend of mine have been discussing doing mobile home flips in our local market. Yesterday, I listened to episode 976 of the BPRE pod and that gave me some really good ideas; primarily fix and flip into a rent to own. That way we can buy homes already placed in parks and make cashflow + a down payment and don't require a real estate license. At least that is what I took from it.

If there is anybody out there in the community that has any experience with this kind of strategy, please leave a comment or send me a message! It's much appreciated!

Thanks!

0 Votes

Bangor, Maine

Quote from @Simmy Ahluwalia:

@Aaron Bard - we can get to 100% of the purchase/reno in Maine; however, there are certain stipulations, full doc file with tax returns, credit, liquidity, income, etc....

I'll send you a DM. I'd like some more info!

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Quote from @Daniel Stoychev:

@Aaron Bard,

Not insane at all. But keep in mind everyone wants low to no money down scenario, so you are competing with a lot of guys for money/lenders.

A lot of this would be deal dependent, your experience, relationships.

Join Facebook and other meetup groups for real estate deals in your local area, or where the deal would be.

When you find someone that is willing to work with you, do your research. Don't be desperate, a lot of "lenders" out there love to take advantage.

Hope that helps a little.

It does! Thank you!

0 Votes

Quote from @Devin Peterson:

Quote from @Aaron Bard:

Quote from @Devin Peterson:

Quote from @Aaron Bard:

Hey everyone,

Still trying to secure this deal...so here's my question.

Is there such a thing as a "low-money-down" hard money lender? Or am I just desperately insane?

Unfortunately, I'm only looking to put down about 6-8% on this deal, but the numbers look incredible.

Refer me to a viable lender, call me crazy, anything helps.

Haha thanks BP Fam!

Hey Aaron, is this deal in Maine? There are 100% down payment hard money lenders but only in select states. if you don’t have enough money for the down payment, I recommend finding somebody who’s got more disposable capital and offering them equity in the the deal or preferred return of some sort.

Yes, this deal is in Maine. Do you know how I may be able to figure that out?

100% financing is not available in Maine as far as I know I think you’re going to need some private money.

Got it. Thank you!

0 Votes

Quote from @Devin Peterson:

Quote from @Aaron Bard:

Hey everyone,

Still trying to secure this deal...so here's my question.

Is there such a thing as a "low-money-down" hard money lender? Or am I just desperately insane?

Unfortunately, I'm only looking to put down about 6-8% on this deal, but the numbers look incredible.

Refer me to a viable lender, call me crazy, anything helps.

Haha thanks BP Fam!

Yes, this deal is in Maine. Do you know how I may be able to figure that out?

0 Votes

Hey everyone,

Still trying to secure this deal...so here's my question.

Is there such a thing as a "low-money-down" hard money lender? Or am I just desperately insane?

Unfortunately, I'm only looking to put down about 6-8% on this deal, but the numbers look incredible.

Refer me to a viable lender, call me crazy, anything helps.

Haha thanks BP Fam!

0 Votes

Quote from @Chris Diaz:

I met a guy in Lauderdale who lends nationally if you are interested in an intro.

Definitely!

0 Votes

Portland, Maine

Quote from @Travis Timmons:

Partnering sucks, pretty much never ends well, and does not go like you thought it would. That's why you've been hesitant to partner.

I own a couple of properties in your corner of Maine. I have no interest in partnering, but if you have it under contract, I'd take a look at it to buy and throw you an assignment fee, though. Please send me a DM if you have any interest in that.

Sure. I've been thinking about wholesaling it just to make the hours I've put into it somewhat worth it.

0 Votes

All Forum Posts by: Aaron Bard

Aaron Bard has started 24 posts and replied 71 times.

Post: Where to start with financing?

Post: Where to start with financing?

Post: Mobile Home Flipping/Rent-to-Own

Post: Searching for a hard money lender.

Post: Searching for a hard money lender.

Post: Searching for a hard money lender.

Post: Searching for a hard money lender.

Post: Searching for a hard money lender.

Post: Hard Money for flipping projects

Post: I think it's time...