All Forum Posts by: Aaron Cullen

@Vincent Chen sure thing, send me a PM and we can set up a phone call.

Investment Info:

Single-family residence fix & flip investment in Indianapolis.

Sale price: $310,000

Ranch Style Single Family, Full renovation top to bottom. 130k renovation budget, bought for 115k. Solid base hit, sold in 1 day. 

Hi,

I have a condo in Oceana that needs a new roof and some framing work to an existing covered porch that needs to be covered by the new roof as well. Looking for Licensed roofers, the HOA requires proof. Does anyone have any recommendations of people they've worked with before?

Thanks! 

@Erin M. 

You can get a Hard Money Loan to fund the purchase and rehab then do a cash out refi to a conventional. That's the way I do it.

@Ryan Farran

I know you just threw those numbers out but lets break it down anyways. 

Let's say you find a hard money lender to lend you the whole amount.

120k Purchase/Rehab

9.6k Hard Money Loan (2pts + 10% per annum and it takes you 8mo purchase to sale)

10.5k Sales Costs (7%)

Total Cost of: 140k leaving you a profit of: 10k (That's an 8.5% profit IF you sell for full asking price)

No one would lend 100% on that deal. From my experience the lenders want to see a juicier deal and they want you to have some skin in the game. I wouldn't do that deal unless you could be at 105k with purchase+rehab. J Scott mentioned in the BP podcast a couple weeks ago he won't do a deal unless he can get 15% profit. That's what I would shoot for as the minimum. 

@Matthew Paul I don't have that available anymore... thus looking for new contacts.

Hello,

I need some recommendations for lawn maintenance. I have several properties that need routine maintenance, so looking to work with a company/someone that would be professional, quick, and interested in giving a discount for multiple properties. Also able to do specific yard tasks at certain properties.

What are the fair going rates? I've gotten several rates all over the place from 30$ a cut/edge to 150$ cut/edge for same service. 

Thanks!

Hello,

I have a couple properties that are staged and need cleaning every couple weeks. Does anyone use a service or have someone trustworthy that does this type of work well? 

Also - What is the going rate people are paying in Indy? It's not lived in, just and empty house with staged furniture. 

Thanks!

What kind of terms are you getting for your commercial loans? I do conventional but it's a realll pain and would love to connect with a local bank to get easier commercial loans if possible. 

what @Chris Mason said ;-)

Financing is key, the more I invest the more clear it is. Do some deals and find a great local lender to work with. Hopefully they can get creative with you.