All Forum Posts by: Benaiah Grimes

Ned Carey I agree that all three should be used but until I can show my track record private financing will have to do. I do have a backer that is willing to invest. In the meantime I will focus on this! Mat Lewczenko I will look for small banks but what bank did you use in your area? You just went down the list of banks in your area and called or you had some in mind? Kenneth LaVoie I am interested in a large cash flow, so I will definitely have to do some major research on how much I need to put down and have an excellent team in place that can do the rehab quickly.

Ned Carey I agree that I would like my renters to feel as if this is a place they can stay long term. I would like to begin in Baltimore and I plan to purchase within the next 30 days. I now have some cash (about 10k) i can use for a downpayment or to buy a shell and finance the rehab. Who do you suggest to use to finance rehab if the house is paid off but not habitable until after rehab? Is it impossible to do this? Private lending would be the best way to get this done?

Does anyone know of a decent and affordable rehab company in Detroit that is willing to do a walk through with properties I am interested in to give me an estimate of cost?

Beautiful so far. How much for Reno of this size?

Hi Bryan I look forward to meeting everyone. Been super busy with work but now they've hired a new team member I can fully focus on investments. Hope to learn as much as I can and I invest in a SF or multiunit by August.

George Paiva Thanks i will go to the bookstore today.

George Paiva that makes sense. When you look at a property can someone break down how to do the numbers? How do you get the cap rate and estimate expenses?

Ken,

I can only hope I could be that lucky. I doubt he'll come down its been on the market for quite awhile hes basically charging double for both properties to sell together and make a huge profit. Ill keep looking. How did you find yours? Kevin Young i inboxed you.
Ben Leybovich and Joel Owens how do you know immediately if the deal is bad? Cap rates are a tell sign?

I will try to make it depending on time but I will see you anyway this weekend Ned.

Very Much so. So I'm better off taking it slow and picking up a property that is 4 units or below to et FHA financing and better rates. How did you estimate cap percentage so I can do it as I'm looking through listings?