All Forum Posts by: Brooke Jackson

@Alex Shea thank you Alex, I am very interested in connecting.

My email address is brookesmithhomes@gmail com

My number is

801-688-8243

@Reginald Truss thank you. [email protected]

listed at $1.5m and needs $100k of rehab. Owners are in distress and need to sell.

I'm looking for a qualifying partner to purchase and fund the rehab on a 2 year note. I'll pay the monthly mortgage and refinance in 2 years with an additional $160k for a 10% ROI. 2 year partnership.

I would love to get examples of good pro formas too @Chris A.@Kenneth Mooney @Brock Mogensen !

I'm working on a deal in Indy and I have a hard money lender ready to fund the rehab. I need some help crunching the numbers so I know what I'm looking at before accepting the terms. 

I bought the property with cash for $90k 

Rehab costs: $200k 
Expected time to complete rehab: 6-8 months
ARV: $350k-$365k

2pt origination at 9.24%-    $7,700 origination with a $2964.5 Interest Only Payment

2.25 originations pts at 8.99%- $8,662.5 origination with a $2,884.29 I/O Payment.

2.5 pts origination at 8.74%- $9,625 origination with a $2,804.08 I/O payment

2.75 pts origination at 8.64%- $10,587.5 origination with a $2,772 I/O payment

3pts origination at 8.54%- $11,550 with a $2,739.91 I/O payment

3.25 pts origination at 8.44%- $12,512.5 with a $2,707 I/O payment

3.5pts origination at 8.34%- $13,475 with a $2,675.75 I/O payment

3.75pts origination at 8.24%- $14,437.5 with a $2,643.66 I/O payment

4pts origination at 8.14%- $15,400 with a 2,611.58 I/O payment.

How much should I expect to pay in Hard Money fees at the end of the day? How much will I profit on this deal?  What should I do? 

Im looking at buying a SFR in a mountain community in Utah. The homes in the area go for over a million. The house that I'm looking at is for sell for $427k and needs about $450k in rehab to get it to the million dollar expectation. With this kind of a rehab it's reasonable to have an ARV of $1.2-$1.3. I would also VRBO the home for $13k a month.

Im concerned about a housing recession and if the property will depreciate over the next few years. Im also concerned about VRBO rentals with covid or other potential pandemics (Bill Gates Believes there will be another global pandemic within the next several years) and how that would affect my rents.

Im interested in this home because I feel that there is great opportunity for appreciation with it already located in a million dollar mountain community.

Looking for suggestions and feedback.

@Lindel Smith I am looking for funding for these two properties that I'm currently rehabbing. I'm raising $350k right now and would love to partner or use hard money. If your interested I can give you more info, or if you know of someone that might be interested I'd love to connect. Again, thank you for reaching out!

@Lindel Smith thank you! I will keep your contact info. I appreciate you responding.

I'm rehabbing 2 properties in Indianapolis and I'm looking for a partner or a hard money lender to complete the projects.

The first property is a duplex, 2400 square feet. It needs roof repairs, and a total internal rehab (home was built in 1910). I'm expecting the rehab to cost $180k and I should be able to sell it for $350k-$375k.

The second property is very similar except that it's a SFR with 2100 sqft. Both properties are free and clear and I have cash to start both projects but I'm looking for partners to finish the project.

I live in Utah and I've got a great team in Indianapolis (realtor, Gen. Contractor, Prop. Management co.). I'd love to work with people from Utah or anywhere. 

Thanks!

I just bought a second property in Indianapolis. Both properties are on the same street and there is great potential with ROI. My thoughts are to flip both so that I can build up my capital for buying and holding in the future. Can I BRRRR both properties and reinvest without selling them?

The first property is a duplex that needs about $180k in rehabs with an ARV of $375k, the other property is a SFR that needs $150k in rehabs with a similar ARV. I have the money to do one but not both. Should I flip the first property with a smaller rehab and use the flip money to do a better rehab on the second property?

How do I find partners to invest with so that I can do both rehabs for the full ARV?