All Forum Posts by: Cam Schwartz

I'm new to Bigger Pockets. I am a realtor in NW Indiana and seriously considering doing my first flip. Nervous as hell! One of my clients needs to sell her home in Gary, IN and I was just thinking if I should buy it myself. I was considering using the BRRR calculator but it seems pricy !

Hi @Irma Leibas, we have a proprietary BRRRR cash flow calculator I'm happy to share for free. Message me your best email!

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Quote from @Jonathan Klemm:

Hi @Joy McQueary - Awesome to see you on the forums and taking action!

I've found the best place to meet private lenders is in person at meetups or different mastermind type of events.

How come you are looking in DC and Chicago? I found it was easier to find what I was looking for when I narrowed my search as much as possible.

Chicago has a plethora of good properties, just make sure you have the right team set up!

Consider talking to @Cam Schwartz who is local to chicago and lending on the fix and flip side.

Thanks again Jonathan! @Joy McQueary and I have connected via PM and will discuss her goals to see how best we can be of help.

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Quote from @Jonathan Klemm:

Hey @Gene May - Try connecting with @Cam Schwartz, he is local to Chicago and is a hard money lender.

I always suggest partnering with a local lender because they know the market and are doing their own analysis, which is a really good double-checkyour deal. Out-of-state lenders won't know the Chicago neighborhoods as well, and I've seen more of those deals go astray than those with local lenders.

I saw that you are a lender yourself, is there a reason you are looing for outside funding?

Thanks @Jonathan Klemm!

@Gene May, left you a VM and sent an email.

[email protected]

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Quote from @Jonathan Klemm:

Hey @Joy McQueary - Try connecting with @Cam Schwartz, he is local to Chicago and is a hard money lender.

I am personally a big fan of Chicago because of all the old multifamly properties and great real estate community that we have. We have buildings all over the city, but are not more focused on helping other investors with renovations instead of our own.

I always suggest partnering with a local lender because they know the market and are doing their own analysis, which is a really good double-checkyour deal. Out-of-state lenders won't also know the Chicago neighborhoods, and I've seen more of those deals go astray than those with local lenders.

Thanks Jonathan! Totally agree its great to have local lenders, contractors, agents etc. for projects rather than the contrary.

@Joy McQueary I sent you a note, look forward to connecting!

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Quote from @Jennifer Katherine De Loughy:

Quote from @Cam Schwartz:

Congrats on getting started @Jennifer Katherine De Loughy

We're active in NJ. Happy to chat more broadly and answer questions about flipping in general if we can be a helpful resource.

@Jennifer Katherine De Loughy 8477026940. Give me a call anytime.

Hi, Cam. PM me your number and I'll call you tomorrow or Tuesday.

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Congrats on getting started @Jennifer Katherine De Loughy

We're active in NJ. Happy to chat more broadly and answer questions about flipping in general if we can be a helpful resource.

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Thanks @Jonathan Klemm!

@Henry Lazerow while experience level factors into pricing and leverage we don't require an established track record to fund. Let me know if we can be helpful!

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Chicago, Illinois

Thanks @Jonathan Klemm!

@Adriana McLaughlin, always happy to be a helpful resource.

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Chicago, Illinois

Hi @Ross Hayes, all great questions, can tell you're very diligent in your analyses.

You're understanding of estimating monthly payments is correct. Sales commissions tend to be 4-5% of the sale price, split between the buyers' and sellers' agents. Closing costs vary but are usually at least a few grand in addition to the origination fee which tends to vary between 1-3% of the loan amount.

We have a simple yet detailed fix and flip calculator (cash flow tool) that clearly accounts for all of the relevant costs and gives you a sense of net profit, ROI and total cost associated with each project. Happy to share a copy!

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Hi @Lara Di Girolamo, we've funded deals in South FL and have clients who have completed flips in Tampa. To my understanding, there has been a surplus of inventory hitting the market as of late, making for a strong buyer's market. Anecdotally, one investor in our network has had to cut price multiple times on two of their currently listed flips in Tampa given the amount of properties on the market. Something to keep in mind as you're estimating project duration and ARV.

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Tampa, Florida

All Forum Posts by: Cam Schwartz

Cam Schwartz has started 7 posts and replied 61 times.

Post: I need help using the BRRR Calculator

Post: Seeking Private Lender

Post: 🚨 Seeking Hard Money Lender for Exciting Fix and Flip Opportunity! 🚨

Post: Looking for fix-and-flip (or rent) loans

Post: Flip Lenders in NJ

Post: Flip Lenders in NJ

Post: Chicago rehab lenders?

Post: Any DSCR lenders you recommend

Post: Fix & Flip Analysis Fundamentals

Post: New at fix and flipping