All Forum Posts by: Craig Bowen

I'll be down there but it's my wife's birthday.....so......if I can sneak away for a few minutes, I'd love to see everyone.  I am active here in Columbia and thinking about some stuff down that way!  Hope to make it!

Originally posted by @Brandon Barnes:

Collin where do you like to purchase? I am a wholesaler and buyer of buy and hold homes in Charleston for right now and am actually relocating to Columbia in about a month. Would love to help find you a deal if interested?

 @Brandon Barnes, Give me a shout or IM me when you start heading in the Columbia direction.  We will eventually be looking for a VRBO possibility near your area by next year.  Love Seabrook Island!

Hey Colin!  Love me some South Carolina!  I'm currently flipping in Columbia and was just on the phone  with an agent who birddogs for me, and thinkin exactly what you were thinkin....how much fun this is!!

I will continue flipping for the next year or two and then move into the BRRRR strategy or other buy and holds. Goal is to have 25+ doors in 5 years!

It's great to hear about your success, and if I was a betting man I'd lay dollars to donuts that you won't stop at $40k!  It's infectious!

Best to ya!

As always....if the numbers work for you, then they do!  Taxes are just one part of the overall equation and certainly have to be taken into consideration, but I find plenty of deals here that meet my needs, profit and margin wise!

Hey Matthew,

Sandra Parker at Dooley Law Firm in Lexington is the best!!  

If you run into McDonnell and Assoc, run, not walk in the other direction.....

My CPA is Geoff Chatham.  Been doing my stuff for a long time and works with several real estate investors, including some from out of state.  He is a great guy!!

Tell 'em both I sent ya!  Good luck sir!!

Hey Matthew,

Welcome to BP!  There is a wealth of information, and even more importantly, networking, here.  there are plenty of SC'ers here and you will find we are all pretty accessible.  

I met a wholesaler here and am in the middle of a quick flip he brought me.  I should make $15k to $20k in the next month or so.....all because of BP.

Feel free to message me and we can chat if you'd like.  

Good luck and keep on learning!!

Hey Eric. Welcome to BP. Great place to network! I am active in Columbia and Lexington. I am going to put together a small group soon. Let's stay in touch

Hey Will,

I was looking for a short term flip loan and ran into a good commercial lender I think might work for you.  Here is his contact info....

Jamie E. Addison

Assistant Vice President

First Community Bank

506 Meeting St.

West Columbia, SC 29169

O: 803-726-7703

F: 803-791-8725

NMLS # 108842

Best of luck and give me a ring some day.  My goals over the next few years will include the need for property management so maybe we can do some business going forward!

Best of luck on your project!

Hey Jennifer! Congrats on a full equity partner. Treat him/her like gold. If you are agreed at 50/50 then they will take 50% of whatever. Just make sure to show them the numbers very clearly so there is no potential for misunderstanding! If I was the equity partner I would look at the cash on cash return. I don't know if they will put up all cash for the buy and repair or use their credit to leverage the money, thereby using less cash out of their own pocket, but you should be clear on how much cash they are taking out of their investment circulation to make your project work. Their net return divided by that amount will tell you their ROI. Either way 50% of something is better than 100% of nothing on your side. So net returns should not be the question but rather, are both of you agreed on the numbers and happy and agreed on the projected return? Best of luck to you. I hope this is one of many for you!

Hi all,

I'm getting ready to fund a home I'm in negotiations on, to purchase for flipping. This will be the first time I have used hard money and I am in the process of doing my DD! I have met the folks at Capital 360 through BP, and was impressed by their terms (65% of ARV, 4.5 points and 13.9%) because it fit into my numbers for this project ($280k ARV, $140k purchase, $50k repair, $10k misc) and because they were very responsive.

Jon provided me with a pre-qual letter immediately and has answered all of my questions so far.  I'm wondering if anyone has had any experience with them and what the outcome was.  I'm also wondering if those terms sound right.  Again, they fit into my numbers and THAT is a central tenet of my business model; If the numbers work first, most everything else will fall in line!

I love the BP community and look forward to the responses!!